Overview
What is Business Loan Fund Of The Palm Beaches Inc?
Business Loan Fund of the Palm Beaches Inc is a nonprofit organization based in West Palm Beach, Florida. Their primary mission is to offer technical assistance to small businesses and entrepreneurs who might struggle to secure conventional financing in Palm Beach County, Florida. During the fiscal year, they provided aid to 540 clients, delivering 3,540 units of service through Zoom meetings, group presentations, and one-on-one consultations by phone. In addition, the organization helped secure over $2 million in grants and loans during the pandemic, enabling small businesses to create five jobs and obtain four loans. They offer financial training sessions remotely, providing essential support to the local business community.
Official website here: www.ceoventures.org
Is Business Loan Fund Of The Palm Beaches Inc legitimate?
Business Loan Fund Of The Palm Beaches Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Business Loan Fund Of The Palm Beaches Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ceoventures.org
What is the mission statement of Business Loan Fund Of The Palm Beaches Inc?
The mission of Business Loan Fund Of The Palm Beaches Inc is centered around providing technical assistance and support to small businesses and entrepreneurs who may encounter difficulties in securing conventional financing. The organization does not offer direct lending or packaging services, but instead, aids its clients in preparing the necessary documents for their businesses. Their primary activity is to offer technical assistance, training, and various forms of support to small businesses primarily based in Florida. During the fiscal year, they were able to assist 540 clients, providing 3,540 units of service, and helping secure over $2,000,000 in grants and loans, particularly during the pandemic. Furthermore, the organization's efforts resulted in the creation of five new jobs and the procurement of four loans for small businesses.
Official website here: www.ceoventures.org
Who is the CEO of Business Loan Fund Of The Palm Beaches Inc?
Lia T Gaines is the Executive Director of Business Loan Fund Of The Palm Beaches Inc.
Official website here: www.ceoventures.org
What is the revenue of Business Loan Fund Of The Palm Beaches Inc?
Business Loan Fund Of The Palm Beaches Inc's revenue in 2021 was $130,950.
Official website here: www.ceoventures.org
Who are the executives of Business Loan Fund Of The Palm Beaches Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $36,300
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ceoventures.org
Where can I find the form 990 for Business Loan Fund Of The Palm Beaches Inc?
Business Loan Fund Of The Palm Beaches Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.ceoventures.org
Learn more at the official website: www.ceoventures.org
Mission Statement of Business Loan Fund Of The Palm Beaches Inc
The Business Loan Fund of the Palm Beaches Inc is dedicated to providing technical assistance and support to small businesses and entrepreneurs who may find it challenging to secure conventional financing. Their mission primarily focuses on aiding businesses located mainly in Palm Beach County, Florida. The organization does not offer direct lending or packaging services but instead provides necessary documents and guidance to help their clients secure financing. Through technical assistance, training, and various other support, the Business Loan Fund of the Palm Beaches Inc aims to empower small businesses and entrepreneurs, thereby contributing to the overall economic growth of the community.
During the fiscal year, the organization was able to provide technical assistance to 540 clients, contributing to 3,540 units of service through Zoom meetings, group presentations, and one-on-one technical assistance by phone. In addition, the Business Loan Fund of the Palm Beaches Inc was instrumental in securing more than $2,000,000 in grants and loans during the pandemic for these businesses. As a result, small businesses were able to create five new jobs and obtain four loans, demonstrating the organization's success in assisting in financial growth. Furthermore, the Business Loan Fund of the Palm Beaches Inc conducted six financial training sessions remotely, continuing to support the development of these businesses and entrepreneurs.
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Impact
October, 2024
The Business Loan Fund of the Palm Beaches Inc. significantly impacts small businesses and entrepreneurs in Palm Beach County, Florida, by providing essential technical assistance tailored to those who may struggle to access conventional financing. By offering support in securing the necessary documentation for their business endeavors, the Fund helps to bridge the gap between existing financial resources and the needs of local entrepreneurs.
During the last fiscal year, the Fund facilitated substantial growth by assisting 540 clients, delivering over 3,540 units of service through virtual meetings, workshops, and personalized phone consultations. This outreach not only empowered businesses with the knowledge and tools needed to navigate financial challenges, but it also resulted in securing more than $2 million in grants and loans during the pandemic.
Moreover, the Fund's initiatives have led to concrete outcomes, including the creation of five new jobs and the successful acquisition of four loans by local businesses. The organization has also committed to enhancing financial literacy by conducting six remote financial training sessions, equipping entrepreneurs with vital skills to sustain and grow their enterprises. Overall, the Business Loan Fund of the Palm Beaches Inc. plays a crucial role in fostering economic development and community improvement within the region.
This information is meant to be a general summary of Business Loan Fund Of The Palm Beaches Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Program Service Revenue: $11,950
- Gross Receipts: $130,950
Assets and Liabilities:
- Total Assets: $74,883
- Total Liabilities: $299,356
- Net Assets: -$224,473
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TECHNICAL ASSISTANCE
Revenue
$10,250
INTEREST INCOME
Revenue
$50
OTHER INCOME
Revenue
$1,650
Organization Details
Founding Year
1996
Phone
(561) 478-2337Principal Officer
Lia T Gaines
Main Address
2200NORTH FLORIDA MANGO ROAD STE401, WEST PALM BEACH, FL, 33409
Website
www.ceoventures.orgNTEE Category
Code: S30 - Community improvement
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