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Presenting
Information for
Business
Opportunities
Providing
Access To
Capital
Enhancing
Business
Capacity
BLACK BUSINESS INVESTMENT FUND FY 2012 ANNUAL REPORT A Change in Leadership BBIF is pleased to announce Ms. Jacqueline Barr has been named Chair of the BBIF Board of Directors. A visionary in business development, Ms. Barr has dedicated three and a half decades of her career to successfully mentoring black, minority and underserved small businesses to move them into the mainstream business market. A Florida native, Ms. Barr is from the Tampa area. She has a B.S. Degree in Business Administration and Management and has received numerous awards in recognition for her contribution and support of Minority/Women Business Enterprises and strong encouragement of hiring minorities and females in the work place. Ms. Barr is best known in her previous role as Director of Business Development and Human Resources with the Orlando-Orange County Expressway Authority. As Director, she was responsible for implementing the Authority’s Equal Opportunity and Business Development Policy and Programs. Ms. Barr has more than 35 years experience in the areas of program development for minority and women owned businesses, including 15 years in a variety of human resources and equal opportunity/affirmative action roles. Under her leadership, the Authority increased minority and women owned business’ participation from less than 1% to more than 20% in the award of various contracts. Prior to her retirement in 2010, one of her primary objectives was to transition minority and women owned businesses from the role of subcontractors to prime contractors. Prior to moving to Orlando, Ms. Barr was General Manager with the Hillsborough County Equal Opportunity Office. In that role, she created, wrote and successfully implemented the Disadvantaged Minority and Women Business Policy, which is still active. While in Hillsborough County she ran as a candidate for County Commissioner. Ms. Barr is currently active in community-based organizations such as the Florida Consortium of Black Businesses, and is formerly the President of the Florida Association of Minority Business Enterprise Officials (FAMBEO) and the Florida Jacqueline Barr Association of Community Relations Professionals. She has had other affiliations President, Jacqueline Rogers Barr Enterprises, Inc. with organizations that include 100 Black Women, the Black Public Administrators, Chair, BBIF Board of Directors the Boys and Girls Club of Central Florida, Inc., Mother’s of Incarcerated Sons and Hispanic Business Initiative Fund to name a few. Ms. Barr is a member of Leadership Orlando Class 43.
BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
Providing
Access To
Capital
Report contents
A Message from our Chair and President............................ 2
Connecting to our Mission:
Celebrating 25 Years of Creating Access ........................... 3
Our Mission Expanding our Resources: Ten-Year Plan............................ 4
Presenting To develop and promote black Loan Funds............................................................................ 5
Information for business enterprises through
education, training, loans, Capacity Development ......................................................... 6
Business
investments, and other activities Client Stories ........................................................................ 7-9
Opportunities
and to aggressively promote an
Minority Business Institute................................................... 10
atmosphere conducive to
their development. Statements of Financial Position and Activities ................. 11
Loan and Technical Assistance Activity ............................. 12
Board of Directors, Investors and Partners......................... 13
Loan Committee, Technical Assistance
Enhancing Team and Staff ..................................................................... 14
Business 2012’s Most Noteworthy Accomplishment......................... 15
Capacity
1
J AC
Q
BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
UE
LIN
E B AR R
a message from our
Dear Friends:
chair and president
We are pleased to present you with the 2012 Annual Report While the economy continues to rebound from tough economic
for Black Business Investment Fund (BBIF). The information in this times, BBIF has assisted its loan clients via technical assistance
report highlights the pivotal role that BBIF plays in connecting to successfully manage and meet their business challenges,
the black, minority and underserved small business community sustaining themselves and retaining jobs. The entrepreneurial
to vital capital resources that are needed for economic growth spirit of our clients drives our passion for the work we do and
and prosperity. strengthen our resolve to continue to breakdown barriers and
LO N G
INEZ strengthen businesses in the markets we that serve.
