Black Business Loan Program

Introduction
(www.FloridaJobs.org/BBLP)

The Black Business Loan Program provides loans, loan guarantees, or investments through Loan Administrators to black business enterprises that cannot otherwise obtain capital through conventional lending institutions but who could otherwise compete successfully in the private sector.

If the Black Business Loan Program is appropriated funds in a fiscal year by the Florida Legislature, the Florida Department of Economic Opportunity (DEO) will distribute an equal amount of the appropriation to the Loan Administrators that have been certified for that fiscal year.

To become certified to receive funding, interested Loan Administrators are required to submit an "Application for Certification" or an "Application for Recertification" pursuant to the requirements of the Black Business Loan Program (Sections 288.7102 through 288.714, Florida Statutes). All applicants must submit a "Conflict Statement" (DEO Form 7102.3) with their organization's application during the application period of May 1, 2019 through June 1, 2019.

Notice of Application Period: Black Business Loan Program Application Period, Fiscal Year 2019-2020, May 1, 2019

Purpose

To certify that a recipient, pursuant to section 288.7102, Florida Statutes, is authorized to use funds appropriated for the Black Business Loan Program for direct investments in, and loans and loan guarantees to, black business enterprises. The program provides alternative lending opportunities and technical assistance to black business enterprises that cannot obtain capital through conventional lending institutions, but could otherwise compete successfully in the private sector.

Award Date

On or before July 31, 2019 award will be divided equally among certified applicants subject to appropriations by the Florida Legislature.