Business Financing Programs
This web page is for informational purposes only. Please contact individual organizations listed for detailed information and other eligibility requirements.
Enterprise Florida Programs:
Florida Pooled Activity Bonds- These bonds are designed to help Florida's small to medium-sized manufacturers, select non-profits and certain other projects determined to support the state's economic development policies. Pooled Activity Bonds combine several bond issues ranging in value from $800,000 to $2,000,000 or more into one composite bond. This saves borrowers bond issuance costs on these tax-exempt, below market rate loans. Eligible businesses must create 100 new jobs in Florida and, if an expansion, increase employment by at least 10 percent; pay at least an average wage of 115 percent of the area average; and be in a targeted industry; or create a substantial economic impact. Enterprise Bonds are issued by the Florida Development Finance Corporation (FDFC), a financing authority created by the State of Florida. For more information contact Louis Laubscher at Enterprise Florida, Capital Development, at (407) 316-4692.
Florida Private Activity Bonds- These bonds are also issued by the Florida Development Finance Corporation and are funded by the Manufacturing Facility Bond Pool and the Florida First Business Bond Pool. To qualify for the Manufacturing Facility Bond, businesses must be a new or expanding manufacturing establishment in need of low-cost debt financing for land acquisition, new facility construction and new equipment purchases. Eligible businesses for the Florida First Business Bond Pool must create 100 new jobs in Florida and, if an expansion, increase employment by at least 10 percent; pay at least an average wage of 115 percent of the area average; and be in a targeted industry; or create a substantial economic impact. For more information contact Louis Laubscher at Enterprise Florida, Capital Development, at (407) 316-4692.
Essential Capital (Formerly JEDCO) - Encourages economic growth by making SBA loans to allow business owners to buy, build, remodel or purchase machinery and equipment with a minimum investment.
http://www.essentialcapital.net/
Federal Grants – This site allows organizations to electronically find and apply for competitive grant opportunities from all federal grant-making agencies. http://www.grants.gov/
Florida First Capital Finance Corporation (FFCFC) - A statewide, non-profit certified development company that promotes economic development and job creation by working with the SBA and private-sector lenders to provide available and affordable financing to small businesses. FFCFC lends under the SBA 504 Loan Program, the state of Florida Recycling Loan Program and other small business assistance programs. http://www.ffcfc.com/
Florida Venture Forum - Florida's oldest, largest and most prestigious statewide support group for venture capitalists and entrepreneurs. As an entrepreneurial networking group, the Florida Venture Forum educates entrepreneurs and assists them in identifying sources of venture capital. Throughout the year, the Florida Venture Forum provides programs on a statewide basis. http://www.flvencap.org/
Industrial Revenue Bonds (IRBs) - An IRB is a financing tool, similar to a loan, used to help companies build or buy a facility or buy land and/or equipment. The JEDC is the designated conduit issuer of IRBs in Jacksonville, FL. IRBs are offered as a way to encourage relocations and expansions of companies that provide jobs and expand economic opportunities. Designated IRB issuers, such as the JEDC, issue the bonds but do not make the loan. The investor buying the bond makes the loan. Companies applying for IRBs must find their own bond purchaser.
For more information about the IRB Program in Jacksonville, contact Jorina Jolly, JEDC Compliance Coordinator, at (904) 630-5914 or jorinaj@coj.net.
U.S. Department of Energy Loan Guarantee Program - Federal loan guarantees for commercial technology renewable energy generation projects under the Financial Institution Partnership Program. Click here to download the program overview (PDF 611K).
U.S. Small Business Administration (SBA) Loans - Provides new and established business owners with financial management, technical and procurement assistance. The SBA is a federal agency established to aid, counsel and assist and protect the interest of small business and strengthen the overall economy of the nation. Listed below are two of the most popular programs. For complete information visit the Jacksonville SBA web site or use the links below.
504 Certified Development Company (CDC) Loan Program* - This is a long-term financing tool for community development projects. Typically, a 504 project includes a loan secured with a senior lien from a private-sector lender covering up to 50 percent of the project cost, a loan secured with a junior lien from the CDC (backed by a 100 percent SBA-guaranteed debenture) covering up to 40 percent of the cost, and a contribution of at least 10 percent equity from the small business being helped. http://www.sba.gov/financing/frcdc504.html
7(a) Loan Guaranty Program* - The most basic and most used type loan of SBA's business loan programs. All 7(a) loans are provided by lenders who are called participants because they participate with SBA in the 7(a) program. The SBA guarantees a portion of the loan, thereby reducing the risk to the lender. Under this program, the SBA is not issuing the loan, the lender is and businesses should apply with their local lender not the SBA. For more information visit: http://www.sba.gov/financing/fr7aloan.html
*The SBA has increased maximum loan amounts in several of its programs, following the approval of the Small Business Jobs Act. Limits for the 7(a) guaranteed loans and 504 loans have increased from $2 million to $5 million and to $5.5 million for manufacturers and certain energy-related projects. For more information, visit www.sba.gov/news.
117 West Duval Street, Suite 275, Jacksonville, FL 32202
(904) 630-1858