Ray Waters was appointed Managing Director of the Detroit Community Loan Fund in October 2001. In 2004, he assumed the title of President of Detroit Development Fund (formerly Shore Bank Enterprise Detroit). Prior to his involvement with DDF and the DCLF, he was Managing Partner of BBC Ventures. From 1990 to 1999, Ray serviced as President of Horizon BIDCO Investment Company, a mezzanine venture fund providing growth companies in southeastern Michigan. Ray Waters has over 20 years’ experience as CEO and owner of 3 profitable growth companies, 2 of which were startup ventures. He served for many years on the National Advertising and Franchise Committee of the Hertz Corporation and the National Distributor Board of the Adolph Coors Company. Most recently, he serves on the Small Business Advisory Board for the Federal Reserve of Chicago. Ray has been highly involved in local business communities and organizations.