Orlando, FL – The Black Business Community Development Corporation (BBCDC) is excited to announce a $100,000 grant from the Fifth Third Foundation AGREEI Fund for the East Tampa Business & Community Development Project. This grant signifies a major step in supporting minority business owners and revitalizing East Tampa's economy.
The grant will fund financial literacy, business development training, and one-on-one coaching for BIPOC business owners in East Tampa. BBCDC, leveraging its partnership with the Black Business Investment Fund (BBIF), will fulfill the grant's objectives by providing crucial resources and expertise in business development and financial management.
This initiative promises to rejuvenate the once-thriving East Tampa area, focusing on empowering local entrepreneurs and addressing socioeconomic challenges. The project aims to educate 50 BIPOC business owners and provide intensive scale-up training to 30 more, aligning with BBCDC's mission of community development and economic empowerment.
“I am thrilled about the opportunity this generous grant from the Fifth Third Foundation AGREEI Fund presents,” said Duane Lewis, Executive Director at BBCDC. “With our focused efforts on educating and empowering BIPOC business owners, we are eager to witness the transformative effect of our efforts on the business landscape of East Tampa.”
About BBCDC
The Black Business Community Development Corporation (BBCDC) was created in 1993. It is a 501c3 entity that provides fundraising, education, and networking opportunities to develop and support the growth of minority businesses and underserved communities. Additionally, BBCDC has the vision to develop sustainable communities by providing low to moderate and affordable housing. BBCDC is the charitable affiliate of BBIF. The previous name of BBCDC was Black Business Capital Financing Corporation (BBCFC). In early 2020 the BBCFC board felt it was necessary to transition to a CDC, hence changing the name to BBCDC. The new name, BBCDC, became effective on March 16, 2020.
About BBIF
Created in 1987, BBIF’s mission is to develop and promote Black business enterprises through education, training, loans, investments, and other activities and to aggressively promote an atmosphere conducive to their development. A mission-driven lender, BBIF helps communities and businesses thrive by providing loan capital and specialized financial technical assistance services. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury, Community Advantage and Micro Loan lender as certified by U.S. Small Business Administration, Money Smart for Small Business collaborator certified by the Federal Deposit Insurance Corporation (FDIC) and is AERIS rated triple star, A-minus. Since its inception, BBIF has provided over 1,100 loans totaling $99.4 million and leveraged $449 million in New Markets Tax Credit (NMTC) community investments. BBIF’s investments have helped to create/sustain over 14,700 jobs all while maintaining a loan loss rate of 2.79%. Learn more at www.BBIF.com.
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