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, minority and under-served businesses.
Executive compensation, broken down
Form 990 · Part VII & Schedule J · 5 reported individuals · Filing year 2023
- Base
- $178k
- Bonus
- $100k
- Other
- —
- Benefits
- $22k
- Base
- $123k
- Bonus
- $71k
- Other
- —
- Benefits
- $21k
- Base
- $116k
- Bonus
- $54k
- Other
- —
- Benefits
- $28k
| Position | Base | Bonus | Other | Benefits | Total |
|---|---|---|---|---|---|
Executive Dir. Officer (Unspecified) | $178k | $100k | — | $22k | $300k $328k |
Busines Dev. Off. Unclassified | $123k | $71k | — | $21k | $214k $234k |
Busines Dev. Off. Unclassified | $116k | $54k | — | $28k | $198k $216k |
Busines Dev. Off. Unclassified | — | — | — | — | $127k $139k |
Closing Manager Unclassified | — | — | — | — | $127k $138k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 11 unpaid individuals.
Up 14%
from 2022
From $263k in 2022 to $300k in 2023.
Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Revenue and expenses over time
Business Expansion Funding Corp reported revenue and expenses across 2 filing years.
Common questions about Business Expansion Funding Corp
What are Business Expansion Funding Corp's revenue and expenses?
In 2023, Business Expansion Funding Corp reported $3.7M in total revenue and $3.2M in total expenses on its IRS Form 990.
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