BAC

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.

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

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

• Community development lending
• Asset-based lending
• Small business financing
• Minority business loans
• Economic development finance

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core 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

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core, major and minor.

• Greater Miami Chamber of Commerce (GMCC)coreStrategic or Co-development Partner · 1 January 1982BAC 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)coreStrategic or Co-development Partner · 1 January 1982BAC 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 CountycoreStrategic or Co-development Partner · 1 January 1982BAC 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 CollegecoreStrategic or Co-development PartnerBAC 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 BoardmajorStrategic or Co-development PartnerBAC 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 FloridamajorStrategic or Co-development PartnerBAC partners with Enterprise Florida to bring additional training seminars and business development programs to underserved communities in South Florida.
• Miami Bayside FoundationmajorStrategic or Co-development PartnerBAC partners with Miami Bayside Foundation to support economic development initiatives for African-American businesses in the Miami area.
• Black Business Investment FundmajorStrategic or Co-development PartnerBAC collaborates with Black Business Investment Fund to provide capital and support services to African-American owned businesses in South Florida.
• Florida Regional Minority Business CouncilmajorStrategic or Co-development PartnerBAC 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 BusinessmajorStrategic or Co-development PartnerBAC partners with Carrie P. Meek Center for Business to provide training and development programs for African-American entrepreneurs in South Florida.
• Collective Banking GroupmajorStrategic or Co-development PartnerBAC is a strategic partner with Greater Miami & Vicinity's Collective Banking Group, working collaboratively on banking and economic development initiatives for the community.
• American AirlinesminorStrategic or Co-development PartnerBAC 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

Direct 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

• LinkedInlinkedin.com/company/bac-funding-corp

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BAC