Northwest Florida Black Business Investment Corporation

A renowned lending service that fosters our clients' financial growth

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WHY YOU SHOULD CHOOSE OUR ORGANIZATION

Northwest Florida BBIC
We are unlike most alternative funding sources.
We provide a "support system" that is unparalleled in the industry, while providing the same if not better financing opportunities as all the rest. In essence, it is not about the financing but about the business.

MICROLOAN PROGRAM

FOR MEMBERS OF BIG BEND MINORITY CHAMBER OF COMMERCE

Borrower must be a current member of the Big Bend Minority Chamber of Commerce
Minimum loan amount $5000
Maximum loan amount $20,000
Minimum credit score for secured loans 580
Minimum credit score for unsecured loans 620
Minimum Debt-service-coverage-ratio (DSCR) 1.10x
Maximum loan term 5 years secured, 4 years unsecured
Submission package required (BBIC loan application, business debt schedule, personal financial statement, last two years personal and business tax returns)
Business Plan required for businesses less than three years old. Subject business plans must be reviewed by the FAMU Small Business Development Center
Loan Pricing: 2% origination fee, rates ranging from 5% for secured loans within guidelines to 8% for unsecured loans within guidelines

Minimum Assistance Criteria

You must be an at least 51 percent United States black American citizen owned business, who has not been able to obtain capital funding assistance from a traditional lending institution.
You must be an existing business operating for at least 2 years and have filed 2 years of federal tax returns.
Having real estate or other collateral to secure your loan request will improve your changes of approval.
You must be located in the northwest Florida panhandle (Madison west to Escambia counties).

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We have utilized the services of the Northwest Florida Black Business Investment Corporation on a few occasions, when it came time to purchase property for our new location they were there when we needed them most.

Without a question of a doubt, Northwest Florida Black Business Investment Corp is one of the main reasons that my medical practice has grown to its level today. BBIC provided the needed support for my expansion by providing business loans, education and training.

We at Florida Developers Inc. of Tallahassee are very pleased with the relationship that has been forged throughout many yeasr with BBIC. As with most minority businesses, we have needed help at a time when traditional banks would not extend loans. BBIC, never turn its back on Florida Developers Inc. They have always responded, and in a timely manner. I would thoroughly recommend BBIC to do business with.

I call NWFLBBIC the "Pillow that World Class Academy of Beauty Careers has rested it's head. 100% dedicated to seeing our success! I thank God, for Keith Bowers and Sherwood Brown, who have always treated me with respect and dignity no matter how small we were. They truly made the difference in my life! Thank you for everything!

Thanks to NWFLBBIC I am taking my company (Kenny T's, Inc.) to the next level. The NWFLBBIC provided me with the funding to secure my future and my propserity for generations to come. Thank you NWFLBBIC[.]

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The Northwest Florida Black Business Investment Corporation (BBIC) is a God-sent financial organization for minority businesses. As an entrepreneur, I have benefitted greatly from the financial services provided by BBIC. They have helped me to grow my pre-school to a thriving private school (K-8th grade). I am grateful for the financial support from BBIC and thank you Mr. Sherwood Brown for always being there for me.

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