Public Charity

Business Expansion Funding Corp

Business Expansion Funding Corp, of Charlotte, NC, is a Public Charity tracked in Imperigo's IRS 990 database. The 2025 filing shows $4.0M in revenue, $3.7M in expenses, $7.8M in total assets. 2 publicly reported grants to this organization, totaling roughly $550K, appear in IRS filings.

EIN: 561434029 Charlotte, NC Latest filing: 2025
Total Revenue$4.0M
Total Expenses$3.7M
Total Assets$7.8M
Grant Records2
Funding Total$550K
Filing Years2021–2025

Mission

BEFCOR is a nonprofit organization that promotes economic development by assistingsmall businesses. A US Small Business Administration certified development company(CDC) and Department of Treasury CDFI, BEFCOR is authorized to market, underwrite, close and service CDC/504 and CDFI loans and other programs that are consistent with the economic development purposes set forth in BEFCORs Articles of Incorporation, in North Carolina, and other areas as permitted by SBA, Department of Treasury or other sources.BEFCOR enables small business to purchase owner-occupied commercial realestate and other fixed assets that promote business expansion and job creation. CDFI programs permit more extensive uses of loans in an effort to assist rural, micro and small businesses.

Where $100 goes at Business Expansion Funding Corp

How Business Expansion Funding Corp divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.

$85 Programs the work itself
$15 Management running the organization
$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $85 for programs

$85
SBA 504 Loans and Community Development Financal Institution (CDFI) Loans
All program spending · Reported in the filing: 504 loans; 13 loans
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Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Officers & Directors

Treasurer Brian Huber
Closing Manager Cynthia Kiker
Executive Dir. Elaine Fairman
Director Fernando Ycaza
Busines Dev. Off. Greg Simmons
Portfolio Manager Heather L Newgreen

Officer compensation and complete director data available with membership.

Top Grant Purposes

Training & Professional Development
$550,000 2 grants

Financial Trends

Year Revenue Expenses Assets
2025 $4.0M $3.7M $7.8M
2024 $3.7M $3.2M $6.9M
2023 $3.8M $2.6M $6.7M
2022 $2.7M $2.3M $4.5M
2021 $2.3M $1.9M $4.0M

Between 2021 and 2025, reported annual revenue grew from $2.3M to $4.0M (+73%), with total assets most recently reported at $7.8M.

Interactive year-over-year charts and full filing details available with membership.

See the full picture for Business Expansion Funding Corp

Complete financials, all 2 grant records, officer compensation, year-over-year trend charts, a geographic grant map, and data exports — across 880,000+ organizations.

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