National Minority Supplier Development Council Business Consortium Fund, Inc.

Capitalizing Minority Enterprise

aka Business Consortium Fund   |   New York, NY   |  http://www.bcfcapital.com

Mission

The National Minority Supplier Development Council Business Consortium Fund, Inc. is the nation’s sole lender dedicated exclusively to financing NMSDC certified minority businesses. It is a not-for-profit 501c (3) organization affiliated with the National Minority Supplier Development Council, Inc. and is also certified by the United States Department of the Treasury as a community development financial institution. The organization offers a wide range of financing programs and business advisory services to NMSDC certified minority businesses.

Ruling year info

1986

President

Sahra S. Halpern

Main address

1345 Avenue of The Americas Suite 33-031

New York, NY 10105 USA

Show more contact info

EIN

13-3407599

NTEE code info

Economic Development (S30)

Management & Technical Assistance (W02)

Management Services for Small Business/Entrepreneurs (S43)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Programs and results

What we aim to solve

SOURCE: Self-reported by organization

We aim to address the problem of the lack of capital, technical assistance, and capacity building tools for minority business enterprises that have opportunities with large corporations and government agencies. Oftentimes, even with contracts in hand, minority business enterprises (MBEs) are unable to obtain capital from traditional sources, namely, commercial banks. As a CDFI (Community Development Financial Institution), we provide loan programs through an alternative lending, impact financing platform to address the access to capital problem for minority businesses.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

BCF Direct Loan Program

The BCF Direct Loan Program (“DLP”) assists MBEs in obtaining financing including: lines of credit, contract financing, intermediate term loans, working capital loans and equipment financing. The loan is processed and approved in-house.

Population(s) Served
Ethnic and racial groups

Where we work

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Our goal is to raise lending capital so that, through loans and technical assistance to MBEs, we can facilitate, at a minimum, MBEs (minority business enterprises) achieving entrepreneurial parity. "Entrepreneurial parity is defined as reaching proportionality between the minority population percentage and the percentage share of business development measures such as number of firms, gross receipts, and employment." (mbda.gov) (See the following for a deeper understanding of the benefits of achieving entrepreneurial parity: https://www.mbda.gov/page/executive-summary-disparities-capital-access-between-minority-and-non-minority-businesses.) Generally, however, if there was entrepreneurial parity in 2002, then MBEs would have generated $2.5 trillion in gross receipts, rather than $661 billion; and, MBEs would have employed 16.1 million persons, rather than 4.7 million persons. We are aiming to facilitate the achievement of entrepreneurial parity, and the associated minority wealth creation, minority job-creation, and minority community job-growth.

Our strategy is multi-fold:
(1) Cultivate and nurture relationships with sources of operating and lending capital including: commercial banks, corporate and private foundations, insurance companies, family offices, high net worth individuals, and other entities that can provide capital for our mission.
(2) Raise and deploy $20-30 million in lending capital annually as we manage towards self-sufficiency through net interest margin.
(3) Collaborate with other lenders and sources of private equity, to facilitate larger capital flows into minority businesses.
(4) Establish, deliver, and facilitate the establishment and delivery of venues via which technical assistance can be provided to minority business owners and executives so that capacity building can be enabled.

We have been lending to MBEs (minority business enterprises) certified by the regional councils of the National Minority Supplier Development Council (NMSDC) since 1987, throughout the United States. We know how to make good loans in this space. We have an active board of directors, executive committee, board committees, management structure and operating infrastructure to make loans to MBEs. And, we are re-developing our technical assistance delivery infrastructure. Further, we are closely aligned with each of the 23 regional councils of the NMSDC, and as a result, we have a national footprint. Additionally, we have recently upgraded our IT infrastructure to more efficiently and effectively deploy our capital. Finally, we are expanding our collaborations with other lenders and working with large national banks to increase our capital base to expand our lending.

Our first loan was to a woman of color business owner in Houston, TX. Since 1987, we have facilitated more than $215 million of loans, to more than 800 minority businesses, and our loans have created more than 7,300 jobs.

We are currently raising capital to serve a minimum of 140 new entrepreneurs of color over the next three years. BCF is undertaking efforts to recapitalize, revitalize, and continue to serve as the bridge between MBEs and the U.S. corporations that can provide meaningful supplier contracts that result in wealth creation for entrepreneurs of color. Part of this plan is to put Business Consortium Fund on a path toward self-sufficiency as we grow our net assets through increased net interest margin.

In November 2021, with support from a new national bank partner, we launched a new microloan program. We expect to originate at least 100 microloans over the next six months, and this flexible capital will lower barriers of entry to entrepreneurs of color seeking to establish and grow their businesses.

Financials

National Minority Supplier Development Council Business Consortium Fund, Inc.
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Operations

The people, governance practices, and partners that make the organization tick.

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National Minority Supplier Development Council Business Consortium Fund, Inc.

Board of directors
as of 11/24/2021
SOURCE: Self-reported by organization
Board chair

Ms. Kris Oswald

UPS

Term: 2021 - 2022

John Adams

Retired, PepsiCo, Inc.

Jeffrey Underweiser

Underweiser and Underweiser

Stacey Key

Georgia Minority Supplier Development Council, Inc.

Terrez Thompson

The Coca-Cola Company

Mark Fischer

General Motors Company

Clifford Bailey

TechSoft Systems

Adrienne Trimble

National Minority Supplier Development Council

Organizational demographics

SOURCE: Self-reported; last updated 11/24/2021

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
Multi-Racial/Multi-Ethnic (2+ races/ethnicities)
Gender identity
Female, Not transgender (cisgender)
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

No data

Gender identity

No data

 

No data

Sexual orientation

No data

Disability

No data