Florida Black Business Investment Board

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

"Punxsutawney Phil Predicts Quick End to Winter" - AOL News

"How does this benefit me," you ask? Well, on February 2, 2011, the ground hog (Punxsutawney Phil) cast a shadow, which signaled that SPRING IS COMING!

Now you may be wondering what spring has to do with the Economic Gardening Loan Program. Doesn't the thought of spring jog pictures gentler weather and flowers blooming? Generally speaking, spring makes us think of GROWTH. And I would be amiss if I didn't think of the GROWTH we can achieve as small business owners.
 
This leads me into my discussion of Florida's Economic Gardening Loans.  This loan program was created to stimulate investment by Florida’s small businesses.  

Loans are provided to qualified 'stage 2' businesses meeting the following criteria:

·  Revenues between $1 - $25 million, with

·  10 – 50 employees

You receive up to $250,000 to be used for the following:

·   Working capital purchases,

·   Employee training, or

·   Salaries for new Florida jobs

The Economic Gardening Loan is to be paid in 4 years, with a 2% interest rate.  Only interest is paid in year one.

Is the Economic Gardening Loan program an option for your business?  Contact me at info@marlynnconsulting.com to find out!

Need Money For Your Business?

Are you familiar with Economic Incentives?

Has your business participated in any tax incentives in the past?

For those of you who are unfamiliar with tax incentives, here is a simple explanation of what an economic development incentive is:

Economic incentives are simply tax breaks provided by the government to stimulate the local economy and encourage business growth.  Economic incentives are commonly available as tax refunds, tax credits, or grant reimbursements.  There are a number of Florida tax incentives, which include tax refunds like QTI (Qualified Tax Refund) and Brownfield Redevelopment; discretionary payment programs like Quick Action Closing Fund (QACF) and HIPI (High Impact Performance Incentives); tax credits like Enterprise Zone, Capital Investment and Commmunity Contribution Tax Credit (CCTCP); and training grants like Incumbent Worker Training (IWT) and Quick Response Training (QRT).

Other programs include, but are not limited to The Economic Gardening and Black Business Loan Programs.

Contact me by email info@marlynnconsulting.com if you wish to find out if you qualify for a tax break under economic incentives.