If you are looking for loans to open a business, the most common are general small business loans that offer financial assistance for businesses from certain special requirements.
For example, SBA’s microcredit program offers small, short-term loans for small businesses or real estate and equipment loans, which is a loan program that provides financing for major fixed assets such as equipment and real estate, but there are more options below…
Miami Business Loans
If you want to know more about the loans to open a business, Miami County or provide financial and technical assistance to new businesses through various programs.
Therefore, if you are looking for funds to start a business or want to expand an existing one, you may be eligible for financial assistance from various programs that are funded through the Office of Economic and Community Development. These programs are:
Microenterprise Assistance and Peer Loan Assistance Program: This is a program designed to help construction entrepreneurs with a strong credit history to enhance entrepreneurial skills, share business ideas and provide peer-to-peer establishment support.
This program provides you with a direct loan of up to $25,000 and requires corporate profitability and creditworthiness.
If you are a self-employed entrepreneur without other financial resources, to start your business, you can obtain a business loan of between $500 and $2,000 and $3,000 to $25,000 through the partners for self employment program.
The peer lending program creates a peer support forum by establishing business loan groups that have demonstrated credit, training and support, so as a microentrepreneur you become self-sufficient in generating economic growth.
Revolving Loan Fund: This is a loan program for working capital, machinery, equipment and renovation of commercial sites. The maximum loan amount may not exceed 20% of the total project cost or $5 million.
Community Development Revolving Loan Fund: This is a loan program for businesses that need to start or expand a business. You can receive up to $500,000 for fixed assets and working capital.
Commercial revitalization: Through this program you can receive a $100,000 loan as a merchant who wishes to rehabilitate the exterior of your commercial building.
Loans to Open Business in Florida
You probably need to know about loans to open a business in Florida, because if you plan to open a business in this state, you require a significant amount of capital, since it is a state with high and fast growth.
That’s why most of the money to support the start of a business in Florida comes from investors, banks, lenders and entrepreneurs.
Florida High Tech Broker: On the advice of the Florida High Tech Broker you can access a grant to start your business.
Incentive for Job Growth: The Palm Beach County, Florida economic development office can offer you a grant based on your proposed new business or expansion of an existing one, but keep in mind that grants are limited to companies located or relocated in Palm Beach County.
If you qualify, you must disclose the number of jobs you will create, the average annual salary for each type of job, and then you will qualify for a grant of between $500 to $2,000 for each job created and the maximum grant amount will be $500,000 with a minimum award of $25,000.
Enterprise Florida: In Enterprise Florida you can receive a grant, as they are awarded for the start-up of a business, as long as you comply with the standards established by Enterprise Florida.
Under this concept, Enterprise Florida awarded $540,000 in grants to regional, state, and county economic development organizations in 2008, because only if you meet those standards will you be eligible.
SBTT and SBTT Grants: The Small Business Innnovation Research or SBIR and Business Technology Transfer or SBTT programs help you receive a federal grant if your project meets two criteria.
If it is a research project, you must meet the federal research and development goals and have a high potential for commercial use.
The federal agencies that award the research and development grants are the U. S. Department of Agriculture, the U. S. Department of Defense, the U. S. Department of Commerce, the U. S. Department of Energy, the National Science Foundation, and the U. S. Department of Education.
Microenterprise assistance and peer-to-peer lending: This program will be useful as an entrepreneur who wants to achieve a solid credit history through a loan. Depending on your particular case you can receive from 5,000 to 25,000 dollars depending on the profitability of your business and the soundness of the credit.
You can get advice on this type of loan program at Partners for Self Employment, Economic Development Coalitions and the Department of Housing and Community Development.
SBA: Small Business Administration offers you loans for long-term or short-term working capital, for the purchase of equipment and inventory and to expand or renew your business and even for the creation of a new business or for the refinancing of existing debt but under certain conditions.
For example, with the CDC/504 loan, you can access long-term financing to acquire fixed assets to expand or modernize your for-profit business, with a net tangible income of less than $15 million and an average net income of $5 million or less including federal income taxes.
SBA Microcredits: With SBA microcredits, you can access an average of $13,000 for the purchase of inventory, working capital, furniture, supplies, equipment, machinery and accessories, but you cannot use the money to buy real estate or pay off existing debts.