A 1984 study by the Governor's Advisory Council on Minority Enterprise Development identified several impediments to black business development in Florida: limited access to capital, limited access to technical assistance, and limited access to business opportunities. In response, the Florida Legislature created the Florida Black Business Investment Board, Inc. (FBBIB) in 1985 to address the impediments identified in the study and to serve as a catalyst for the development of competitive black-owned businesses in the State of Florida. For over two decades, the FBBIB and it’s the black business investment corporations
(BBICs) – regional investment corporations strategically located throughout the state – have carried out a common mission by:

Providing loans and loan guarantees;


Providing technical assistance; and


Providing procurement assistance.

Through the combined efforts of FBBIB and BBICs, black entrepreneurs and business owners throughout the state of Florida have received over $47 million in public and private financing to start and grow their businesses. This has resulted in thousands of jobs being created and retained for Florida families. and assisted hundreds of black-owned businesses through loans, loan guarantees, joint ventures, and limited partnerships. State financing has been matched by local financial institutional investors that support the eight regional investment corporations strategically located throughout Florida.

Today, the FBBIB continues to serves Florida’s black entrepreneurs and business owners by working closely with public and private sector partners to ensure that funding is available for the Black Business Loan Program. The FBBIB also serves as an “Institute” for the development of Florida’s black businesses by advocating key positions on legislative, regulatory, financing and economic development proposals important to its stakeholders. Moreover, the FBBIB continues to serve as the State of Florida’s primary partner on black economic development. Through a strategic partnership with the Executive Office of the Governor’s Office of Tourism, Trade and Economic Development (OTTED), the FBBIB continues to play a positive role in shaping Florida’s economic future.