Black Cooperative Investment Fund Awards First Loan!

Press Release (ePRNews.com) - LOS ANGELES - Sep 19, 2017 - The Black Cooperative Investment Fund (BCIF) awarded its first microloan to  C.H.N.O. Box, LLC founded by Meggan Bishop-Oirech. The board of directors unanimously voted to award a $15,000 small business loan. BCIF believes that C.H.N.O. embodies the spirit of black economic empowerment and are poisitioned and poised for success. BCIF is California’s only community-based, non-bank controlled, microlending nonprofit organization that is specifically focused on economic empowerment for the Black community.

BCIF President/CEO Robert Lewis states, “Over the past couple of years, it has become crystal clear that to obtain opportunity, equality and fair treatment, we must generate and solidify our own economic base in ways that are intentional and far stronger than what we have created thus far. This, in part, is why the Black Cooperative Investment Fund (BCIF) was founded last year.”

This is a historic moment for BCIF. As a community, we need to show up, give our collective energy, and invest our resources to make a major statement that we’re serious about moving the needle forward for the Black community.

When founder Meggan Bishop-Oirech received jlnh the call notifying the company about the loan approval, she was elated and stated, “We are so excited. Oh my gost! Thank you so much!” Lewis stated, “this is only the beginning – more companies are in queue for funding in December – we believe that C.H.N.O. has set the bar for other applicants with their level for professionalism, business planning, and commitment to economic empowerment.”

To learn more about C.H.N.O., visit their website at www.chno.co

Based in Los Angeles, the Black Cooperative Investment Fund (BCIF) is a 501(c)(3) nonprofit, community-based fund that utilizes cooperative economics to build financial assets for Southern California’s African American community. Founded in 2016 and officially launched in 2017, BCIF pools dollars from individuals and corporations that are passionate about economic empowerment for the African American community and distributes those funds via microloans.  BCIF’s vision is to provide a dedicated, reliable and perpetual source of capital to create assets and build wealth for, and within, African American communities.

For more information, contact BCIF at: www.bcifund.org or (310) 904-6336.

Source : Black Cooperative Investment Fund

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