1. Office of Economic, Trade and Tourism Development Black Business Investment Fund of Central Florida, Inc. (BBIF) Micro Loan Program Board of County Commissioners January 28, 2014

2. Micro Loan History The Minority/Women Business Enterprise Alliance, Inc. focused on developing resources for small businesses The Minority/Women Business Enterprise Alliance, Inc. focused on developing resources for small businesses The County provided funding to the Alliance since FY 1998 The County provided funding to the Alliance since FY 1998 The Alliance closed and filed bankruptcy in 2009 The Alliance closed and filed bankruptcy in 2009 If The Alliance was still operational, the funding would have been: If The Alliance was still operational, the funding would have been: FY 2008-09$80,599 FY 2008-09$80,599 FY 2009-10$72,539 (10% cut) FY 2009-10$72,539 (10% cut) FY 2010-11$67,461 (7% cut) FY 2010-11$67,461 (7% cut)

3. Micro Loan History FY 2010-11 During July 2010 Budget Worksessions, Commissioner Moore-Russell requested that the Alliance funding be allocated to BBIFDuring July 2010 Budget Worksessions, Commissioner Moore-Russell requested that the Alliance funding be allocated to BBIF August 2010 - BBIF provided the Board with information about the Micro Loan ProgramAugust 2010 - BBIF provided the Board with information about the Micro Loan Program –Board approved a one-time amount of $67,461 for FY 2010-11 July 2011 - BBIF provided the Board an update on the newly implemented Micro Loan ProgramJuly 2011 - BBIF provided the Board an update on the newly implemented Micro Loan Program

4. Micro Loan History FY 2011-12 BBIF requested additional funding for the Micro Loan Program during the July 2011 Budget WorksessionsBBIF requested additional funding for the Micro Loan Program during the July 2011 Budget Worksessions August 2011 - the Board approved the FY 2011-12 Infrastructure & Community Projects which included one-time BBIF Micro Loan funding of $50,000August 2011 - the Board approved the FY 2011-12 Infrastructure & Community Projects which included one-time BBIF Micro Loan funding of $50,000 FY 2012-13 BBIF requested additional funding for the Micro Loan Program during the July 2012 Budget WorksessionsBBIF requested additional funding for the Micro Loan Program during the July 2012 Budget Worksessions –Board approved a one-time amount of $75,000 for FY 2012-13

5. Micro Loan History Budget Process Funding for outside agencies is based on budget guidelines developed annuallyFunding for outside agencies is based on budget guidelines developed annually Due to its approval as a one-time expenditure in previous years, Micro Loan Program funding was not part of the normal budget process and requires separate considerationDue to its approval as a one-time expenditure in previous years, Micro Loan Program funding was not part of the normal budget process and requires separate consideration

6. BBIF Funding History Fiscal YearOperational Funding Micro Loan Funding 2008-09$162,155$0 2009-10$145,940$0 2010-11$135,724$67,461 2011-12$135,724$50,000 2012-13$135,724$75,000 2013-14 (Adopted)$135,724$0

7. Office of Economic, Trade and Tourism Development Black Business Investment Fund of Central Florida, Inc. (BBIF) Micro Loan Program Board of County Commissioners January 28, 2014