The BBIF is a non-traditional lender that specializes in providing
loans to black, minority and underserved small businesses; loans On the cusp of our twenty-sixth year of operation, BBIF’s future
that range from $5,000 - $250,000. The organization is certified looks promising. The organization has become a Community
by the U. S. Department of Treasury as a CDFI (Community Advantage Lender, raised over $2 million in new loan capital
Development Financial Institution) and CDE (Community and expended our service territory statewide and our partner
Development Enterprise) and as a Black Business Investment relationships. Our new Board Chair, Jacqueline Barr, embraces
Corporation (BBIC) by the State of Florida. BBIF is the only our vision for the continued implementation of BBIF’s 10-year
approved Small Business Administration (SBA) Community strategic plan. We look forward to building upon BBIF’s success
Advantage lender in the state of Florida, and one of only 57 in as we continue to collaborate with our stakeholders and
the U.S. The BBIF is also a member of the Opportunity Finance partners throughout Florida. As you read through this report,
Network, a national group of CDFI’s. you’ll celebrate with us our accomplishments in 2012, and learn
more about plans for our continued growth and impact.
BBIF has created an economic impact in excess of $420 Million
into Florida’s economy with a historical loan loss of less than Each of our investors, partners, stakeholders and volunteers
are much appreciated and valued. We are keenly aware that
3 percent.
without your support, this work would not happen. We thank
you for your support as it makes a positive difference in Florida’s
As a Community Development Financial Institution (CDFI),
black, minority and underserved small business community. It
BBIF is a mission-driven financial institution that provides
is our privilege to connect with you to bring access to capital
financial products and services to businesses underserved by
and training to the businesses that we serve, helping to grow
traditional lending sources. BBIF has held both the responsibility
jobs and build a stronger Florida economy.
and opportunity in 2012 to help reconstruct our economy by
supporting black, minority and underserved small businesses
Sincerely,
throughout the state of Florida. We had a successful year
in 2012, providing access of $3,275,650 in loan capital to 14
businesses. These loans helped to create and retain 1795 jobs Jacqueline Barr
in Florida. Jacqueline Barr Inez Long
Chair President/CEO
2
BLACK BUSINESS INVESTMENT FUND
Providing FY 2012 ANNUAL REPORT
Access To
Presenting Capital
Information for
Business
Opportunities CONNECTING TO OUR MISSION:
Celebrating 25 YEARS OF CREATING ACCESS
In 2012, our 25th year of operation, the BBIF continued on its journey to build a more sustainable organization;
expanding its services and its geographic territory. The Fund’s ten-year Strategic Plan clearly outlines investments
needed to ensure the necessary capital for loan funds, loan fund reserves, staff capacity and infrastructure building.
2012 was a year of continued accomplishments for the BBIF. After tripling the size of our assets and servicing clients
statewide in 2010–2012, our organization has moved that much closer toward reaching our goal of $20,000,000 by
Enhancing October 2015. Over the last three years, BBIF has maintained an asset level of $14 million. In 2012, operating costs
Business declined by 16% due to a more efficient operation.
Capacity BBIF made a number of accomplishments in 2012, which included:
• Expanded partnerships
• Established and increased capital for two new loan funds
• Increased capital for operations
• Began implementation of the (SBA Community Advantage) Small Business Loan Fund
• Expanded statewide services and expanded staff
• Launched new, easy-to-use Internet technology, website features and forms
BBIF made significant progress in expanding its Loan Committee in 2012. With inclusion of both the public and
private sectors, the new loan committee members are a reflection of BBIF’s efforts to make the committee more
representative of our statewide focus to provide capital to black, minority and underserved small businesses
in Florida.
BBIF maintains a professional staff; combined, staff members have over 80 years of business and financial services
experience. In 2012, BBIF brought on 3 new staff members inclusive of a Junior Loan Officer, Technical Assistance
Officer and Loan Processor. This group of dedicated personnel is committed to the BBIF’s mission.
The growth and accomplishments of 2012 have helped strengthen BBIF’s capacity. This has enabled the organization
to continue to expand its loan and technical assistance services statewide, expanding our geographic territory
and thus providing financial resources and services to a greater amount of black, minority and underserved small
businesses.
