BrightBridge Capital, a Community Development Financial Institution, announced the release of its Impact Report 2024. BrightBridge has provided customized financing and technical advice to entrepreneurs, small businesses and start-ups for more than four decades.
The comprehensive report, now available on the company’s website, provides an overview of the company's performance, growth, and impact over the previous two years, particularly in their role as a provider of Small Business Administration loans.
The report highlights achievements, including a record-setting number of loans under management for the company. In addition, BrightBridge assisted in financing over $186 million through 115 loans, nearly $100 million of that amount financed through CDFI loans. The report also notes that over 3,500 jobs were created and retained through these businesses, and that 84 percent of the loans were funded to businesses in economically distressed communities.
Key Highlights from the 2022-2024 Annual Report Include:
Loan Growth: As of 2024, BrightBridge manages over $250 million in loans, an increase from over $175 million in 2022. This growth reflects both the rising demand for small business financing, as well as the company’s expanding outreach and lending capacity.
Impact on Underserved Communities: 84 percent of loan funding that BrightBridge provided went to businesses in economically distressed communities, and 23 percent of loan funding went to businesses in rural communities.
The value of projects financed exceeded $480 million.
“We get up thinking about the small businesses and communities we serve,” said BrightBridge’s Bill Pollard. “We’re extremely grateful for the banking partners that join us in the work we do and the difference we’re able to make.”