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.

Notice of Application Period for the Black Business Loan Program Loan Administrators Black Business Loan Program Administrator Application Period, Fiscal Year 2022-2023.

Purpose: To certify Loan Program Administrators pursuant to section 288.7102, Florida Statutes. Funds appropriated for the Black Business Loan Program (BBLP) by Department of Economic Opportunity (DEO) may be used for direct investments in, and loans and loan guarantees to, black business enterprises. The BBLP 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.

Application Submission Timeframe: May 1, 2022, through June 1, 2022.

Eligibility: To receive funds under this program, a Black Business Loan Program Administrator Applicant must:

  1. Be a corporation registered in the state of Florida.
  2. Agree to maintain BBLP Recipient’s books and records relating to funds received by DEO according to generally accepted accounting principles and in accordance with the requirements of section 215.97(7) Florida Statutes, and to make those books and records available to DEO for inspection upon reasonable notice.
  3. For existing Loan Program Administrator(s):
    1. Annually submit to DEO a financial audit performed by an independent certified public
    2. The most recent fiscal year audit should be submitted, and it should not reveal any material weaknesses or instances of material noncompliance.
  4. For new Loan Program Administrator applicants:
    1. Demonstrate that the new applicants’ board of directors includes citizens of the state who are experienced in the development of black business enterprises.
    2. Demonstrate that the new applicant has a business plan that allows it to operate in a manner consistent with this section and the rules of DEO.
    3. Demonstrate that the new applicant has the technical skills to analyze and evaluate applications by black business enterprises for loans, loan guarantees, or investments.
    4. Demonstrate that the new applicant has established viable partnerships with public and private funding sources, economic development agencies, workforce development, and job referral networks.
    5. Demonstrate that the new applicant can provide a private match equal to 20 percent of the amount of funds provided by DEO.

    Requirements: Each eligible Loan Program Administrator Recipient must satisfy the requirements of section 288.7102, Florida Statutes, the terms of the contract between the recipient and DEO, and any other applicable state or federal laws. An entity may not receive funds unless the entity meets annual certification requirements. If you are certified as a Loan Program Administrator, you may be subject to Executive Order Number 20-44.

    Award Range: Subject to appropriations by the Florida Legislature. Award will be divided equally among certified Loan Program Administrator(s).

    Award Date:
    On or before July 31, 2022

    Reporting: Pursuant to section 288.714, Florida Statutes, within fifteen (15) calendar days after the end of the quarter following the execution of the agreement, the recipient shall provide quarterly reports of program activities. Reports must account for all funds received by recipient under the Program in FY 2022-2023 and in all prior years since FY 2006-2007.

    Payment Terms: This will be a cost reimbursement agreement. Recipient must agree to enroll in electronic funds transfer (EFT) offered by the state’s Chief Financial Officer within thirty (30) days of the date the last party has signed the agreement. In accordance with the funding requirements of section 215.971, Florida Statutes, to be eligible for reimbursement, the cost must be in compliance with laws, rules, and regulations applicable to expenditures of state funds, which include but are not limited to, the reference guide for state expenditures (reference guide for state expenditures).

Application for Certification of Loan Program Administrators 

How to Submit Loan Program Administrator Applications

DEO prefers electronic submissions, however, applications may also be submitted using the contact information below by June 1, 2022.

Please submit applications via email to:
Christa Harris, Program Manager
Florida Department of Economic Opportunity
107 East Madison Street, MSC 80
Tallahassee, FL 32399-4120 | (850) 717-8991

Black Business Loan Program Administrators - Contact Information

Small Black Business Enterprises interested in receiving capital through this program may contact a Loan Administrator to find out how to apply:

  • Miami Bayside Foundation
  • Florida A&M University Federal Credit Union
    • 1610 S. Monroe Street
    • Tallahassee, Florida 32301
    • Phone: (850) 300-7281
    • Fax: (850) 222-5401

Additional Resources


  • Christa Harris

    (850) 717-8991
  • Tina Grow

    (850) 717-8533
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