||The National Minority Supplier Development Council (NMSDC) provides a direct link between Corporate America and minority-owned businesses to facilitate increased procurement and business opportunities for minority firms of all sizes. A key component of that link is the Business Consortium Fund (BCF) which facilitates financing to NMSDC certified firms that require capital to fulfill contracts with NMSDC corporate members and/ or corporate members of a NMSDC affiliated Regional Council.
Many Procurement and Diversity Managers for companies with minority supplier development programs have successfully utilized and worked closely with the BCF to help suppliers obtain financing to fulfill contracts. While these efforts may vary, the objective is the same - to assist in the growth and financial stability of the minority business supplier to make it an even more valued provider of goods and services.
Procurement and Diversity Managers benefit from utilizing the BCF as follows:
- Access to a competitive source of financing for MBE suppliers who are experiencing difficulty in obtaining funding from conventional banking sources on reasonable terms.
- Access to affordable professional consulting services to refer MBE suppliers to business and financial advisors.
- Assist MBE firms in obtaining capital to grow and become better and larger suppliers.
- Support their company's supplier diversity and minority business development programs.
- Support the minority business development missions of the NMSDC, NMSDC affiliated Regional Councils, and the BCF.
||If you’re a Procurement or Diversity Manager and wish to learn more about the BCF and how you can help your minority-owned suppliers obtain financing, contact:
Ruben Rodriguez, Senior Vice President and Chief Lending Officer
Business Consortium Fund, Inc.
39 West 37th Street, 7th Floor
New York, NY 10018