FloridaCommerce Reaches $101 Million in Approved Loans and Investments to Florida Small Businesses Through the State Small Business Credit Initiative 2.0
FloridaCommerce announced $101 million in approved loans and investments to Florida small businesses through the State Small Business Credit Initiative 2.0 (SSBCI). SSBCI facilitates and expands access to capital for small businesses who would otherwise not be able to receive funding and provides businesses with additional resources to facilitate growth and economic development.
SSBCI funds have been approved for businesses in manufacturing, hospitality, construction, health care, retail, transportation, and many other industries. Program funds can be used for:
Start-up costs and working capital
Purchasing another business
The purchase, construction, renovation, or tenant improvements of an eligible place of business
To be eligible, businesses must be Florida-based and have less than 750 or 500 employees depending on the loan type. If you are interested in participating in the program, contact a participating lender. Learn more.