3
BLACK BUSINESS INVESTMENT FUND
lending Technical
Assistance FY 2012 ANNUAL REPORT
BBIF Core
Services
10-year expanding our
strategic plan resources
A goal of BBIF’s ten-year Strategic Plan is to expand the Fund’s
resources and services statewide in Florida. This objective was
achieved through the successful administration of the Economic
Gardening Loan Fund which was launched in 2009 and
continued in 2012 with its permanent geographic expansion with
business the launch of the (SBA Community Advantage) Small Business
development Loan Fund. Since the program launch in October 2012, over 12
requests for a total of $2,362,300 dollars have been received.
Our strategy for business development embraces our mission to
develop and promote black business enterprises; and our goal
to increase our loan capital to $20 million to provide financial
resources to black, minority and underserved businesses.
high growth
Community Industries We believe that our long-term Strategic Plan of expansion
Capital will have a positive impact on the businesses that we serve,
impacting the creation of jobs, providing economic impact on
the economy and creating sustainability of our organization.
48
BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
about bbif
The Black Business Investment Fund (BBIF) is a non-traditional lender that specializes in providing loans to black, minority and underserved small businesses.
It is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified
BBIF_simpleLOAN
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Community Advantage Lender certified by the U.S. Small Business Administration and Black Business Investment Corporation (BBIC) certified by the State of
Florida. BBIF is also a member of the Opportunity Finance Network, a national group of CDFI’s. BBIF provides business loans that range from $5,000 - $250,000.
BBIF is the only approved SBA Community Advantage lender in the state of Florida, and one of only 57 in the U.S.
The BBIF administers five (5) loan programs, which are: the Black Business Loan Fund (BBLF), the Economic Gardening Loan Fund (EGLF), the Micro Loan Fund
(MLF), the Contract Financing Loan Fund (CFLF) and the Small Business Loan Fund (SBLF). Loan applications and qualifying criteria for each of the loan funds
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loan funds
The Black Business Loan The Economic Gardening The Micro Loan Fund (MLF) The Contract Financing The Small Business Loan
Fund (BBLF) provides Loan Fund (EGLF) provides provides loans to qualified Loan Fund (CFLF) Fund (SBLF) was formed
loans to qualified stage 1 loans throughout the stage 0 & 1 businesses that provides loans to black to provide SBA Community
Black-owned businesses entire state of Florida to are located in Orange, and minority businesses Advantage loans to
established a minimum qualified stage 2 Osceola, Seminole, Lake, with acceptable contracts established minority
of 2 years located in businesses established a Sumter, Polk, Hillsborough that are located in Lake, and underserved small
Orange, Osceola, minimum of 2 years, and Duval counties. Loan Seminole, Orange, and businesses
Seminole and Lake revenues of $1 million - amounts range between Osceola counties. Loan throughout the entire
counties. Loan amounts $25 million and 10 – 50 $5,000 - $50,000. sizes range between state of Florida. Loan
range between employees. Loan amounts This fund is race neutral. $10,000 - $250,000 secured sizes range between
$10,000 - $100,000. range between $50,000 by an acceptable $50,000 - $250,000. The
- $250,000. As of July 1, contract and must provide business must be of good
2011 all loan funds for this job creation. This fund financial condition and
program were expended. is for minority business provide job creation.
This fund is race neutral. enterprises. This fund is race neutral.
5
BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
Capacity development
BBIF’s Financial Technical Assistance services are designed to provide client firms with intense management
assistance and lead them to secure the best possible financing for their businesses. The goal of BBIF’s Financial
Technical Assistance program is to strengthen business owner’s management skills, resulting in stronger capacity
businesses that grow and employ more of Florida’s citizens.
BBIF delivers technical assistance in the following formats:
Business Owners Roundtable
Monthly roundtables allow for business owners to meet monthly in a group setting with other business presidents
and BBIF’s technical assistance team (consultants). In these monthly roundtable meetings business owners receive
coaching in finance, marketing, strategic planning, bond assistance, cost analysis, budgeting, bookkeeping,
human resources and law.
