BAC
BAC Funding Corporation is a 501(c)(3) Miami-based nonprofit CDFI founded in 1982 that provides asset-based loans ($25K-$300K), equity investments, and real estate services to African-American owned SMBs across South Florida.
- Company typePrivate
- Founded1982
- HeadquartersMiami, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What BAC does
BAC Funding Corporation is a 501(c)(3) Florida nonprofit community development corporation founded in 1982 (originally as Business Assistance Center, Inc.) and headquartered in Miami, FL. The organization operates as a certified Community Development Financial Institution (CDFI) through its affiliate BAC Funding Consortium, Inc., and provides asset-based lending and equity capital to African-American owned businesses across South Florida — primarily in Miami-Dade, Broward, and Palm Beach Counties. It targets established SMBs (minimum 3 years operating history) with capital needs ranging from $25,000 to $300,000.
BAC's core product suite consists of four capital deployment vehicles: the Merchant Banking Fund (1-year revolving credit lines for working capital, receivables, and inventory), the Risk Capital Fund (2-5 year term loans for equipment, acquisitions, and the 504 program), the Guaranty Fund (1-3 year letters of credit to strengthen client creditworthiness), and Equity Investments (1-5 year joint-venture capital for real estate, franchises, and alternative energy). The organization complements these products with a five-acre office/warehouse/incubator complex (53 office units, 21 incubator spaces, 8 warehouse units), technical assistance, and a Job Assistance Center operated jointly with Miami-Dade College.
Revenue derives from three streams: interest and fees on the loan portfolio (which has averaged a 14.94% gross return over 12 years), government and foundation grants (e.g., $1,000,000 U.S. Treasury CDFI award in 2000, $75,000/year from Wells Fargo Foundation), and real estate rental income from the $33.5M MLK Transit Office Building & Garage Complex. Distribution is direct-to-SMB, community-led via chamber of commerce and educational institution partnerships, with cumulative disbursements of $50-70M across 500+ investments and 1,000+ clients since inception.
BAC firmographics
Firmographics- Name
- BAC
- Legal name
- BAC Funding Corporation
- Website
- https://bacfunding.com
- Company type
- Private
- Founded year
- 1982
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- BAC Funding Corporation is a 501(c)(3) Miami-based nonprofit CDFI founded in 1982 that provides asset-based loans ($25K-$300K), equity investments, and real estate services to African-American owned SMBs across South Florida.
- Ownership category
- akta.pro rank
BAC industry classification
Industry- Product category
- Community Development Lending
- NAICS
- Credit Intermediation and Related Activities (522)
- SIC
- Miscellaneous Business Credit Institution (6159), Federal & Federally-Sponsored Credit Agencies (6111)
- akta.pro primary industry
- SBA/Government-Backed & Development Finance Loans (FSAKAGAI)
Keywords
Where BAC is headquartered
LocationHeadquarters
- HQ city
- Miami
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
BAC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Loan Interest and Fees: BAC generates revenue through interest on loans and fees from its loan programs including Merchant Banking Fund (revolving credit lines), Risk Capital Fund, Guaranty Fund, and Equity Investments. Loan amounts range from $25,000 to $300,000.
- Government Grants and CDFI Funding: BAC receives funding from government sources including a $1,000,000 award from the U.S. Department of Treasury CDFI program in 2000, along with annual grants from organizations like the Wells Fargo Foundation.
- Real Estate Development Revenue: BAC manages commercial real estate including the MLK Transit Station Development Complex ($33.5 million), generating rental income and management fees from office space, warehouse units, and incubator spaces.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Merchant Banking Fund - Short-term revolving credit lines |
| Subscription | Multi-year contract | Risk Capital Fund - Intermediate term loans |
| Subscription | Multi-year contract | Guaranty Fund - Letter of credit support |
| Subscription | Multi-year contract | Equity Investments - Joint venture projects |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
BAC product offering
Product offeringCore offering
BAC Funding Corporation extends commercial credit to African-American owned businesses in South Florida through asset-based revolving credit lines and joint venture agreements, offering loans ranging from $25,000 to $300,000. As a certified Community Development Financial Institution (CDFI), it provides specialized lending products, equity investments, and real estate development support to fill capital gaps in underserved communities.
