Loan Guarantees

Under a loan guarantee BBIF works with one of its partnering investor financial institutions to help African American owned businesses obtain loans greater than $100,000.  BBIF will provide a guarantee up to 75% of the loan amount with a maximum guarantee of $100,000.

How Funds May Be Used
Funds may be used for short-term working capital needs such as: the purchase of inventory, supplies, or accounts receivable and contract financing or long-term capital financing such as: furniture, fixtures, machinery and/or equipment, and owner occupied commercial real estate.

Technical Assistance
On going Technical Assistance will be required for all Black Business Loan Fund borrowers.

Terms, Interest Rates, and Fees
Loan terms vary according to the type of the loan, short-term or loan-term, the planned use of funds, and the needs of the business borrower. The maximum term allowed for a Black Business Loan is five years.  Interest rates vary, depending on the prime rate. Generally, these rates will be between 5 and 15 percent.  Currently interest rates are starting at *5.25%.

Collateral
Collateral will be required for all loans and can be secured by all available business assets, contract assignment, and/or personal assets.  Personal guarantees will be required of all business owners with at least 20% ownership.

For More Information
Applicants interested in applying for a Black Business Loan should check out our website at www.bbif.com to download an application.  You can also contact our office at (407) 649-4780 to contact a loan officer or send an email to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .  All credit decisions are made internally. Upon receipt of your completed application, you will hear from us within 10 days. Your completed application will be processed in 45 business days with a decision.
*Please note that interest rates are subject to change.