Jacksonville Small Emerging Business (JSEB)

ACCESS TO CAPITAL PROGRAM

Background

The Access to Capital (AC) program was established to help Jacksonville Small Emerging Business (JSEB) firms hit the ground running. AC loans are short-term and project specific. The loan pool offers working capital funds to a JSEB vendor and in turn allows them to successfully perform construction, contractual service/supply and professional jobs with the City of Jacksonville or one of its participating independent agencies. Underwriting and administration of the Access to Capital loan is performed through Essential Capital Finance, Inc. (ECFI).

Eligibility

• Hold current certification as JSEB or similar designation from participating agency
• Be in receipt of award, invoice or purchase order from a participating city agency as a prime or sub contractor/consultant

 Participating Agencies

• City of Jacksonville (COJ)
• Jacksonville Aviation Authority (JAA)
• Jacksonville Port Authority (JPA)
• Jacksonville Transportation Authority (JTA)
• Jacksonville Electric Authority (JEA)

Eligible Uses (not for equipment purchases)

• Payroll, material, and overhead costs related to the contract or subcontract

Collateral

• Contract or subcontract is assigned as secured collateral for repayment of the Access to Capital loan
• Borrower required to execute a Joint Payment Agreement

Interest Rate

• 10% (7 – 10 business day processing time)
• Personal credit history, management capacity and character assessment, business history, amount of loan and use of proceeds, repayment ability

For more information please call (904) 255-8840