In this specialized financial technical assistance, businesses are provided an “initial assessment”. This assessment
consists of an evaluation of financial, accounting and operational systems and provides the business owners
feedback with written recommendations for overall business improvement. As a result of this type of intense
technical assistance, business owners develop stronger management skills yielding stronger businesses with the
capacity to create more jobs.
One–on-One Counseling
BBIF’s highly trained lending staff meet with business owners to provide focused advice specific to their unique
businesses.
Orientations
BBIF provides orientations twice monthly and advises business owners, in a group setting, of how to best utilize the
Fund’s services.
6BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
CLIENT SPOTLIGHTS
PATRICK BARNES BFA Environmental
Company Location: Orlando, FL
Owner: Patrick Barnes, P.E.
Number of employees: 30
Number of years in business: 19
Barnes, Ferland and Associates, Inc. (aka BFA Environmental) is an environmental engineering,
hydrogeological and land surveying firm. Established in 1994, BFA was created to help meet the growing
need for environmental consultants in the state of Florida. BFA is located in Orlando with satellite offices in
West Palm Beach, Miami and New Orleans, Louisiana. BFA is a graduate of the Small Business Administrations’ 8
(a) program and is a certified Minority Business Enterprise (MBE) with over 20 jurisdictions across the southeast.
They are dedicated to providing high quality professional services to their clients utilizing state-of-the-art
technologies and have worked on hundreds of projects for various municipalities throughout Florida. BFA’s
business philosophy is to provide their clients with responsive, reliable and cost-effective consulting services
through full technical and administrative engagement of the owners.
What does BBIF mean to you?
BBIF provides a critical bridge of technical and financial assistance to businesses that
are not traditionally provided such support. In 1994 and 1995 shortly after launching
BFA, we were denied a business line of credit on two assistance occasions before being
shepherded through the process by BBIF with technical support and a loan guarantee.
Needless to say that support enabled us, as a young firm, to focus more on service and
less on cash flow in that critical formative period. The staff at BBIF does an excellent
job of reaching out to the underserved business community and helping to bridge the
opportunity gap that results from access to capital. Additionally, the BBIF
roundtables and other events such as the BOSS functions are extremely helpful
ways of staying connected to opportunities for business growth.
-- Patrick Barnes, President - BFA Environmental
7BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
CLIENT STORIES
Warrnon & Ana Bell
The BRS Group, Inc.
Company Location: Altamonte Springs, FL
Owners: Warrnon & Ana Bell
Number of employees: 10
Number of years in business: 17
The BRS Group, Inc. (BRS), was established in 1995. BRS specializes in the design, installation, maintenance, and
consulting services of low-voltage security systems. Headquartered in Altamonte Springs, FL, BRS is licensed
as a low voltage contractor by the State of Florida. BRS’ mission is to provide their customers with excellent
performance, products and services, within budget. BRS’ staff has over 50 years of experience in the field of
low voltage systems and serves a diverse group of customers to include universities, federal, state and local
governments, stadiums, and arenas. BRS’ sharp focus on security systems and master planning helps them
to assist their clients with the operational changes brought about by continued changes in technology. BRS
remains at the forefront of technology and the continual improvements in the low-voltage industry.
What does BBIF mean to you?
BBIF has an incredible handle on providing loan and financial
technical assistance and knows how to effectively lend to small firms.
The team at BBIF does a fantastic job of listening to clients, sharing
their own creative ideas, and then combining the two visions into an
effective working plan. BBIF brings their own passion to see minority
and small firms succeed, which adds additional depth to delivery of
their services and events. I would not hesitate to recommend
them to a colleague or business contact needing assistance.
-- WARRNON M. BELL, PRESIDENT – THE BRS GROUP, INC.
8BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
CLIENT STORIES
SHERYL PAGE
Page One Consultants, Inc.
