The Florida Black Business Investment Board (FBBIB) provides access to capital for black entrepreneurs and business owners. The FBBIB also provides technical and procurement assistance. Black entrepreneurs and business owners get access to financing (direct loans and loan guarantees) through FBBIB’s network of partners called black business investment corporations (BBICs).
Loan terms and pricing are established based on individual circumstances and credit risks of the business owner. Loans may be provided for general business costs – equipment or inventory purchases, business start up or franchise purchases, real estate purchases, working, etc. An eligible business owner must be black AND a Florida resident. If a corporation, LLC or partnership applies for the loan, the business entity must be a Florida entity with at least 51% ownership and management by a black Florida resident. Since these loans are partly funded with public dollars, they must serve a public purpose, such as job creation or retention.
Are you trying to get access to additional capital for your business, call me at (850) 727-0293