Mission. The goal of the Palm Beach County Black Business Investment Corporation (BBIC) is to expand the participation of Black business enterprises in all segments of Palm Beach County's economy by creating a perpetual flow of capital for their growth, and aggressively promoting an atmosphere conducive to their development.
Organization. The BBIC is a not-for-profit organization formed by the financial and business community in accordance with the Small and Minority Business Act of 1985. The BBIC's main objectives are to ensure that Black businesses have the opportunity to obtain financing and other resources to compete in the market place, and to foster increased employment and social stability within the Black community.
Services. The services to qualified businesses owned by Black citizens include business loan guarantees, bonding, equity capital, and assistance to Blacks who cannot obtain financing through other conventional sources. In cooperation with other organizations, the BBIC also provides training and educational programs for Black businesses such as the preparation of business plans, marketing strategies, and management and accounting systems.
Qualifying Businesses. The BBIC will invest only in businesses owned and operated by Black persons in good standing with the State of Florida. Ownership shall mean 51% or more of any equity interests to be owned by Blacks. Ownership must be verified.
Availability of Financing. Businesses applying for loan guarantees, bonding and/or equity investments will be closely scrutinized and analyzed to assure that financing cannot be obtained through other sources. Any questionable application will be discussed with financial institutions and/or a loan committee to ascertain whether the credit should be handled by the BBIC.
John Howard, President
2001 Broadway, Suite 250, Riviera Beach, FL 33404
561-845-8055; Fax 561-863-0897