FBBSC Applies for BBLP Reauthorization

The Florida Black Business Support Corporation (FBBSC), dba Access Florida Finance Corporation, has applied for renewal of its Certified Loan Administrator status with the Department of Economic Opportunity. This will allow us to continue to offer the Black Business Loan Program during the 2017-18 program year. A determination is expected in July.

“We are proud and humbled to continue to serve the state and black-owned businesses through the BBLP,” said President Pam Tedesco. “We currently manage a loan portfolio of nearly 85 loan clients under the BBLP with combined loans in excess of $3.2 million. Those businesses are having a real impact in their communities through job creating and retention,” she added.

FBBSC has been a certified loan administrator under the Black Business Loan Program since the program’s inception nearly 30 years ago.

Small Business and Its Impact on Florida” Provides Index on Current and Future Data

Florida SBDC Network Headquarters (Pensacola, Fla.) – The Florida SBDC Network, the state’s principal provider of business assistance and thought leader for small business, is pleased to announce the release of its second annual State of Small Business Report: Small Business and Its Impact on Florida. A collaborative effort with the University of West Florida’s Center for Research and Economic Opportunity, the report provides an overview of the size, scope, and well-being of Florida’s small businesses.

Florida is home to 2.3 million small businesses, of which employ 3.1 million or 43.2 percent of the state’s private-sector workforce. Florida’s small businesses create three out of every four jobs and have been a major contributor to the 1.2 million private sector jobs created since December 2010.

“Small businesses are critical to our economy,” said Michael Myhre, CEO and Network State Director for the Florida SBDC. “Florida consistently ranks as one of the best states for business, however small businesses continue to face a host of challenges, including cybersecurity and access to capital. Our hope is that this report will serve as a primary index on the state of Florida’s small businesses for future policy and decision-making in their support.”

The State of Small Business report includes an economic forecast by Dr. Rick Harper, Associate Vice President for the UWF Center for Research and Economic Opportunity, as well as data on small business demographics, overview of small business challenges, outlook on small business lending, and more. The report combines data from the U.S. Small Business Administration’s (SBA) Small Business Profile reports, U.S. Bureau of Labor Statistics, U.S. Census Bureau, and other data sources.

State designated as “Florida’s principal provider of business assistance,” the Florida SBDC Network provides tools, resources, and expertise to help small businesses grow and succeed.

Federal Assistance Available to Businesses Impacted by Hurricane Matthew

Florida SBDC Network Headquarters (Pensacola, Fla.) – Following President Obama’s major disaster declaration, Florida businesses in adversely affected and contiguous counties that have been impacted by Hurricane Matthew may now apply for low-interest loans through the U.S. Small Business Administration (SBA).

Through the declaration, businesses and nonprofits in Flagler, Putnam, St. Johns, and Volusia counties are eligible for Business Physical Disaster Loans and Economic Injury Disaster Loans, not to exceed a combined maximum of $2 million. Small businesses and most private nonprofit organizations in Alachua, Bradford, Brevard, Clay, Duval, Lake, Marion, Orange, and Seminole counties are eligible to apply for SBA Economic Injury Disaster Loans.

Business Physical Disaster Loans are intended to help repair or replace disaster-damaged property. Businesses and nonprofit organizations may apply for up to $2 million to repair or replace property, including real estate, equipment, inventory, machinery, and other business assets.

Businesses in qualifying adjacent counties may apply for up to $2 million for working capital through the SBA Economic Injury Disaster Loan program. The Economic Injury Disaster Loan program provides working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations meet financial obligations and operating expenses through the disaster recovery period.

For questions regarding the SBA’s disaster loans, and how the Florida SBDC Network can help, please contact (850) 898-3489.