Orlando, FL – The Black Business Community Development Corporation (BBCDC) is delighted to announce a significant grant of $100,000 from the TD Charitable Foundation. This grant is dedicated to enhancing the Financial Literacy Education (FLE) program, a key initiative of BBCDC to educate and empower underserved business owners and entrepreneurs.
The FLE program, designed to improve financial skills such as personal finance management, budgeting, and investing, will be offered both virtually and in person. This 12-month program includes a series of monthly training sessions, aiming to engage participants in vital financial education.
This initiative aligns seamlessly with BBCDC's mission to support minority businesses and develop sustainable communities. BBCDC, in partnership with the Black Business Investment Fund (BBIF), has a track record of creating substantial economic impact, exemplified by providing over 1,155 business loans totaling $97 million and helping to create or sustain more than 15,000 jobs. The FLE program is poised to further this impact by enhancing the financial acumen and viability of entrepreneurs in underserved communities.
"We are immensely grateful for the support from the TD Charitable Foundation," said Duane Lewis, Executive Director at BBCDC. "This grant enables us to extend our Financial Literacy Education program, a crucial tool that we utilize to further nurture and grow minority and underserved businesses. We believe that financial literacy is foundational for sustainable business growth and community development."
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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