BCF waives loan application fees through March 31, 2024. As part of their commitment to supporting businesses owned by people of color, the Business Consortium Fund (BCF) has announced that they will be waiving all loan application fees through March 31, 2024. This initiative is aimed at helping entrepreneurs and business owners access the funding needed to grow and thrive in a post-pandemic economy.
NEW YORK, Feb. 13, 2024 /PRNewswire-PRWeb/ -- Business Consortium Fund (BCF), the country's only community development financial institution dedicated to diverse suppliers, today announced the launch of a new loan program entitled "Elevate and Celebrate – BCF's Black History Business Boost." This initiative is designed to encourage business owners of color to create history by accessing the long- and short-term financing needed to grow their businesses and help close America's racial wealth gap.
In an effort to fill our country's pipeline of growing businesses, BCF will waive their standard application fees during the months of both February and March. BCF is working together with the National Minority Supplier Development Council and its regional affiliates to promote this offering. The "Elevate and Celebrate – BCF's Black History Month Business Boost" program offers competitive loan products for business owners of color. These include:
- Business Loans: Products range from $50,000 to $1 million
- Competitive Rates
- Loan Consultation Support
"As we kick off Black History Month, I am proud to share that BCF continues to support the growth and development of minority-owned businesses across the country," said Business Consortium Fund President and CEO Sahra S. Halpern. "Black History Month is a celebration of heritage, resilience, and unbridled innovation, and this is the perfect time for BCF to help business owners of color grow and invest in their communities. That's why we're committed, now more than ever, to offer competitive loan products and services that cater to the unique needs of emerging MBEs."
Those who apply for loans this February and March will have their application fees waived, a $350 value, by using promo code BHM24 when they complete their loan applications before midnight on March 31, 2024. This financial relief will allow business owners to channel their energy into what really matters – building the future of their enterprises.
It's easy to apply. Simply click here for details. Minimum pre-qualification criteria:
- At least three years in business
- No bankruptcies, tax liens, or judgments in the last three years
MBE owners who secure loans can use the monies, regardless of dollar amount, for working capital, taking on additional projects, refinancing existing debt, debt consolidation and solutions, equipment financing, information technology (IT) upgrades, payroll, inventory, digital marketing campaigns, business expansion and acquisition, relocation, leasehold improvements, and other BCF-approved uses.
ABOUT BUSINESS CONSORTIUM FUND
The Business Consortium Fund, Inc. is a 501 (c)(3) certified, not-for-profit business development group designated by the United States Department of the Treasury as a Community Development Financial Institution (CDFI). Today, BCF is America's most comprehensive financing and technical support organization exclusively serving business owners of color. The CDFI offers loan programs and consulting services through their strategic partners, including the NMSDC network of 23 affiliated regional councils. Non-media-related inquiries may be directed to [email protected] or via telephone at 1-212-243-7360.
Media Contact
Cheryl McCants, Impact Consulting Enterprises, (646) 872-2377, [email protected], https://www.eimpactconsuting.com
Roger Baron, Impact Consulting Enterprises, (973) 337-2028, [email protected], https://www.eimpactconsulting.com
SOURCE Business Consortium Fund
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