Public/Private Partner goes private, provides financing assistance for Florida's minority businesses.TALLAHASSEE, Fla. -- Often, the only difference between success and failure for a minority business owner is the lack of access to capital. Access Florida Finance Corporation (AFFC AFFC A Feast for Crows (book by George RR Martin) AFFC Allied Force Fan Club (Star Wars) AFFC Aircraft Functional & Fit Check AFFC A Future for Children (Brussels, Belgium) for short) hopes to change that. The name and logo may be new, but AFFC has actually been helping minority businesses access financing for nearly 20 years. In addition to financing, AFFC also assists minority-owned businesses in becoming strong contributors to their local communities and Florida's economy through technical assistance. Also known as the Florida Black Business Support Corporation ("FBBSC"), AFFC was part of the Florida Black Business Investment Board ("FBBIB FBBIB Florida Black Business Investment Board, Inc. "). Recently, the FBBIB board voted to transfer authority of the FBBSC to an independent, non-governmental board, enabling FBBSC to fulfill ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. its mission on a greater scale and to meet the eligibility requirements of the Federal CDFI CDFI Community Development Financial Institutions program. This move transforms FBBIB and AFFC into two operating entities with separate and distinct governing structures. AFFC will continue the relationships with some of Florida's top financial institutions that have been part of FBBSC's success for almost two decades through promotion of its Preferred Lender Finance Program (AFFC's capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. program). AFFC President Mark Scovera says "This was a monumental mon·u·men·tal adj. 1. Of, resembling, or serving as a monument. 2. Impressively large, sturdy, and enduring. 3. step forward in the progress of the program. We want AFFC to be known as the place you can get a better deal." Scovera notes the new name and logo "better reflect what we do." AFFC has also launched a new web site designed to provide more resources for minority businesses. FBBIB Board Chairman Mortlake Nembhard says, "In spinning off the FBBSC to conduct the business of making available entrepreneurial capital for blacks and other minorities, the FBBIB will now be able to focus its attention solely upon affecting public policy that will enhance black entrepreneurs in Florida to more fully participate in the economic prosperity of the State." New FBBSC Board Chairman Marc Villain VILLAIN., An epithet used to cast contempt and contumely on the person to whom it is applied. 2. To call a man a villain in a letter written to a third person, will entitle him to an action without proof of special damages. 1 Bos. & Pull. 331. says, "With minority businesses contributing an increasing share of the growth of Florida's economy, AFFC will continue to be an important financing resource for these businesses." For more info, contact Mark Scovera at 850-878-0775 or visit www.AccessFloridaFinance.com. |
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