Minority-Owned Business Assistance

Black Business Loan Program

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 Department of Economic Opportunity 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 as Eligible Recipient of Funds” (Form DEO 7102.1) pursuant to the requirements of the Black Business Investment Act (sections 288.7102 through 288.714, Florida Statutes).

During the application evaluation process, DEO will utilize the following forms:

• Application Evaluation Form for New Recipients (Form DEO 7102.2)
• Summary Recommendation Form (Form DEO 7102.3)
• Certification and Allocation Decision (Form DEO 7102.4)

• State of Florida Department of Management Services: Office of Supplier Diversity
• Start up a Florida Business
• Minority Business Development Agency US Department of Commerce
• The Small Business Administration: Minority-Owned Businesses
• The National Minority Business Council
• Hispanic Business Initiative Fund