FL H1371

Deletes language limiting which black business enterprises can receive funds through the Black Business Loan Program

Requires the Department of Economic Opportunity to establish separate application and annual certification processes for program participation

Mandates loan applications include maximum possible scoring for each section and require applicants to document past performance in similar business development programs

Distinguishes eligibility requirements between new and existing recipients, with new recipients required to demonstrate board expertise, business plan, technical skills, partnerships, and 20 percent matching funds from public or private sources

Effective date is July 1, 2021