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SSBCI funds can be used for any business purpose, including:
SSBCI can help even if your business
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To be eligible, businesses must be Florida-based and have 500 employees or less. Funding through Florida's SSBCI programs may be used to fund start-up costs, business procurement, franchise fees, equipment, inventory, and the purchase, construction, renovation, or tenant improvements of an eligible place of business.
The Collateral Support Program enables financing that might otherwise be unavailable due to a collateral shortfall. This credit enhancement uses public resources to encourage private lenders to lend money to businesses by providing a cash deposit as collateral for a business loan or credit facility.
Targeted investment strategy implemented on an appropriate scale that can attract capable investment managers to support Florida small businesses and create value. DEO will work with Enterprise Florida to secure partnerships with public entities and investment managers.
SSBCI funds are used alongside private funds to support a loan to a borrower. The SSBCI funds may be used as a companion loan, or the funds may purchase a portion of the loan made by the private lender.
The Loan Guarantee Program provides a private lender with a short-term, partial guarantee to support a loan or line-of-credit for eligible small businesses.
The Capital Access Program is a pooled loan insurance program where a private lender originates a loan, and the borrower and lender contribute a percentage of the loan per eligible small business, which is then matched by SSBCI funding.