02 Sep 2022 BCF Advances Its Growth Mission
BCF Advances Its Growth Mission with New Bank Loan Capital From Charles Schwab Bank, KeyBank, HSBC, First Republic Bank and CNote
Business Consortium Fund is excited to announce several new partnerships with Charles Schwab Bank, KeyBank, HSBC, CNote, and First Republic Bank to receive additional lending capital to further support minority-owned businesses. With the funding that BCF already received from Finance Justice Fund, BCF now offers more than $10 million in affordable lending capital for minority business enterprises throughout its network.
Additionally, BCF is also pleased to announce a partnership with CornerSquare Community Capital, which will purchase a 25% subordinate position on some qualifying loans at no cost. These purchases will provide first-loss protection and will allow BCF to recycle lending capital more quickly.
With millions in affordable lending capital for MBEs throughout its network and more fundraising in development, BCF’s pipeline is strong, and the team is busy underwriting new loans daily. All four partnerships help to support BCF’s ambitious growth plans of scaling and multiplying impact to support businesses owned by people of color.
BCF encourages business owners of color to invest in themselves and work with BCF financial advisors to identify affordable ways to grow their businesses. Please follow BCF’s LinkedIn, https://www.linkedin.com/company/business-consortium-fund, and Twitter, https://twitter.com/bcfcapital, social channels.
BCF remains grateful to all clients and supporters for their partnerships. If you want to support BCF’s work or apply for a loan, please contact BCF today.