BFCG provides economic guidance to local businesses, helping to create new opportunities for the communities they serve.
The primary purpose of all the loan funds that we administer is to help businesses in our community to expand and prosper, and in doing so, create new jobs.
Our financing programs provide the following benefits to all parties involved.
Benefits to the Community:
- Creates new permanent jobs
- Expands tax base
- Stimulates increased economic activities within the local community
- Offering an alternative option for financing- “We never want it to stop at the bank or us. If we can’t help you, we will help you find someone who can.”
Benefits to the Small Businesses:
- Low down payments – Enables the borrower to keep working capital invested in receivables and inventory where it earns a profit and increases the return on equity.
- Long term financing- Matches maturity of the loan to the useful life of the asset. Debt service is better matched to cash flow.
- Technical assistance- Provided through the life of the loans and helps increase business success rates.
- Reasonable interest rates.
Benefits to the Lenders:
- Reduced Collateral Risk – Provides collateral substitution or increased collateral cushion.
- Reduced Credit Risk – Provides better matching of debt service to cash flow by allowing working capital to be invested in profit making assets.
- Opportunities for Business Development – Partnerships when prospecting to clients and able to offer gap financing upfront as an option.
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