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.

Florida Commerce

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.

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

Not Specified

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.