The Black Business Investment Fund of Central Florida, Inc. (BBIF) was created out of the "Florida Small and Minority Business Act of 1985" in recognition of the fact that locally owned small and minority businesses provide stability and contribute to the overall welfare of Florida's economy. The BBIF is one of seven investment corporations in the state of Florida with the direct responsibility of underwriting loans to Black owned businesses. BBIF administers four (4) direct loan programs to assist Black, minority and underserved small businesses in Central Florida: Black Business Loan Fund, MicroLoan Fund, Contract Financing Loan Fund and Small Business Loan Fund.  In addition, BBIF houses a Financial Training Academy, comprised of a Financial Technical Assistance Program, Dollars and Sense Financial Literacy Program and Signature events that allow for business development and networking opportunities.

To date in FY 2014-2015, BBIF has provided technical assistance and counseling to 143 business owners and potential business owners, closed 18 new loans totaling more than $2 million, and helped businesses create or sustain more than 189 new jobs for residents.  Through its Financial Training Academy, BBIF has provided over 785 hours of business development and specialized financial assistance to business owners via one-on-one business assistance, lunch and learn sessions, business opportunity sessions, training workshops, orientations and owners’ round tables.

BBIF also serves on the advisory board for the Minority/Women Entrepreneur Business Assistance (MEBA) 

The City's contribution of $150,000 will assist the BBIF in achieving their goals as defined in Exhibit "A" of the attached agreement.