Black businesses across the U.S. are thriving post-pandemic, but many are still struggling to get access to capital. Here is how the Black Cooperative Investment Fund (BCIF) is helping.

The BCIF is a nonprofit organization providing direct access to capital for Black businesses in Los Angeles, Orange, Riverside and San Bernardino counties. Founded in 2016 and launched in 2017, the BCIF seeks to create social change for the Black community by building assets and wealth.

The BCIF is led by President and Board Chair Robert Lewis who has almost 25 years of professional experience working in philanthropy and the nonprofit, human, and social services sector. Robert has been responsible for grant-making for companies such as the L.A. Care Health Plan and the California Community Foundation (CCF).

The BCIF provides zero-interest microloans with a 25% forgivable option. The microloans are funded through pooled dollars from individuals and organizations who are passionate about economic empowerment for the Black community.

All repayments are placed back into the fund to sustain the pool of resources for the Black community. An annual fundraising goal of $500,000 will allow the fund to distribute 24 to 36 microloans annually, ranging between $5,000 and $20,000.

The long-term goal of the BCIF is to provide a dedicated, reliable, and perpetual source of capital to create assets and build wealth for, and within, the Black community, while also serving as a catalytic force for building a critical mass movement of change based on economic imperatives.