Stages:

• Middle Market

 

Industries:

Business Services

Information Technology

 

Description:

The Business Consortium Fund, Inc. (BCF) is a non-profit business development program of the National Minority Supplier Development Council (NMSDC). The Fund is a comprehensive financing and business support organization dedicated exclusively to the ethnic minority-owned business sector. The BCF loan program is limited to ethnic/racial minority business enterprises that have been certified by a National Minority Supplier Development Council affiliated Regional Council and have a supplier/vendor relationship with a corporate member of the NMSDC or an affiliate Regional Council of the NMSDC. The total amount of the LGPP loan facility is determined by the participating lender; however the BCF's maximum exposure may not exceed $1,125,000 in a participation loan, or on a guaranteed loan. In each case, the participating lender must retain a minimum of 25% of the amount of loan facility. The BCF's mission of providing access to capital for minority-owned businesses is enhanced through Strategic Alliance Partners and subsidiaries that offer the following alternative financing products not provided in the BCF's core Loan Guaranty/Participation Program: Commercial and Government Accounts Receivable Financing; Equipment Leasing; Commercial Real Estate Financing; Franchise Financing; Accounts Receivable Factoring; Long Term Debt/Equity; and USDA Business & Industry Loans & Loan Packaging Services. The fund also provides long term mezzanine type funding to small businesses that may be socially or economically disadvantaged. These companies must have a net worth less than $18 million and average net income for the last two years of less than $6 million. BCF also maintains regional offices in Dallas, Los Angeles, Vernon, CT, and Hilton Head, SC. 1002 loans have been created.