Company Location: Orlando, FL
Owner: Sheryl Page
Number of employees: 26
Number of years in business: 20
Created in 1993, Page One Consultants, Inc. (POC), is an Orlando-based engineering consulting firm. With a
specific mission to provide unbeatable customer service, POC specializes in Aviation Program Management,
Construction Management/Owner’s Representative, Construction Materials Testing, Construction Engineering
& Inspection, and Threshold, Building and Electrical Inspections. POC’s state-of-the-art, full service laboratory
is certified by the Construction Materials Engineering Council and approved by the Florida Department of
Transportation. POC’s professional team has an industry-wide reputation for delivering the highest quality
service from project inception to project completion. POC’s cross-functional training allows multi-tasking
across diversified areas. Page One’s philosophy since the company’s inception has been, “ You can be
honest and successful at the same time.” The Page One team embraces professionalism at the highest
regard and has a serious commitment to providing the best possible and cost-effective solutions to their
clients specific project needs.
What does BBIF mean to you?
BBIF has assisted me in many areas. Their monthly round table meetings have been
extremely beneficial to me. They have seen the ups and downs of our industry and
have provided numerous ideas on what and how to handle different situations. BBIF’s
lending program was very instrumental in assisting us through the “bad” times during
the past few years. Their financial team continually looks for ways to assist my firm with
our cash flow issues and our growth. It is just nice to know that someone (BBIF) really
cares about small businesses and gives great advice to help make us successful!
-- Sheryl Page, President - Page One Consultants, Inc.
9BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
MINORITY BUSINESS INSTITUTE
The Black Business Capital Finance Corporation (BBCFC) was created in 1993. An affiliate organization of BBIF, BBCFC
is a 501c3 charitable non-profit entity that provides fundraising, education and networking opportunities to support the
growth of minority businesses and the development of low and moderate income and affordable housing. BBCFC
partners with BBIF to host events through the Minority Business Institute.
The Minority Business Institute is designed to (1) provide assistance and support to minority businesses that are trying
to expand their networking relationships for increased contract opportunities, and (2) provide business leadership
development. The following events are supported, in partnership with the BBIF, by the BBCFC:
Business Beacons Brunch Central Florida Black Business Day
Black Business Beacons Brunch, hosted by the Black The BBIF Central Florida Black Business Day event helps
Business Investment Fund (BBIF), focuses on highlighting to foster an open and positive dialogue between Black
Florida’s trailblazing Black businesses. Held during Black elected officials as well as top procurement officers in
History Month, the event celebrates and salutes “Beacons: order to formulate strategic initiatives that would assist in
Our humble beginnings, our endless possibilities.” “opening business” opportunities for black businesses.
Business Opportunity Symposium Series Annual Business Networking Event
The Business Opportunity Symposium Series (B.O.S.S.) is The Business and Professional Networking Event provides
a quarterly forum designed to inspire and educate an an unparalleled opportunity for minority businesses and
audience of business owners and professions regarding professionals to meet and exchange valuable information
business trends, challenges, opportunities and best with majority firms in a relaxed atmosphere.
practices for business growth and success.
Annual Board & Partner Planning Session
The Annual Board & Partner Planning Session provides an
opportunity for the BBIF Board of Directors, Loan Committee
and staff to discuss and plan the implementation of future
strategic goals and programs for the organization.
10Due From Affiliates 117,707.00 43,040.00
Current Portion of Notes Receivable, Net 3,065,870.00 2,387,175.00
Total Current Assets 5,214,560.00 3,454,819.00
BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
Net Property and Equipment 84,468.00 98,931.00
STATEMENTs OF FINANCIAL POSITION
BLACK BUSINESS INVESTMENT FUND OTHER ASSETS FLORIDA, INC.
OF CENTRAL
BUSINESS INVESTMENT
BLACK BUSINESS INVESTMENTFUND
FUNDOF
OFCENTRAL
CENTRALFLORIDA,
FLORIDA,INC.
