Frequently Asked Questions:

I understand that my firm must use a commercial bank in order to get assistance from the Business Consortium Fund Inc., in the form of a guarantee or participation. Does the BCF have a recommendation for a Bank that is more likely to give me the facility I need?
You are always better going to a bank that you already work with rather than beginning a fresh relationship. However, as an alternative this website has a list of Banks we have worked with and you may use this as an alternative to your own Bank.

My bank is not a BCF Certified Bank Lender. Can I still use my bank to work with the BCF to get the facility my firm requires?
Yes. Give us a contact at the Bank and we will send a Certified Bank Lender Kit to them, enabling your bank to participate in our program.

Does the BCF finance non-profit organizations? Does the BCF give grants?
The BCF was set up specifically to make commercial loans to business that are owned and operated by ethnic minorities. It is expected that these loans should be repaid from the business' earnings. The BCF does not therefore make grants or fund not-for profit organizations.

Doesn't the approval of a facility take twice as long since it has to go through both the bank process and the BCF process?
Once your bank makes its decision to finance your business, subject to a guarantee or participation from the BCF, and provides us with all the material used to make that decision, it takes the BCF no more than 3 days to reach a decision.

My firm requires a 7-year facility. Can the BCF assist?
The Business Consortium Fund does not provide facilities that exceed (4) four years. Clients of the BCF are also expected to have graduated from the program within 4 years. It is not likely that the BCF is the right entity to make such a facility available to your company. Triad Capital Corporation, our wholly owned subsidiary, can make longer term facilities. Click here to understand the procedures for a Triad loan/investment.