FAQs

Our loan amounts range from $50,000 and up to $1 million. Loan amounts are determined after application review.

Interest rates are determined after application review. Interest rates vary depending on each loan and market conditions.
Term loans up to five years and credit lines renewable annually.

Funds can be used for business expenses, including but not limited to:
Contract financing; Working capital; Inventory purchases; Equipment and machinery purchases; Technology upgrades; Leasehold improvements; and Refinancing of high-cost business debt.

To get a sense of how much your monthly loan payments will be, you can use this loan payment calculator. Official payment amounts will be determined once a loan is approved.

There are no pre-payment penalties for all of our loans.

Yes, BCF will file a UCC1 blanket lien on the business assets. Additionally, BCF may require the borrower to pledge additional collaterals such as commercial/residential real estate, equipment, commercial vehicles, or contracts.

Minimum qualification criteria:
• 51% ownership must be held by MBEs or socially and economically disadvantaged entrepreneurs. BCF's loan programs are designed to promote economic prosperity through fostering a more inclusive economy.
• Business have been in operation for at least 3 years with verifiable business revenue (tax returns, financial statements.)
• Gross annual revenue of $150,000 or higher in prior year
• Business models – Business-to-Business (and B2B2C) or Business-to-Government
• Have at least one (1) new or existing primary or subcontract, or purchase order
• Personal guarantee of all principals with 10% or higher
• Minimum Global Debt-Service Coverage Ratio: 1.20x

Excluded industries include: nonprofits, cannabis, adult entertainment, real estate investment, lending, banking, and gambling.

All 50 States, the District of Columbia and Puerto Rico.

A minimum credit score of 650 will be required. Scores lower than 650 will be considered on a case-by-case basis.

Without exception, BCF requires a personal guarantee on all business loans for all owners of 10 percent (10%) or more of the ownership shares of the business.
If the business is owned fully or partially by a Limited Liability Company (LLC) or trust, that entity will have to guarantee the loan as well.

While it is not mandatory that your business be MBE certified, we highly recommend and encourage that you obtain certification from either the National Minority Supplier Development Council (NMSDC) or a state agency, or be active in the federal government’s SBA 8(a) program.

BCF does not offer loan products to businesses with less than three (3) years of verifiable business revenue (tax returns, financial statements.)