INC. BLACK BUSINESS INVESTMENT FUND OF CENTRAL5,780.00
Deposits FLORIDA, INC. 20,102.00
STATEMENTS OF ACTIVITIES
STATEMENTS
STATEMENTSOF OFFINANCIAL
FINANCIALPOSITION
POSITION Notes Receivable, Net 2,270,198.00
STATEMENTS OF FINANCIAL POSITION 5,193,787.00
September 30, 2012 AND 2011
September 30, 2012 AND 2011
September 30, 2012 AND 2011 Long Term Notes Receivable, Affiliates, Net 2,738,810.00
September 30, 2012 AND 2011 2,738,810.00
Total Other Assets 5,014,788.00 7,952,699.00
2012 2011 2012
TOTAL ASSETS 2011 10,313,816.00 11,506,449.00
2012 2011 2012 2011
Asset
Asset
Revenues and Other Support Asset
1,228,217.00 1,231,017.00
CURRENT ASSETS
CURRENT ASSETS Expenses 833,839.00
LIABILITIES
CURRENT ASSETS AND NET ASSETS 991,815.00 16%
Cash and Cash Equivalents Change in Net805,461.00 515,218.00
Assets From Operations 394,378.00 239,202.00
Cash and Cash Equivalents 805,461.00 515,218.00Cash and Cash Equivalents 805,461.00 515,218.00
Restricted Cash 1,105,973.00
Disposition 1,105,973.00 480,008.00
of Fixed Assets Gain480,008.00 Total Current
(Loss) Restricted Cash Liabilities
(12,926.00) (955.00) 3,262,690.00 2,269,668.00
Restricted Cash 1,105,973.00 480,008.00
Accounts Receivable Net Assets 99,320.00
Released From 10,005.00
Restrictions -
Accounts Receivable 99,320.00 10,005.00Accounts Receivable 99,320.00 10,005.00
Prepaid and Other 20,229.00 19,373.00 LONG-TERM LIABILITIES
Prepaid and Other Net Increase (Decrease)
20,229.00 in Net Asset
19,373.00Prepaid and 381,452.00
Other 238,247.00 20,229.00 19,373.00
Due From Affiliates 117,707.00 43,040.00 Long-Term DEBT and Capital Leases 3,444,428.00 6,011,535.00
Due Form
Current Affiliates
Portion of Notes Receivable, Net
Net Assets,3,065,870.00
Beginning
117,707.00of Year 43,040.00Due Form 3,225,246.00
2,387,175.00 Affiliates 2,986,999.00 117,707.00 43,040.00
Total Liabilities 6,707,118.00 8,281,203.00
Current Portion of
Total Current Assets Notes Receivable, Net Net Assets, End of Year
3,065,870.00
5,214,560.00 2,387,175.00
3,454,819.00 Current 3,606,698.00
Portion of Notes 3,225,246.00
Receivable, Net 3,065,870.00 2,387,175.00
Total Current Asset 5,214,560.00 3,454,819.00TotalNET
Current
ASSETSAsset 5,214,560.00 3,454,819.00
Net Property and Equipment 84,468.00 98,931.00 Temporarily Restricted Net Assets 115,000.00
Net Property and Equipment 84,468.00 98,931.00Net Investment
Property and Equipment - Unrestricted
Contributions 84,468.00
2,340,833.00 98,931.00
2,340,833.00
OTHER ASSETS Unrestricted Net Assets 1,150,865.00 884,413.00
OTHER
DepositsASSETS 5,780.00 20,102.00 OTHER ASSETS
Total Net Assets 3,606,698.00 3,225,246.00
Notes Receivable, Net
Deposits 2,270,198.00
5,780.00 5,193,787.00
20,102.00Deposits 5,780.00 20,102.00
Long Term
Notes Notes Receivable,
Receivable, Net Affiliates, Net 2,738,810.00
2,270,198.00 2,738,810.00 TOTAL
5,193,787.00Notes LIABILITIES
Receivable, Net AND NET ASSETS 10,313,816.00 5,193,787.00
2,270,198.00 11,506,449.00
Total Other Assets
Long Term Notes Receivable, Affiliates, Net 5,014,788.00
2,738,810.00 7,952,699.00
2,738,810.00Long Term Notes Receivable, Affiliates, Net 2,738,810.00 2,738,810.00
TOTALOther
Total ASSETS
Assets 10,313,816.00
5,014,788.00 11,506,449.00
7,952,699.00Total Other Assets 5,014,788.00 7,952,699.00
TOTAL ASSETS 10,313,816.00 11,506,449.00TOTAL ASSETS 10,313,816.00 11,506,449.00
STATEMENTs OF ACTIVITies
LIABILITIES AND NET ASSETS BLACK
BLACKBUSINESS INVESTMENT
BUSINESS INVESTMENT FUND OF CENTRAL
FUND FLORIDA,
OF CENTRAL INC. INC.
