BBIF Survival Uncertain as Battle over Loans Heats Up

The Black Business Investment Fund of Central Florida (BBIF), a major organization that supports minority businesses, is being asked to return $1 million in taxpayer dollars, which the state says the non-profit over-charged to run one of its loan programs, the orlandosentinel.com reported.

Known as the “economic gardening” loan program, BBIF supporters contend, it has more than delivered on the program and it is the state that has bungled the loan’s administration.  Moreover, they say, repaying the $1 million to the state Department of Economic Opportunity all at once would lead to their closure, impacting negatively the Orlando area’s minority community, still struggling to recover from the Great Recession, the paper also reported.

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