In recognition of National Small Business Week, Governor Ron DeSantis and the Florida Department of Economic Opportunity (DEO) highlight resources available to small businesses in Florida.
“Small businesses are the backbone of Florida’s economy and I remain committed to creating an environment where they can thrive,” said Governor DeSantis. “I am proud of how small businesses in Florida have pivoted, found innovative solutions and shown incredible resiliency this year. I will continue to support Florida’s small businesses.”
“There are 2.5 million small businesses in Florida that contribute to the success of the state’s economy and the communities they serve. I am proud to work with the team that provides opportunities to assist businesses and sustain their operations,” said Dane Eagle, Executive Director of the Florida Department of Economic Opportunity. “The Florida Department of Economic Opportunity stands ready to help Florida’s small businesses and entrepreneurs.”
The Florida Department of Economic Opportunity’s Office of Small and Minority Business Capital promotes economic prosperity for Florida’s small businesses through economic development programs to further diversify Florida’s economy and create future resiliency.
The following programs provide newly established or expanding small businesses with valuable resources such as access to capital, technical assistance and business management training for small business owners to foster vibrant and healthy communities:
- Rebuild Florida Business Loan Fund
The Rebuild Florida Business Loan Fund provides financing to assist businesses with resiliency efforts. The funds will address the current gap in available, affordable capital for businesses that can be used for inventory purchases, construction, working capital, equipment financing and more. For more information, visit www.FloridaJobs.org/RebuildFlorida/BusinessRecovery.
- Florida Small Business Loan Program
The Florida Small Business Loan Program is available to eligible businesses that demonstrate adequate historical and/or proposed cash flow coverage and other credit underwriting metrics. The loan must be used for a business purpose, which includes, but is not limited to: startup costs, working capital, business procurement, franchise fees, equipment, inventory, as well as the purchase, construction renovation or tenant improvements of an eligible place of business. To learn more, visit www.FloridaJobs.org/SmallBusiness.
- Black Business Loan Program
The Black Business Loan program (BBLP) offers alternative lending solutions to Florida-based black owned small businesses by providing short-term loans and technical assistance. Visit FAMU Federal Credit Union or the Miami Bayside Foundation for loan program information and technical assistance. For more information, visit www.FloridaJobs.org/SmallBusiness.
- Microfinance Guarantee Program
The Microfinance Guarantee Program is available to stimulate access to credit for entrepreneurs and small businesses in Florida by providing loans made to such entrepreneurs and small businesses. Funds appropriated to the program must be reinvested and maintained as a long-term and stable source of funding for the program. For more information, visit www.FloridaJobs.org/SmallBusiness.
Prospera is a partnership with the Department and assists Hispanic-owned entrepreneurs and small businesses establish and grow their businesses in Florida. Services provided to clients include: entrepreneurial grants, loan facilitation and technical and educational assistance. For more information, visit www.FloridaJobs.org/SmallBusiness.
- Urban League of Broward County
The Urban League of Broward County program is a partnership with the Department and strives to provide financial empowerment, technical assistance and education to minority and women owned entrepreneurs and small businesses throughout the state of Florida. Learn more at www.FloridaJobs.org/SmallBusiness.
- Florida Small Business Emergency Bridge Loan
The Small Business Emergency Bridge Loan provides cash flow to businesses economically impacted by state-declared disasters. This loan helps bridge the gap between the time the economic impact occurred and when a business secures other financial resources. For more information, visit www.FloridaJobs.org/EBL.
More information about National Small Business Week is available on the U.S. Small Business Administration website.
The Florida Department of Economic Opportunity combines the state’s economic, workforce and community development efforts, expediting economic development projects to fuel job creation in competitive communities and promote economic resiliency. For more information, including valuable resources for employers and job seekers, please visit www.FloridaJobs.org.