FLORIDA,
STATEMENTS
STATEMENTS OF ACTIVITIES
OF ACTIVITIES
LIABILITIES AND NET ASSETS September 30, LIABILITIES
2012 AND 2011AND NET ASSETS
Total Current Liabilities 3,262,690.00 2,269,668.00
September 30, 2012 AND 2011
Total Current Liabilities 3,262,690.00 2,269,668.00Total Current
2012Liabilities 2011 3,262,690.00 2,269,668.00
LONG-TERM LIABILITIES
Revenues 3,444,428.00
and Other Support6,011,535.00 2012
1,228,217.00 2011
1,231,017.00
Long-Term DEBT and Capital Leases
LONG-TERM LIABILITIES Revenues and Other Support 1,228,217.00 1,231,017.00
Total Liabilities Expenses 6,707,118.00 8,281,203.00 LONG-TERM LIABILITIES
833,839.00 991,815.00 16%
Long-Term DEBT and Capital Leases Expenses 3,444,428.00
Change in Net 6,011,535.00Long-Term
Assets From Operations 833,839.00
DEBT
394,378.00 Leases 991,815.00
and Capital239,202.00 3,444,428.00 16%
6,011,535.00
Total Liabilities
NET ASSETS Change in6,707,118.00
Disposition Net Assets
of Fixed From
Assets Operations
Gain (Loss)
8,281,203.00 394,378.00
(12,926.00)
Total Liabilities 239,202.00
(955.00) 6,707,118.00 8,281,203.00
Temporarily Restricted Net Assets Net Assets Released
Disposition of FixedFrom
115,000.00 Restrictions
Assets Gain (Loss) -
(12,926.00) (955.00)
NET ASSETSContributions - Unrestricted
Investment Net Increase
Net Assets (Decrease) in Net Assets
Restrictions NET ASSETS
Released From 2,340,833.00
2,340,833.00 381,452.00 - 238,247.00
Temporarily
Unrestricted Restricted
Net AssetsNet Assets Net Assets, Beginning
115,000.00of Year
Net Increase (Decrease) in Net Asset
1,150,865.00 884,413.00 3,225,246.00
Temporarily Restricted
381,452.00 Net2,986,999.00
Assets 238,247.00 115,000.00
Investment Contributions - Unrestricted
Total Net Assets Net Assets, End of Year
2,340,833.00
3,606,698.00 3,606,698.00
2,340,833.00Investment 3,225,246.00
3,225,246.00 3,225,246.00
Contributions - Unrestricted 2,340,833.00 2,340,833.00
Net Assets, Beginning of Year 2,986,999.00
Unrestricted Net Assets 1,150,865.00
Net Assets, End of Year 884,413.00Unrestricted Net Assets
3,606,698.00 3,225,246.00 1,150,865.00 884,413.00
TOTALNet
Total LIABILITIES
Assets AND NET ASSETS 10,313,816.00
3,606,698.00 11,506,449.00
3,225,246.00Total Net Assets 3,606,698.00 3,225,246.00
11BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
LOAN AND TECHNICAL ASSISTANCE ACTIVITY
Historical Loan Activity
6% 14%
80%
Approved loans for FY 2012 Technical Assistance Activity for FY 2012
29%
46%
54% 57%
14%
12BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
board of DIRECTORS,
INVESTORS AND PARTNERS
BBIF BOARD OF DIRECTORS PARTNERS
Jacqueline Barr (Chair) African American Chamber of JP Morgan Chase
President/CEO, Jacqueline Rogers Barr Enterprises, Inc. Commerce of Central Florida National Association for the
BankFirst Advancement of Colored People
Brindley Pieters (Vice Chair) Office of the Comptroller of the Currency
Caribbean American Chamber of
President/CEO, Brindley Pieters & Associates, Inc. Commerce of Florida Orange County Government
Central and North Florida Orange County Public Schools
Ola Nnadi, PH.D., P.E. (Treasurer/Secretary) Minority Supplier Development Council
President, Nadic Engineering Services, Inc. Orlando Orange County
Central Florida Urban League Expressway Authority
City of Orlando Orlando Regional Chamber
Commissioner Daisy Lynum
Darden Restaurants of Commerce
Commissioner District 5, City of Orlando
