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Black Business Community Development Corporation to Enhance Job Quality in Partnership with BBIF



Orlando, FL – The Black Business Community Development Corporation (BBCDC), a leader in developing sustainable minority businesses and communities, announced its role in the Aspen Institute’s Economic Opportunities partnership in "Shared Success: Scaling Financial Intermediary Strategies to Advance Job Quality, Equity, and Small Business Prosperity." This pioneering initiative, supported by the Bill & Melinda Gates Foundation, aims to improve job quality among small and medium-sized businesses, with a focus on BIPOC communities.


BBCDC, known for its robust efforts in fundraising, education, and networking to uplift underserved communities, will work closely with its charitable affiliate, Black Business Investment Fund (BBIF), to implement this program. "Our partnership with BBIF allows us to leverage our combined strengths to make a tangible impact on job quality in our communities," said Duane Lewis, Executive Director at BBCDC.


The program addresses critical issues such as stagnant wages and limited access to benefits, which disproportionately affect BIPOC workers. "Through this collaboration, we are poised to make significant strides in enhancing job quality, which is a cornerstone of community development and economic empowerment," added Duane Lewis.


BBCDC’s participation will focus on integrating job quality into their services, supporting small- and medium-sized businesses in areas such as compensation, employee satisfaction, and wealth building. This aligns with BBCDC's long standing commitment to community development and business support.


Joining forces with the Economic Opportunities Program, the Bill & Melinda Gates Foundation, U.S. Bancorp Community Development Corporation (USBCDC), and Pacific Community Ventures (PCV), BBCDC will contribute its unique insights and expertise to this collaborative effort. "Our collective efforts will pave the way for a more equitable and prosperous future for small business owners and their employees," commented Duane Lewis.


Maureen Conway, vice president at the Aspen Institute and executive director of the Institute’s Economic Opportunities Program, stated, “This is a critical undertaking to meaningfully improve jobs in a way that benefits both workers and business owners. Most business owners recognize the value of their employees, but need information, incentives, and tools to improve job quality. “We are pleased to partner with these CDFIs who share our values and are well positioned to help small businesses seize opportunities for making job quality improvements in the short term and ultimately drive structural changes for a more just and equitable economy.”


BBCDC's involvement in this program underscores its dedication to creating opportunities that enhance both business resilience and worker wellbeing, laying a foundation for long-term racial equity and economic mobility in the US small business ecosystem.



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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