Organizations Filed Purposes:
BEFCOR is a nonprofit organization that promotes economic development by assisting small businesses. A US Small Business Administration certified development company (CDC), BEFCOR is authorized to market, underwrite, close and service CDC/504 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 or other sources.In doing so, BEFCOR enables small business to purchase owner-occupied commercial real estate and other fixed assets that promote business expansion and job creation.
SBA 504 Loans, Small Business Lending Fund and NC Rural Center Rapid Recovery Loans:BEFCOR received SBA approval for fifty-one 504 loans with a total loan amount of $46,828,000. BEFCOR approved two new loans from the SBLF, with a loan amount of $259,000. BEFCOR partnered with the NC Rural Center to underwrite and service loans Rapid Recovery loans in response to COVID-19. BEFCOR processed 144 loans totaling $4,675,400.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Elaine Fairman | Executive Dir. | 50 | $146,475 |
| Jean Moody | Sr. Loan Officer | 50 | $111,128 |
| Louis Rogers Iii | Busines Dev. Off. | 54 | $103,757 |
| Joanna Helms | Director | 0.5 | $0 |
| Tracie Sells | Director | 0.5 | $0 |
| Tom Davis | Director | 0.5 | $0 |
| Maggie Braun | Director | 0.5 | $0 |
| Brad Rivers | Director | 0.5 | $0 |
| Jim Mcdermott | Director | 0.5 | $0 |
| Tim Key | Secretary | 1 | $0 |
| Abbie Baynes | Board Chair | 2 | $0 |
| Brian Huber | Treasurer | 0.5 | $0 |
| Sheldon Hilaire | Director | 0.5 | $0 |
| Keva Walkton | Director | 0.5 | $0 |
| Joe Mynatt | Director | 0.5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202100979349300535_public.xml