Ray Gilley, CEO, BBIF Capital

Invest: spoke with Ray Gilley, CEO of BBIF Capital, about the organization’s expanding role in strengthening Florida’s small businesses and undercapitalized communities. “We see ourselves as kind of like a first responder for small businesses during periods of economic pressure or crisis,” Gilley said.

How would you define BBIF Capital’s role in strengthening small businesses and underbanked communities across Florida today?

We are focused on supporting undercapitalized businesses, not only with capital but also with technical assistance for small businesses. It is one thing to secure funding, but it is equally important to have the business literacy and operational support to use that capital wisely and grow sustainably.

Many of the entrepreneurs who come to us are in what I call the second stage of growth. They have built a customer base, demonstrated traction, and now want to expand. Sometimes they need growth capital, but other times they need coaching, strategic guidance, and targeted expertise. Our role is to connect them with the right support for their specific enterprise. A lot of this begins with trust and referrals. On a regular basis, people who know me and know what we do connect entrepreneurs to BBIF because they recognize the value of pairing resources with guidance.

One milestone I am particularly proud of is that we surpassed $59 million in assets, strengthening our ability to serve more businesses. We also recorded strong lending performance. To date, BBIF has deployed approximately $118 million through more than 1,200 loans over our history. In fiscal year 2025 alone, we deployed $14.8 million across 32 loans throughout Florida, and we also serve parts of Georgia.

In addition, we administer New Markets Tax Credits for qualifying community development and manufacturing projects. Over the past decade, we have received more than $323 million in allocations and deployed those funds into 34 projects. That has supported roughly 7,600 jobs and generated an estimated $925 million in economic impact. We are proud of that work because it supports community building and economic empowerment at the same time, and it helps move capital into projects designed to have lasting neighborhood-level impact.

How has the demand for capital access and technical assistance evolved over the past year, especially among small businesses and entrepreneurs?

Demand has intensified. In fiscal year 2025 alone, we facilitated more than 1,000 technical assistance training sessions, representing a 47% increase from the prior year. That is a meaningful jump, and it reflects both stronger awareness and the reality that entrepreneurs are navigating increasingly complex conditions.

Entrepreneurs are more informed today, and they are actively looking for solutions and support. They are able to find us, and our referral network, along with our partners, helps connect business owners to the right entry points. Just as important, many entrepreneurs are not only seeking capital. They are looking for financial education and structured guidance so they can remain resilient, and so they can make confident decisions as conditions change. Each business is a unique situation, so the support has to be practical and tailored to what that owner is navigating.

What challenges are these businesses facing most frequently in the current economic climate?

Access to lending has become more challenging. Finding growth capital and preparing to be bankable takes preparation, and readiness does not happen overnight. It takes organization, documentation, financial discipline, and a clear plan for how capital will translate into growth. That is part of why technical assistance matters.

Beyond capital, businesses must understand their markets and how to position and price their products. Competition shifts, customer needs evolve, and inputs into products and services can change quickly. Those inputs affect pricing, margins, and how an entrepreneur adjusts operations to stay competitive. It is a dynamic environment, but I am impressed by small businesses and how savvy they are at adapting and adjusting to change when they have the right information and support.

What trends or sectors are shaping community development and the finance landscape in Florida today?

We are seeing greater urgency around working capital, cash flow smoothing, equipment purchases, debt cleanup, refinancing, and contract financing. That demand is increasing because entrepreneurs are navigating higher borrowing costs, tighter credit standards, and uncertainty in the marketplace. For businesses that do business with government or other public-sector entities, procurement and policy changes can add another layer of complexity.

We see ourselves as kind of like a first responder for small businesses during periods of economic pressure or crisis. When traditional systems tighten, entrepreneurs still need solutions. We aim to provide realistic, supportive options so they can keep moving forward, even in a more selective lending environment.

More broadly, we are also seeing increased demand across the financial institution sector aimed at community development. Community lenders continue to play a critical role when traditional credit remains selective. Banks have Community Reinvestment Act obligations, but that does not always translate to the type of lending many entrepreneurs need. In practice, banks often refer clients to us when they are not able to bank them. That referral dynamic underscores how important partnerships are in building a functional support system for entrepreneurs across the state.

How is BBIF leveraging digital tools internally and in support of its clients?

We encourage entrepreneurs to understand technology, and to use and apply it as it relates to their business and situation. One way we do that is through workshops and training, including marketing and communications workshops that are free or low cost. If business owners had to pay for these services elsewhere, it could cost hundreds, if not thousands, of dollars. We bring the expertise together, provide individual coaching and counseling, and follow up as needed.

A key part of adoption is that people learn by example. In training, entrepreneurs can see the tools in action, learn from experts who are actively using them, and ask questions in real time. That is where learning becomes practical, not theoretical. It is also an evolving process for everyone involved. We are continually learning from peers and partners, and we keep fine-tuning how we use technology and how we help clients apply it.

Internally, technology helps us tell our story more effectively, improve marketing and outreach, and build efficient intake processes for loan applications and service inquiries. We want to maintain high-touch service even when systems are digital. Many business owners operate 24-7, so it matters that our information, availability, and intake capabilities are accessible at any time. If an entrepreneur wants to book an appointment, ask a question, or start exploring services, they need a clear path to do that when their schedule allows.

We also have a head of innovation at BBIF, which helps us understand borrower needs faster, improve engagement systems, strengthen data tracking, and sharpen how we measure outcomes. That internal capacity supports our clients because it helps us respond more effectively to what entrepreneurs are experiencing on the ground.

Looking ahead three to five years, where do you see BBIF’s top priorities?

We will continue focusing on readiness and building stronger businesses. We are not just approving or denying. Sometimes we cannot say yes immediately, but we can give feedback and coaching to help entrepreneurs become more ready in the future. That is how you create lasting outcomes, because you are strengthening the underlying business, not just processing a single moment in time.

Partnerships will remain central. We do not do this alone. We work with banks and financial institutions, chambers of commerce, community and economic development groups, and local governments. The goal is to connect entrepreneurs to resources, whether those resources come through BBIF directly or through the broader network. No one organization has every answer, but when the ecosystem works together, entrepreneurs are more likely to find the right solutions at the right time.

We also plan to expand our capital base so we can deploy more working and investable capital. Alongside lending and technical assistance, our New Markets Tax Credit work remains an important lever for community development projects, including those tied to food initiatives, workforce development, and health and wellness. Ultimately, we are building a long-term system that is flexible, strategic, and deeply connected to the undercapitalized businesses that truly need support.