BLACK BUSINESS INVESTMENT FUND
Presentation to the Orange County Board of Commissioners
Tuesday, August 17, 2010
BLACK BUSINESS INVESTMENT FUND
Who We Are…
•Investment Corporation Central Florida’s Premier Non-Traditional Lender - specializing in providing loans to minority & small businesses
•Created out of Florida Statue 288.7 (1985 Florida Small and Minority Business Act)
•Regulated Office of Comptroller of Currency and the Auditor General
•Certified by:OTTED
Black Business Investment Corporation (BBIC)U.S. Department of Treasury
Community Development Financial Institution (CDFI) Community Development Enterprise (CDE)
BBIF is an Economic engine for
Orange County
BLACK BUSINESS INVESTMENT FUND
Our Partners
BLACK BUSINESS INVESTMENT FUND
What We Do…
Access to CapitalBlack Business Loan FundEconomic Gardening Loan Fund
Technical AssistanceOrientationOne on One Staff CounselingBusiness Owners Roundtable
NetworkingAnnual Business Networking Event
Business OpportunitiesBusiness Opportunity Functions (Quarterly)Special Community Meetings
Core Services
BLACK BUSINESS INVESTMENT FUND
Our Approach...
BLACK BUSINESS INVESTMENT FUND
BBIF increased its capital in 2009…
•Provides loans to qualified stage 2 businesses •Revenues of $1 million - $25 million •10 – 50 employees •Loan amounts are: $50,000 - $250,000
•BBIF’s services have expanded $8.5 million in additional loan capital
BLACK BUSINESS INVESTMENT FUND
Access To Capital
Business Working Capital: Business lines of credit - Contract & A/R financing - Equipment financing
$4.5 million loan fund - established in 1988 provides loans to qualified stage 1 Black-owned businesses (established a minimum of 2 years). Loan amount are: $10,000 - $100,000.
$8.5 million loan fund - established in 2009, provides loans to qualified stage 2 businesses (established a minimum of 2 years, revenues of $1 million - $25 million and 10 – 50 employees.). This fund is race neural; it is available to any race business owner). Loan amounts are: $50,000 - $250,000.
BLACK BUSINESS INVESTMENT FUND
Support of the BBIF provides a excellent return to Orange County…
•BBIF provides a 1000% return back to the county Impacts property taxes & sales taxes directly
•BBIF is an Economic engine for the County A direct result of client business revenues
BLACK BUSINESS INVESTMENT FUND
BBIF’S TAX REVENUE IMPACT
Customer Jobs/Households 284
Customer Avg. Salaries $52,495
ORANGE COUNTYProperty Taxes = $1,192,800Sales Taxes = $969,058
$2,161,858BBIF’s returns the dollars to the
County
10x10x
BLACK BUSINESS INVESTMENT FUND
We are requesting support…
Issue: Strong demand from the business community
Resolve: BBIF has raised additional capital $1 million in additional loan capital – 2010
BLACK BUSINESS INVESTMENT FUND
Access To Capital
Business Working Capital: Business lines of credit - Contract & A/R financing - Equipment financing
$1.05 million loan fund To start October 2010 To provide loans to stage 0 & 1 businessesLoan amounts are: $5,000 - $35,000
NEW, starts October 1, 2010
BLACK BUSINESS INVESTMENT FUND
BBIF’S ECONOMIC IMPACT Oct. 1, 2009 - June 2010
* U.S. DOC Regional Industrial Multiplier 1:1.6767 * MCP @ UCF 1/1.89
$74,093,925
Customer Revenues $29,537,474
Customer Jobs 284
Customer Loans $3,347,262
ORANGE COUNTY
Customer Avg. Salaries $52,495
BLACK BUSINESS INVESTMENT FUND
BBIF’S TOTAL ECONOMIC IMPACT Oct. 1, 2009 - June 2010
* U.S. DOC Regional Industrial Multiplier 1:1.6767 * MCP @ UCF 1/1.89
$264,036,759
Customer Revenues$120,974,202
Customer Jobs 855
Customer Loans $7,650,316
Customer Avg. Salaries $44,076
BLACK BUSINESS INVESTMENT FUND
RL
2010 BBIF Annual & Professional Networking Event
Held May 2010Over 400 attendees
Several Orange County Clients
either participated or in attendance
Networking & Opportunity