Product overview
BAC Funding Corporation operates as a community development financial institution offering a portfolio of four integrated loan and investment products targeting African-American owned businesses in South Florida. The core offerings consist of the Merchant Banking Fund (short-term revolving credit), Risk Capital Fund (intermediate-term business expansion financing), Guaranty Fund (credit enhancement letters of credit), and Equity Investments (long-term joint-venture capital). The company also provides supplementary business support services including technical assistance and training. BAC's real estate development arm manages three distinct properties: the MLK Transit Office Building & Garage Complex, a Residential Real Estate Program, and a five-acre Office Complex with incubator spaces. Capital deployment ranges from $25,000 to $300,000 for businesses established a minimum of three years.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Over 500 investments administered since 1982, with 40% in Enterprise Zones
- +5 more outcomes
Companies that use BAC
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles3 records
BAC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
BAC partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, major and minor.
- Greater Miami Chamber of Commerce (GMCC)coreBAC was formed as an outgrowth of the Business Revitalization Action Committee of GMCC. GMCC partners with BAC on matchmaker seminars and the Job Assistance Center, having helped place 37,000 persons in non-subsidized employment. GMCC is a strategic partner in BAC's core mission of economic development for African-American businesses.
- Miami-Dade Chamber of Commerce (MDCC)coreBAC was formed as an outgrowth of MDCC. The organizations partner on matchmaker seminars responsible for over $10 million in procurement contracts for African-American enterprises. MDCC is a core strategic partner in BAC's community development mission.
- State of Florida Governor's Revitalization Board of Miami-Dade CountycoreBAC was formed in collaboration with the State of Florida Governor's Revitalization Board of Miami-Dade County as part of post-1980 civil disturbance economic recovery efforts for Liberty City.
- Miami-Dade CollegecoreBAC partners with Miami-Dade College on the Job Assistance Center, which has helped place 37,000 persons in non-subsidized employment. Miami-Dade College provides educational and workforce development resources supporting BAC's economic development mission.
- Florida Black Business Investment BoardmajorBAC partners with Florida Black Business Investment Board to bring additional training seminars and jointly sponsored programs to the African-American business community in South Florida.
- Enterprise FloridamajorBAC partners with Enterprise Florida to bring additional training seminars and business development programs to underserved communities in South Florida.
- Miami Bayside FoundationmajorBAC partners with Miami Bayside Foundation to support economic development initiatives for African-American businesses in the Miami area.
- Black Business Investment FundmajorBAC collaborates with Black Business Investment Fund to provide capital and support services to African-American owned businesses in South Florida.
- Florida Regional Minority Business CouncilmajorBAC partners with Florida Regional Minority Business Council to bring training seminars and jointly sponsored programs to minority businesses in the region.
- Carrie P. Meek Center for BusinessmajorBAC partners with Carrie P. Meek Center for Business to provide training and development programs for African-American entrepreneurs in South Florida.
- Collective Banking GroupmajorBAC is a strategic partner with Greater Miami & Vicinity's Collective Banking Group, working collaboratively on banking and economic development initiatives for the community.
- American AirlinesminorBAC is an American Airlines North Terminal Program Partner, supporting economic development initiatives in connection with the North Terminal Program.
Scale indicators10 records
Recent moves6 records
Expansion highlights5 records
BAC competitors and assessment
Company assessmentDirect peers
- LiftFund: Texas-headquartered nonprofit CDFI providing small business loans (typically under $500K) to minority, immigrant, and low-income entrepreneurs. Highly comparable business model to BAC: nonprofit, community-led GTM, multiple loan products (revolving credit, term loans, SBA microloans), and mission-driven underwriting.