Enterprise Florida Small Business Development Center
Janice Connor Evangelical Lutheran Church in America TD Bank
Vice President Community Development Manager, TD Bank Town of Eatonville
Federal Deposit Insurance Corporation
Federal Reserve Bank of Atlanta University of Central Florida
INVESTORS United States Small Business
Florida Economic Development Council
Bank of America Administration
Regions Bank Florida Traditions Bank
Walt Disney World
State of Florida Florida Turnpike Enterprise
West Orange Chamber of Commerce
SunTrust Bank Greater Orlando Aviation Authority
Urban Trust Bank World Trade Center Orlando
Guardian Care Nursing and
Wells Fargo Rehabilitation Center
13BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
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O’Neal Barnett Credit Analyst, Wells Fargo Inez Long
President/CEO JASMINE
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Duane Lewis
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Renee Ligon Vice President, JP Morgan Chase
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Patrick McEvoy Vice President, GulfCoast Business Finance Office Manager & Human Resources
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Gerald Watson Vice President, Fifth Third Bank
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Oraine Reid
Joe Young Director of Community Development Services, Controller
Evangelical Lutheran Church in America Jasmine Houston
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Brittany Chatmon
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Erica Crawford, Marketing and Graphic Design
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Frank Dollison, Industrial Engineer Loan Processor
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14BBIF_simpleLOAN FUND LOGOs.ai 1 8/15/2012 1:04:54 PM
BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
A LOOK BACK, 2012’s MOST NOTEWORTHY ACCOMPLISHMENT
Black Business Investment Fund (BBIF)
Launches Statewide Small Business Loan Fund
In October 2012 BBIF launched a new, race-neutral, statewide loan initiative for minority and underserved small
businesses in Florida. Titled the Small Business Loan Fund (SBLF), loans are provided with a (Community Advantage)
Small Business Administration (SBA) guarantee. The loan sizes range between $50,000 - $250,000 and funds can be
used for working capital, equipment and certain real estate transactions.
The SBA Community Advantage program is a pilot initiative aimed at increasing the number of SBA 7(a) lenders
who reach underserved communities, targeting community-based, mission-focused financial institutions which were
previously not able to offer SBA loans. BBIF is the only approved SBA Community Advantage lender in the state of
Florida, and one of only 57 in the U.S. Earning the Community Advantage lender approval was a very competitive
process, and BBIF’s selection recognizes the quality of the organization.
In preparation of the official initiative launch BBIF held regional kick-off meetings in Jacksonville, Miami, Orlando
and Tampa in collaboration with the Florida SBA District Offices and regional Small Business Development Center’s
throughout Florida.
15BLACK BUSINESS INVESTMENT FUND
FY 2012 ANNUAL REPORT
301 East Pine Street, Suite 175
Orlando, Florida 32801
Telephone: (407) 649-4780
Fax: (407) 649-8688
Website: www.bbif.comYou can also read
