Sarah Halpern

President and CEO of the Business Consortium Fund (BCF) and Triad Investments. Here's a summary of the key points discussed:

---

🎙️ Episode Highlights 🌟 About BCF and CDFIs

• BCF is a nonprofit lender and a Community Development Financial Institution (CDFI).
• CDFIs are designated by the U.S. Department of the Treasury and exist to serve underserved communities.
• There are about 2,000 CDFIs across the U.S., working in small business and affordable housing sectors.

💼 Mission and Services

• BCF provides capital and support to minority-owned businesses, especially those with B2B models.
• They focus on relationship-based lending, helping clients through business cycles rather than writing off loans quickly.
• Since 1987, BCF has originated $228 million in loans and financed 950 minority business enterprises.

🧭 Application Process

• Applicants need to provide:
  • Three years of tax returns
  • Credit score
  • Bank statements
  • Cash flow analysis
• BCF emphasizes transparency and trust in the application process.

💡 Financial Advice for Entrepreneurs

1. Know your industry – Understand the specific requirements of the sector you serve.
2. Know your credit score – Monitor and improve it as needed.
3. Don’t take on debt you can’t repay – Ensure your business cash flow can support loan repayment.

🤝 Community Engagement

• BCF relies heavily on word of mouth and community trust.
• They encourage early relationship-building, even before financing is needed.

📍 Location and Access

• BCF is physically based in New York but lends nationwide.
• Website: bcfcapital.com

---

#SHMS #STRAW #BEST

Support the show: https://www.steveharveyfm.com/

See omnystudio.com/listener for privacy information.