Do you have a small business? This is your chance! $142 million available to boost small business growth in Florida,
Do you want to promote your small business? Florida has $142 million available to achieve this
Florida Department of Economic Opportunity (DEO) Announces: $142 Million Available to Promote small business in florida,
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this friday, the dio announced the availability of $142 million in new capital for small and startup businesses through Florida State Small Business Credit Initiative (SSBCI).
SSBCI manual work Enterprises Florida Inc. and created five assistance programs for small businesses that might otherwise not have access to the capital needed to grow their businesses. This includes very small businesses and sole proprietors.
The initiative is part of the state’s efforts to prioritize workforce development, create a business-friendly environment and encourage aggressive economic growth.
How will you know whether you are eligible or not?
To be eligible, companies must be based in Florida and has 750 or fewer employees.
fund of SSBCI Schedule Florida can be used for:
- Finance start-up costs.
- business acquisition.
- Franchise fee, equipment, inventory.
- The purchase, construction, renovation, or tenant improvement of an eligible place of business.
DEO urges small businesses located in sun phase To sign up to receive updates Funding opportunities through SSBCI,
“DEO is proud to support the Governor’s mission by enabling local lenders to put money in the hands of deserving small business owners in underserved communities and stimulate their local economies.”
Told meredith ivyInterim Secretary to the DEO.
May interest you: Up to $10,000 Available to Home Buyers in Florida, Are You Eligible?
What Programs Are Available?
The following are the available programs:
- Collateral Assistance Program – Allows funding that would otherwise be unavailable due to a lack of collateral. It uses public resources to encourage private lenders to lend money to businesses by providing cash deposits as collateral for a business loan or line of credit.
- Venture Capital Program – A targeted investment strategy implemented at an appropriate scale that can attract investment managers capable of supporting and creating value to Florida small businesses. DEO will work with Enterprise Florida To secure partnerships with public institutions and investment managers.
- Loan Participation Program – SSBCI funds are used in conjunction with private funds to pay back a loan to a borrower. SSBCI Fund They can be used as a supplemental loan, or the fund can buy a portion of a loan made by a private lender.
- Loan Guarantee Program – Provides a private lender with a short-term partial guarantee to back an eligible small business loan or line of credit.
- Capital Access Program – A shared loan insurance program in which a private lender originates the loan, and the borrower and lender contribute a percentage of the eligible small business loan, which is then matched with SSBCI funding.
Financing is available to companies of all sizes and stages of development.
If you would like to receive updates on upcoming SSBCI roundtables and events, register on this website,
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