Accomplishments and Impact

Community Involvement

  • Over the last twelve (12) years BAC’s loan portfolio has averaged a gross return of 14.94%. BAC’s loan portfolio yielded a gross return of approximately 14.38% and 15.78% in 2007 and 2008, respectively.
  • In our twenty-seven (27) year history, BAC has disbursed nearly $50 million in loans or equity funds to enterprises located in South Florida.
  • BAC disbursed over $1.8 million in 2008, funding over fifty (50) businesses, fourteen (14) of which are owned or co-owned by women.
  • Over the past several years BAC has assisted its clientele base in giving rise to over $40 million in annual revenue. In 2005, BAC’s loan clients produced over $10 million in annual revenues.
  • BAC’s staff’s previous experience includes collectively managing loan portfolios in excess of $140 million.
  • Since 1982, BAC has administered over 500 investments of which forty percent (40%) were in Enterprise Zones.
  • Currently, BAC’s cumulative clientele base gives rise to over 400 jobs located in the South Florida community.
  • Created sustainable value and wealth in South Florida’s African-American community by developing and managing the $33.5 million MLK Transit Station Development Complex. The management, operation and restaurant expenses represent additional revenues streams for minority businesses of approximately $2 million per year over the next thirty (30) years.

Below are some benefits the MLK Development Center brings to the community:

  1. Accommodates 800 employees who contribute to the local economy.
  2. Miami-Dade County will not encumber its borrowing capacity for the new facility.
  3. Created more than 200 temporary construction jobs.
  4. 30% of the tax-exempt bond financing funds spent went to Black Businesses.
  5. Provides ten (10) permanent jobs, five (5) for area residents.
  6. 72% of predevelopment services went to Black Architects and Engineers.
  7. Has increased rider-ship on Metro-Rail.
  8. 45%of Construction and Developers Fee went to Black contractors and material suppliers.
  9. Renovations and repairs of the garage will save an estimated $500,000 currently being spent to maintain the facility.
  10. 60% of Building Management and Maintenance contracts has gone to Black businesses.