The Black Business Investment Fund (BBIF) is one of eight certified Black
Business ... by a 1985 Florida statute to provide loans to black owned businesses
.
Opportunity Finance Network Member Profile
Black Business Investment Fund www.bbif.org
Financial and Social Impact Black Business Loan Fund provides direct loans and loan guarantees up to $100,000 to established, Black-owned businesses
n
Economic Gardening Loan Fund provided loans of $50,000 to $250,000 to small businesses under a state pilot program established in 2009 to stimulate investment in Florida’s economy
n
Business loans made: 305, totaling more than $35 million
The Black Business Investment Fund (BBIF) is one of eight certified Black Business Investment Corporations created by a 1985 Florida statute to provide loans to black owned businesses. BBIF began operations in 1988 and has established itself as one of the premier providers of loans and technical assistance to minority and small businesses throughout Florida. Its business loans have helped to create or retain more than 10,000 jobs and generate more than $400 million in economic impact. As a result of entering into the statewide lending market, BBIF has received tremendous demand from several small, qualified businesses throughout the state needing access to capital.
n
n
Jobs created or retained: 10,727
n
Loan loss rate: Less than 3%
Contact Capital Plaza Two 301 East Pine Street, Suite 175 Orlando, FL 32801 P: 407.649.4780 F: 407.649.8688 E:
[email protected]
NEXT AWARDEE
A Member of the
Success Story: R L Burns Inc. Orlando, FL R L Burns Inc., a full-service general contractor, had been in business for years, but when the company began to struggle, it could not get a loan from a traditional bank. BBIF worked with owner Bob Burns to provide capital, technical assistance, and management training to help him grow his company, which now employs 35 and is one of Orlando’s few large black-owned commercial contractors.
