The Business Consortium Fund (“BCF”) has initiated a new Direct Lending Program for NMSDC certified MBEs. The new BCF program can provide loans to MBEs in the range of $75,000 to $1,125,000 with the maximum term of any loan being 7 years. The BCF now has the capability to address many of the working capital needs of a MBE with this new loan program, its Loan Guaranty/Participation Program and its Factoring Finance Program. BCF loan pricing will be based on an overall assessment of the MBE and will seek to be competitive with rates offered by banks and other lenders. MBEs seeking a BCF loan should:
ü Be seeking to grow their business to the next level;
ü Have a solid financial condition and credit history (able to explain any credit blemishes);
ü Be near or above break-even the last 3 fiscal years;
ü Be able to clearly demonstrate its ability to pay back the loan.
There is a non-refundable $250 application fee for the Direct Lending Program. MBEs must be NMSDC certified and doing business with a NMSDC national or local corporate member to apply. To find out more about the program or to request an application for potential funding, please contact the BCF at 212-243-7360 or at firstname.lastname@example.org. You may also download the BCF Financing Programs Application the BCF website at www.bcfcapital.com.