The State of Florida's Loan Mobilization Program

The State of Florida’s Loan Mobilization Program was created to assist certified minority and women-owned business enterprises in obtaining funding when starting a state funded project. The program seeks to eliminate barriers to minority- and women-owned business enterprises providing goods and services to the State of Florida when seeking financial assistance. The program aims to increases the ability of minority and women-owned business enterprises to compete for state contracts and execute the work on a project.

The State of Florida’s Loan Mobilization Program authorizes state agencies to disburse 5% to 10% of the state contract award to participating lending institutions to assist certified minority business enterprises in obtaining working capital and lines of credit.

The goal of the program is to assist minority business enterprises by facilitating working capital loans to minority- and women-owned business enterprises that are vendors on state agency contracts.