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Filing year 2023

Business Expansion Funding Corp

Charlotte, North Carolina·EIN 56-1434029·3
Total revenue
$3.7M
Total assets
$6.9M
Total expenses
$3.2M
Reported officers
16
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, minority and under-served businesses.

Executive compensation, broken down

Form 990 · Schedule J · 5 reported individuals · Filing year 2023

Executive Dir.
officer (unspecified)
$300k
$328k
Base
$178k
Bonus
$100k
Other
Benefits
$22k
Busines Dev. Off.
unclassified
$214k
$234k
Base
$123k
Bonus
$71k
Other
Benefits
$21k
Busines Dev. Off.
unclassified
$198k
$216k
Base
$116k
Bonus
$54k
Other
Benefits
$28k
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.

$263k
2022
$300k
2023
In today's dollarsEst.
Up 9% in real terms$300k to $328k

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.

Highest reported compensation in each year. Volunteer board members and partial-year payouts are filtered out.
Financial trend

Revenue and expenses over time

Business Expansion Funding Corp reported revenue and expenses across 2 filing years.

RevenueExpenses
$3.8M
$2.6M
2022
$3.7M
$3.2M
2023
Total revenue and total expenses from IRS Form 990 filings.
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