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The Business Consortium Fund, Inc.)
The Business Consortium Fund, Inc. (BCF) is a minority business development company created by the National Minority Supplier Development Council.
The BCF provides contract financing to NMSDC certified minority businesses across America through a network of local participating banks and NMSDC affiliates. The BCF is funded through several sources including corporations, state governments and foundations.
The BCF is continually improving and expanding the products and services it provides. Please contact them directly for any questions in regard to your particular needs.
LOAN RESTRICTIONS
Purpose:
To finance expenses related to the performance of a specific transaction only when a certified minority supplier has a contract or purchase order, and working capital is needed to supply the goods or services.
Borrower Eligibility:
1. Limited to racial/ethnic minority businesses certified by an NMSDC affiliate.
2. Borrower must have a contract or purchase order in hand.
3. The contract or purchase order must be with a corporate member of the NMSDC or one of
its local affiliates.
Ineligible Activities:
BCF loans cannot be used to:
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Pay off loan(s) to a creditor or creditors of the applicant, including IRS taxes due.
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Provide funds for distribution or payment to the principals of the applicant.
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Replenish funds previously used by the borrower.
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Fund non-profit enterprises.
Your Next Steps:
I. If you meet the three borrower eligibility criteria listed above, you must provide evidence
of each item.
II. Contact your nearest local affiliate of NMSDC or the BCF office for a list of participating
Certified Bank Lenders.
III. Contact the bank representative to initiate application process.
;)
For More Information:
Business Consortium Fund, Inc. (BCF)
305 Seventh Avenue, 20th Floor
New York, New York 10001
Telephone: (212) 243-7360
Fax: (212) 243-7647
www.bcfcapital.com
Copyright © 2000 NMSDC, Inc.
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