capradio-brand.png

BBIF FLORIDA RECEIVES FOURTH NEW MARKETS TAX CREDIT AWARD FOR $33.5 MILLION

BBIF FLORIDA RECEIVES FOURTH NEW MARKETS TAX CREDIT AWARD FOR $33.5 MILLION

Orlando - The Black Business Investment Fund of Central Florida (BBIF) is pleased to announce it has been awarded $33.5 million in New Markets Tax Credits (NMTC) from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. Since receiving its first federal NMTC allocation in the 2014 funding cycle, BBIF has been awarded four allocations totaling $93.49 million.

“We are honored by CDFI Fund’s support of our work and affirmation of our mission to provide low-cost, flexible capital and technical assistance to small and medium-sized businesses owned by Black, minority, and other underserved women and men in our state,” said Inez Long, CEO of BBIF. “We will use this allocation to invest in job creation, healthcare, education, and purveyors of fresh food in severely distressed communities and we are honored to be entrusted to support and invest in our underserved communities, particularly during this health and economic crisis.”

Since its inception in 2001, the NMTC program has awarded more than $61 billion to projects across the United States.

 

 LEARN MORE

Category: Editorials
Copyright © 2020 Caribbean American Passport News Magazine. All Rights Reserved.