The DEO’s Application for Lenders to Become a Black Business Loan Program Administrator Closes on June 1

The Florida Department of Economic Opportunity (DEO) is excited to share that the application cycle for administrators of the Black Business Loan Program (BBLP) for state fiscal year 2022-2023 is now open. DEO encourages all entities experienced in the development of black business enterprises to apply. The application cycle will remain open to certified loan administrators through June 1, 2022.

DEO certifies loan administrators annually, and program funds are distributed equally to certified BBLP administrators. Program funds are used to make loans, loan guarantees, and investments to black business enterprises that are unable to obtain capital through conventional lending institutions. Each certified BBLP administrator must satisfy the requirements of section 288.7102, Florida Statutes, and Chapter 73C-1, Florida Administrative Code, the terms of the contract between the BBLP Administrator and DEO, and any other applicable state or federal laws. An entity may not receive funds unless the entity meets annual certification requirements.

For information about BBLP and how loan administrators can apply, please click here or view the Florida Administrative Register Notice 25814142.

Written by
Lizeth George
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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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