- Grameen America: A nonprofit microfinance organization providing small-dollar loans to women entrepreneurs in low-income communities across the U.S. Comparable mission and operating model to BAC, though focused on consumer/micro rather than SMB lending and on women rather than African-American owners.
- Accion Opportunity Fund: A leading CDFI providing small business loans and resources to underserved entrepreneurs across the U.S. Directly comparable to BAC: both are certified CDFIs offering micro-to-small business loans ($5K-$250K range) to minority and low-income borrowers who lack access to traditional bank financing.
- Coastal Enterprises Inc. (CEI): Maine-based CDFI providing loans, investments, and consulting to underserved small businesses, including minority and rural entrepreneurs. Comparable as a regional, multi-product CDFI with similar ticket sizes ($10K-$500K) and mission-driven underwriting.
- Community Reinvestment Fund (CRF): A national CDFI providing capital to small businesses and community development projects in underserved markets. Comparable as a certified CDFI with similar loan products, SBA/USDA lending, and a focus on minority and low-income SMB borrowers.
- DreamSpring: A CDFI providing small business capital (under $100K typically) to underserved entrepreneurs, including minority, women, and veteran business owners. Operates a similar community-based lending model with multiple loan products and technical assistance — directly comparable to BAC's product suite.
Broad incumbents
- NDC (National Development Council): A national nonprofit CDFI providing small business loans (often SBA 504 and microloans) and economic development financing. Comparable in CDFI certification and SMB focus but operates nationally with broader product set than BAC.
- LISC (Local Initiatives Support Corporation): A large national CDFI providing loans, equity, and technical assistance for community development, including small business support. Comparable in mission and CDFI status but operates at significantly greater scale across many geographies and program areas.
- Enterprise Community Partners: A major national CDFI focused on affordable housing and community development, with broader scope and scale than BAC. Comparable mission around community economic revitalization but operates primarily in real estate rather than direct SMB lending.
Regional players
- Pacific Community Ventures: A West Coast-based nonprofit CDFI providing loans and advising to small businesses in low-income communities. Comparable mission and CDFI structure, with similar loan size range, but serves California rather than South Florida.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
BAC social profiles
Digital presenceBAC compliance and trust
Trust signalCompliance1 record
BAC financial estimates
Financial estimateRevenue estimate
Valuation estimate
BAC leadership team
Management profileNumber of profiles
BAC subsidiaries and ownership
Company hierarchySubsidiaries2 records
BAC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BAC M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BAC
What does BAC do?
BAC Funding Corporation extends commercial credit to African-American owned businesses in South Florida through asset-based revolving credit lines and joint venture agreements, offering loans ranging from $25,000 to $300,000. As a certified Community Development Financial Institution (CDFI), it provides specialized lending products, equity investments, and real estate development support to fill capital gaps in underserved communities.
Is BAC a public or private company?
BAC is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was BAC founded?
BAC was founded in 1982. It employs 11 to 50 people.
Where is BAC based?
BAC is headquartered in Miami, United States, in the North America region.
How does BAC make money?
Three revenue lines are on record. Loan Interest and Fees are the primary driver. The others are government Grants and CDFI Funding and real Estate Development Revenue.
Who are BAC's main competitors?
Direct peers on record are LiftFund, Grameen America, Accion Opportunity Fund, Coastal Enterprises Inc. (CEI), Community Reinvestment Fund (CRF) and DreamSpring. Broad incumbents are NDC (National Development Council), LISC (Local Initiatives Support Corporation) and Enterprise Community Partners. Pacific Community Ventures is listed as a regional player.
Does BAC have an API?
No public API is recorded for BAC.
What industry is BAC in?
BAC's product category is Community Development Lending. Its primary akta.pro industry code is FSAKAGAI, SBA/Government-Backed & Development Finance Loans. Its NAICS code is 522 and its SIC code is 6159.