NEW YORK, Feb. 16, 2021 /PRNewswire-PRWeb/ -- The NMSDC Business Consortium Fund (BCF), a US Treasury designated Community Development Financial Institution (CDFI) and a national direct lender to certified minority-owned businesses, appointed Henry Childs II, Esq. as chairman, CEO and president. BCF serves as the lender of choice for National Minority Supplier Development Council-certified minority business enterprises (MBEs). Mr. Childs brings a wealth of leadership experience and knowledge to the role as the former national director for the U.S. Department of Commerce's Minority Business Development Agency and advisor to the president of the National Minority Supplier Development Council. Childs joins BCF at a pivotal moment in the organization's history as BCF focuses on providing MBEs with access to capital.
BCF has provided more than one thousand loans since its founding in 1987, and is on track to significantly expand its financial assistance this year. In December 2020, BCF announced a partnership with Retail Business Services, the services company of Ahold Delhaize USA. Retail Business Services donated $100,000 to BCF to be administered as low-interest loans to NMSDC-certified, minority-owned businesses, with a specific focus on Black-owned businesses.
"I am excited to join the BCF team and make certain that minority business owners know they have a financial ally committed to providing them with access to capital," said BCF board chairman, president and CEO Henry Childs II, Esq. "BCF and our partners bring a deep history rooted in eliminating racial wealth gaps, along with our mission and money to the table as we provide MBEs with the flexible funding needed for success."
As the COVID-19 pandemic continues to disproportionately hit minority communities and challenge minority-owned businesses, BCF is uniquely positioned to provide essential relief. Under Child's leadership BCF intends to revitalize its community development efforts, refine its funding goals, and get to work helping the businesses that need their help the most – certified minority-owned enterprises. BCF also offers financial advisement, exclusive discounts on technology products, and Paycheck Protection Program loans through a partnership with the First Bank of the Lake.
During Childs' tenure at MBDA, investments resulted in $4.7 billion in financing and contracts for minority-led firms. Childs also served as the Head of the United States Delegation to the Working Party at the Organization for Economic Cooperation and Development, as well as a policy advisor to the White House Office of Public Affairs. Throughout his career, Childs prioritizes advancing minority business above all else.
About BCF
The NMSDC Business Consortium Fund (BCF) is America's most comprehensive financing and technical support organization exclusively serving NMSDC-certified businesses, providing loans programs and consulting services. Since 1987, BCF has provided capital to NMSDC certified businesses who have been underserved by the greater lending community by enabling them to obtain necessary financing on reasonable terms. Learn more at https://bcfcapital.com.
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SOURCE BCF
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