FL S1600

Requires the Department of Economic Opportunity to establish separate and distinct application and annual certification processes for entities seeking to participate in the Black Business Loan Program

Mandates that the department consider an applicant's need, ability, and past performance providing similar business development services when assessing applications

Requires loan applications to indicate maximum possible scores for each section, document past performance under similar programs, and disclose any prior work providing loans or investments to black business enterprises through public agencies

Expands eligibility requirements so both new and existing recipients must demonstrate board experience in black business development, viable partnerships with funding sources and economic development agencies, and ability to provide a 20% private match

Clarifies that required cash match funds may include funds provided by a public agency