Business Consortium Fund

About The Fund

The Business Consortium Fund (BCF) is a non-profit business development program initiated by the National Minority Supplier Development Council (NMSDC) to assist certified minority-owned businesses facing challenges securing financing from conventional sources on reasonable terms. With headquarters in New York, BCF equips these businesses with a full range of financing products and services through a national network. Their product offerings include lines of credit, contract financing, working capital loans, equipment financing, and intermediate-term loans. BCF's overarching goal is to furnish minority enterprises with the necessary capital and support to prosper within the supply chains of significant corporations and government entities, while also tackling barriers and biases like redlining by championing diversity and inclusion in the national economy. This includes expanding their focus to support other underserved business owners such as women, LGBTQ+ individuals, veterans, people with disabilities, and low-wealth entrepreneurs. BCF is a Community Development Financial Institution (CDFI), certified by the U.S. Department of the Treasury, committed to fostering economic prosperity and driving systemic change. Besides financing, BCF facilitates access to resources like the Diverse Supplier Finance Institute and offers financial education and training to their clients. Key requirements for loan applicants include a minimum of 51% ownership by minority or disadvantaged entrepreneurs, a personal credit score of 650 or above, three or more years in business, a gross annual revenue upwards of $150,000, positive cash flow, and a business-to-business or business-to-government model with at least one primary or subcontract, or purchase order. BCF is known for its tailored financing solutions, technical assistance during the application process, and simplicity in lending, aiming to provide an easy, personalized, and transparent service for its clients.