Black Business Loan Program (Florida) is sponsored by FloridaCommerce (formerly Florida Department of Economic Opportunity). This opportunity supports mission-aligned projects and measurable outcomes.

Black Business Loan Program – Florida Department of Health, Health Care Innovation Black Business Loan Program Federal/State Opportunity Number Not Specified Funding Opportunity Purpose 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.

Type of Funding Opportunity State Florida Resident Specific Opportunity Yes Funding Mechanism Loan/Loan Guarantee Organization Florida Commerce Focus Area All Innovation Funding Size Up to $250,000 Funding Post Date Not Specified Funding Closing Date Rolling Basis - Indefinitely Funding Timelines Not Specified Funding Opportunity Cycle Recurring Eligible Recipients Entrepreneurs Non-For-Profit Funding Only No Small Business Funding Only Yes Early Stage Funding Only No Minority Ownership Required Black-Led US Ownership Required Yes Federal Cost Share Requirements No Website Link https://famufcu.

com/pages/black-business-loan-program. php Additional Eligibility Criteria Notes 51% black-owned Domiciled in the state of Florida, active registration with Sunbiz United States Citizen or Lawful Permanent Residence For profit business, sole proprietorship. No non-profits.

Must demonstrate that loans will aid in the generation of jobs Must use funds for working capital, inventory, equipment Collateral will be required in most cases. Applicant(s) will be the guarantor(s) Personal credit history will be used as part of the underwriting process to evaluate all loans.

Additional Information Application Process New (& Start-up) Business Documents Business Plan Proof of Income/ Tax Returns (two most recent years personal tax returns) Business Financial Projections (3 -5 years) Personal Bank Statement (six months most recent statement) Two-year work history Detailed Use of Funds Proof of collateral, if applicable Existing Business Documents Business Plan Business Tax Returns (two most recent years) Business/Personal Financial Statements Income Statement & Balance Sheet (2 years) Debt Schedule Profit/Loss Statement (2 years) Detailed Use of Funds Proof of Liability Insurance Proof of collateral, if applicable Important Reporting Requirements (If Specified) Not Specified Miscellaneous Notes If the Black Business Loan Program is appropriated funds in a fiscal year by the Florida Legislature, Florida Commerce will distribute an equal amount of the appropriation to the Loan Administrators that have been certified for that fiscal year.