On February 18th, the Black Business Investment Corporation (BBIC) celebrated its 28th year of operation in Palm Beach, Florida. The BBIC is a 501c4 non-profit organization that provides business loans, equity capital and business services for Black business owners in St. Lucie, Martin, Indian River and Palm Beach County. In 1987 John Howard Sr., former Palm Beach Lakes Bank President, was appointed President of the BBIC. In response to the Small and Minority Business Act of 1985, the business community of Palm Beach County and John Howard Sr. set out to raise capital in an effort to combat the issues that Blacks encounter when seeking financial assistance for their businesses.
“Even in the 21st century, blacks are judged differently when applying for loans. Nobody admits it, but it happens, and the BBIC makes an effort to correct this problem” – John Howard Sr.
In addition to supporting the development of new Black businesses, the corporation develops existing black enterprises thereby increasing employment and managing “social stability within the black community”. Learn more about the BBIC by visiting their website or contact the organization at (561)- 845-8055