Frequently asked questions
The fine print,
made plain.
Answers to common questions about CDFIs, BVCG’s role, documentation, timelines, fees, and the limits of what any preparation service can promise.
What is a CDFI?
A Community Development Financial Institution is a mission-driven financial institution certified by the U.S. Department of the Treasury’s CDFI Fund. CDFIs can include banks, credit unions, loan funds, and venture capital funds that serve communities and borrowers not always well served by conventional finance.
What is BVCG’s role?
BVCG provides capital-readiness education, assessment, preparation, and navigation support. We do not make lending decisions, represent a specific lender, or guarantee access to capital.
What documents might I need?
Requirements vary by lender and product, but may include formation documents, ownership information, business bank statements, bookkeeping records, financial statements, tax filings, a business plan or use-of-funds narrative, debt schedule, and personal financial or credit information.
How long does the process take?
There is no universal timeline. Timing depends on the condition of the business, the completeness of documentation, the scope of preparation, and the applicable lender’s process. Any lender timeline is controlled by that lender.
Does BVCG guarantee funding?
No. Funding is never guaranteed. BVCG can help you prepare and understand possible pathways, but applicable lenders make their own decisions about eligibility, approval, terms, pricing, and timing.
Are there fees?
Any fee, scope, and payment terms should be confirmed in writing before work begins. Do not assume that a readiness review or lender application is free, and do not pay a third party solely because funding is described as certain.
Can I apply if my business is new?
You may submit interest. New businesses can have different documentation, cash-flow, and repayment questions, so the appropriate pathway depends on the full profile and the applicable lender’s criteria.
Is this financial, legal, or tax advice?
No. BVCG materials and conversations are for education and preparation. Consult qualified legal, tax, accounting, or financial professionals for advice specific to your situation.