Lending updates, financial classes, and our new 30 for 30 campaign debut!
We Are BCL:
Austin Urban Technology Movement
30 for 30: Featuring Austin Urban Technology Movement
As we celebrating 30 years of Building Strong Communities in Texas, we're showcasing our customers, staff, and supporters who have made our work possible and who make up the faces of BCL's work.
We're kicking off our new series with a feature on AUTM, the Austin Urban Technology Movement, a nonprofit working to bridges the gap between the Black, Brown, and Latinx communities and the technology industry through job placement, career development, and networking opportunities. AUTM worked with BCL of Texas for business coaching and as a fiscal sponsor for the organization's nonprofit status.
Michael Ward, Jr., AUTM President said, "Working with BCL allowed me to realize that in order for us to have the economic prosperity that we want, we have to do things differently. The impact is not just helping individuals and families, but we want to help generations - we want to have monumental impact on a whole other scale that we haven't seen yet."
Thank you to AUTM and all of our partners and funders who make BCL who we are today. Stay tuned as we continue to debut more of our 30 for 30 video series.
BCL of Texas Lends to Small, Minority-Owned, and Rural Businesses: 2020 Lending Report
As BCL wraps up our 2020 Fiscal Year ending June 30, we acknowledge that our BCL Promise remains even as times and challenges change.
In the last 12 months, BCL has honored its promise to work with underserved markets and provide financial opportunities across the state of Texas. This year, our Small Business Lending Program has reached our most vulnerable areas, including:
55% of our loans were to businesses in Rural Texas towns
52% of our borrowers are small minority-owned business owners
82% of our business owners are low-to-moderate income
As we move forward into our 2021 Fiscal Year, we continue to focus on The BCL Promise. Our Corporate Strategies Committee will present our 2025 Business Plan, with a continued focus on increasing small business lending.
$800,000 SBA Loan Supports Childcare Center Expansion in Opportunity Zone
Using an SBA 504 loan, entrepreneur Martha Flores has opened her second location for New Beginnings Childcare in Elgin, Texas, an underserved area in a designated Opportunity Zone. Martha opened her business 23 years ago with a mission to help children succeed in life. Her staff teach social, emotional, and cognitive skills so that children develop confidence and can thrive when they reach elementary school. “We can bring so much to the community,” Martha said. “Head Start data showed that a childcare center was greatly needed in the area.”
Thank you to our partners at the Small Business Administration and First National Bank of Eagle Lake for working with BCL of Texas to make this project a reality.
Virtual Mortgage, Budget and HomeOwnership Classes are Here!
BCL of Texas is partnering with BBVA to offer a variety of free workshops to help you with your everyday finances and long-term financial goals.