29 Mar IBM Continues Support for The NMSDC Business Consortium Fund
corporate contributions directly aid certified, minority-owned businesses
The NMSDC Business Consortium Fund (BCF), a US Treasury designated Community Development Financial Institution and a national direct lender to certified minority-business enterprises (MBEs), announced today a $150K contribution from International Business Machines Corporation – IBM (NYSE).
IBM is a long-standing corporate partner of BCF and was one of the first organizations to provide financial support more than three decades ago, which was later converted into a contribution. This investment went towards assisting the BCF to secure a firm position within the financial services industry. IBM has been a continuous supporter of BCF’s events and activities and in 2007 began contributing to the organization’s Sustaining Fund to support on-going operations.
“I want to thank IBM for being a long-standing capital access partner for BCF. BCF is committed to closing the racial wealth gap of providing access to capital to minority businesses. BCF remains committed to breaking down barriers to economic opportunity. Now more than ever, minority businesses need flexible capital to help them grow and compete in the digital economy” said BCF Chairman, President and CEO Henry Childs II.
“IBM is committed to utilizing minority-owned businesses within our supply chain and impacting the communities in which we live. We believe this contribution will assist in the growth of minority businesses who may become IBM suppliers in the future and provide innovative solutions not only to our organization, but to our customers as well,” said Nancy McGuire, IBM Vice President, Americas Services & General Procurement.
BCF was founded with the mission to help underserved minority businesses access the financing they need to thrive and help provide Paycheck Protection Program loans as well as equitable financing. All corporate contributions work toward BCF’s mission of strengthening minority businesses throughout America.
The NMSDC Business Consortium Fund (BCF), America’s most comprehensive financing and technical support organization exclusively serving NMSDC-certified businesses, provides loans, financial programs, and consulting services. Since 1987, BCF has provided more than $225 million in capital to minority-owned businesses that have been underserved by the greater lending community. BCF enables businesses to obtain financing with reasonable terms. Learn more at https://www.bcfcapital.com.
Media Contacts: Impact Consulting Enterprises
Cheryl McCants, firstname.lastname@example.org