BLACK BUSINESS INVESTMENT FUND
• Business Opportunity Luncheons• B.O.S.S. Events• SBDC Events• GOAA Events• FMSDC Events• UCF Events• OTTED Small Business Opportunity Forum• BBIC President Meetings• OCPS Events• DEC Events
Several BBIF hosted events held at the DEC training room facilities annually
Networking & Opportunity
The Renaissance at Carver Square A 293,706 Sq. Ft. 11-Story Mixed Use Development 320 Seat Multi-use Theatre 17 Residential Units Restaurants Retail Shops 60,000 Sq. Ft of Commercial/Office Spaces Small Business Institute 302 Space Parking Garage Located At The Corners of Parramore and Church
BLACK BUSINESS INVESTMENT FUND
RL
Orange County Client RL Burns, Inc.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 6Years in business: 15+Number of employees: 8Service(s): BBLF; TA
Specializes in pre-construction design-build, new building construction, renovation, facilities maintenance, and post construction services for commercial and multi-family construction projects in the State of Florida
Client Spotlight
Bob BurnsPresident
RL Burns, Inc.
BLACK BUSINESS INVESTMENT FUND
RL
Orange County Client P&G Mechanical, Inc.
Business InfoCity: Winter Garden, FLCounty: OrangeDistrict: 1Years in business: 13+Number of employees: 11Service(s): BBLF; TA
Air conditioning and plumbing All phases of the air conditioning and plumbing industry including the residential, multi-family, commercial and service markets. Services include: Hydronic piping systems installation, Sheet metal and fiberglass duct installation, Services and maintenance of HVAC systems, Plumbing installation, Installation of piping systems and ductwork, Design/build HVAC systems, Commercial and residential service.
Client Spotlight
Floyd PerkinsPresident
P&G Mechanical, Inc.
BLACK BUSINESS INVESTMENT FUND
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Orange County Client Tecport Optics, Inc.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 4Years in business: 12+Number of employees: 12Service(s): EGLF; TA
Manufacturer of top quality thin film vacuum deposition systems. Sophisticated systems employ leading edge technology such as high density plasma, achieving coating characteristic that has never been seen before. Tecport serves high tech industries such as semiconductor, precision optics, alternative energy (solar cell), LED, flat panel display, imaging and telecommunication.
Client Spotlight
Joseph KimExecutive Vice President
Tecport Optics, Inc.
BLACK BUSINESS INVESTMENT FUND
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Orange County Client GPC Maintenance Systems, Inc.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 3Years in business: 10+Number of employees: 8Service(s): BBLF; TA
Client Spotlight
Bert GeathersPresident
GPC Maintenance Systems, Inc. GPC provides pressure washing and industrial cleaning services to private and public entities. Clients include Walgreens, Florida Turnpike Enterprise and the Orlando Orange County Expressway Authority
BLACK BUSINESS INVESTMENT FUND
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Orange County Clients District 3
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 3Service(s): BBLF; TA
Client Spotlight
Robbi Stiell Owner
MXY, LLC
Sam ButlerPresidentUSE, Inc.
Michelle JohnsonPresident
Celeste MIchelle Jewels, LLC.
USE Inc. is a security service provider for airports nationally as well as staffing services. USE is an 8A Certified contractor. USE has been in business for over 16 years.
MYX LLC. is a new ‘green’ cafe concept specializing in unique beverages with an environmentally friendly focus.
Celeste Michelle Jewels LLC. is new fashion/costume jewelry designer and wholesaler. The company designs, produces and sells trend jewelry to better department and specialty stores across North America & Europe.
