How Funds May Be Used
The BBIF’s Microloan fund uniquely provides two types of financing options, short-term and long-term. Microloans may be used for short-term working capital financing such as: the purchase of inventory, supplies, or accounts receivable and contract financing.  Microloans can also be used for long-term capital financing such as: the purchase of furniture, fixtures, machinery and/or equipment. Proceeds cannot be used to pay existing debts or to purchase real estate.

Technical Assistance
Those businesses established less than 2 years, and applying for a Microloan will be required to fulfill SBDC training before a loan application is considered.  On going Technical Assistance will be required for all Microloan borrowers.

Terms, Interest Rates, and Fees
Loan terms vary according to the size of the loan, the planned use of funds, and the financial condition of the small business borrower. The maximum term allowed for a microloan is six years. Interest rates vary, depending on the U.S. Treasury rate. Generally, these rates will be between 8 and 13 percent, with an average interest rate of *10.125%.

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
Small businesses interested in applying for a Micro 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.