BLACK BUSINESS INVESTMENT FUND
RL
Orange County Client Page One Consultants, Inc.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 4Years in business: 16+Number of employees: 19Service(s): EGLF; TA
An engineering firm that provides Construction Engineering and Inspection Services (CEI), Consulting, Building Engineering Inspection, Construction Material Testing (CMT), Threshold and Welding Inspection Services, Building Inspection Services, Environmental Services, Geotechnical Services and Program/Construction Management.
Client Spotlight
Sheryl PagePresident
Page One Consultants, Inc.
BLACK BUSINESS INVESTMENT FUND
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Orange County Client BFA Environmental, Inc.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 3Years in business: 16+Number of employees: 19Service(s): BBLF; EGLF; TA
An environmental engineering and hydrogeological consulting firm, established in 1994 to help meet the growing need for environmental consultants.
Client Spotlight
Patrick BarnesPresident
BFA Environmental, Inc.
BLACK BUSINESS INVESTMENT FUND
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Orange County Client Progressive System Solutions, Inc.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 2Years in business: 16+Number of employees: 19Service(s): EGLF; TA
A full service IT consulting firm dedicated to helping Central Florida business do better. PSS provides a full range of integrated solutions including accounting and finance, project accounting, manufacturing, networking, internet security, programming, application training and ongoing customer support. PSS can work in conjunction with existing IT staff or provide complete IT services, based on their client's requirements. Progressive System Solutions is a Microsoft Gold Certified Partner and ISV Solution Provider.
Client Spotlight
Carolyn JasiulewiczPresidentPSS, Inc.
BLACK BUSINESS INVESTMENT FUND
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Orange County Client ACE Construction Management
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 5Years in business: 10+Number of employees: 3Service(s): TA
ACE Construction Management is a local firm that specializes in project and other construction management services.
BBIF Technical Assistance client and ACE President JaJa Wade is the Chairman of the Orange County Pine Hills Redevelopment Task Force.
Client Spotlight
JaJa WadePresident
ACE Construction Management
BLACK BUSINESS INVESTMENT FUND
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Orange County Client Protean Design Group, Inc.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 3Years in business: 23+Number of employees: 13Service(s): TA
A multi-disciplined civil engineering consulting firm founded on the principal that diversity, ingenuity and forward-thinking ideas will make a greater impact on business success. The way PDG thinks and approaches every project makes their organization stand apart from traditional engineering firms. PDG has brought together the finest minds in Civil Engineering, with expertise in Transportation, Site Development, Traffic and Lighting. PDG is not an ordinary engineering company, they are one of the most innovative design firms working to set the trends of the future.
Client Spotlight
Kimberly HorlanderPresident
Protean Design Group, Inc.
BLACK BUSINESS INVESTMENT FUND
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Orange County Client BASE Consultants, P.A.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 5Years in business: 3+Number of employees: 5Service(s): TA
•Structural engineering and parking consulting firm •Specialize in services for architectural, transportation, environmental, recreational, municipal and educational facilities
Client Spotlight
Saila AlathPresident
Base Consultants, P.A.
BLACK BUSINESS INVESTMENT FUND
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Orange County Client A.D.S Welding, P.A.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 6Years in business: 14+Number of employees: 8Service(s): BBLF
•A welding company •Specializes in SIP (stay in place metal) •Rebar bridge work
Client Spotlight
Anthony SylvesterPresident
A.D.S Welding, Inc.
BLACK BUSINESS INVESTMENT FUND
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Orange County Client CELECTSYS, INC.
Business InfoCity: Orlando, FLCounty: OrangeDistrict: 3Years in business: 16+Number of employees: 10 Service(s): BBLF
•Electrical contracting•New construction – industrial & commercial buildings• Upgrading of existing electrical systems •Emergency power improvement•Lighting for sports fields •Underground utilities
Client Spotlight
Errol GreenidgePresident
BLACK BUSINESS INVESTMENT FUND
We ask for your support of our funding request.
Thank You!
BBIF Central Florida315 E Robinson Street, Suite 660
Orlando, FL 32801P: 407.649.4780F: 407.648.8688