In 2002, there were 3,339
business start-ups in Seminole County
which is a staggering number by any
measure. The Small Business Administration
reported for the nine months ending
June 30, 2003, 96 loans were approved
in Seminole County with a total value
over 16 million. There are a variety
of resources for small business to
plug into to plan their future. Here
are just a few.
Seminole County has partnered
with the Seminole
County Port Authority and the Orlando
Sanford International Airport to establish
small business incubator space for
new start-up companies. The partnership
is complimented by the Seminole Community
College Small Business Development
Center located at the Port. Over the
six year history of the SBDC,
over 2000 business clients have been
assisted and 18.3 million in capital
investment secured.
Small
Business Administration Loans (PDF) [579KB]
Florida First Capital Finance Corporation
(FFCFC) has been established to assist companies in the
packaging of SBA 504, SBA 7A, Recycling Loans and Energy
Loans. The Metro Orlando EDC facilitates meetings with
FFCFC and the company. The SBA 504 loan is for the acquisition,
construction of owner-occupied commercial real estate or
for the purchase of equipment. The benefits include fixed-rate
financing, lower down payment, long-term maturities, reduced
monthly payments, and conservation of capital. Loan size
can vary from $250,000 to $10,000,000.
The Florida Black
Business Investment Board Franchise
Finance and Development Program
The Florida Black Business Investment
Board Franchise Finance and Development Program (FFDP) makes
loans / investments in franchise businesses that are at least
51% owned, controlled and managed on a day to day basis, by
an ethnic minority that exercises executive control of the
franchise business. The FFDP can make loans / investments anywhere
in Florida, but the target areas are urban and rural communities.
The FFDP will provide debt and equity financing up to $500,000
for a term up to 10 years (if real estate, term can be up to
15 years). The interest rate charged will be fixed and will
not be greater than 12%. The FFDP will subordinate its collateral
position when necessary. Main Office: Tallahassee (850) 487-4850
Minority/Women
Business Enterprise Alliance, Inc.
135 E. Colonial Drive, 2nd Floor
Orlando, FL 32801
Executive Director: Shirley A. Walker
Micro loan Contact: Rosina Seip
E-mail: alliance@allianceflorida.com
Phone: 407-428-5860 Fax: 407-428-5869
Service Area: Orange, Osceola, Lake, Seminole, Polk, Hillsborough, Sumter, Brevard, Volusia, and Marion counties
Web Site: www.allianceflorida.com
Front Porch
Microcredit Loan Program
As part of
Florida’s Front Porch Initiative,
a Microcredit Loan Program was established
to increase access to capital that
will seed money to stimulate minority
small business entrepreneurship.
Through this fund, small amounts
(up to $15,000) will be loaned to
people who might not otherwise qualify
for conventional lending. This money
will be used for start-ups of cottage
industries and micro-enterprises.
The program consists of both a technical
training component and a loan component.
Borrowers will be matched with a
business advisor who will provide
guidance and education about business
start-ups. More information can be
obtained by contacting: Tallahassee
(850) 878-5125.
Small Business
Innovation Research Program (SBIR)
SBIR is a highly competitive program that encourages
small business to explore their technological potential and provides the incentive
to profit
from its
commercialization. By including qualified small businesses in the nation's
R&D arena, high-tech innovation is stimulated and the United States gains
entrepreneurial spirit as it meets its specific research and development needs.
For more information, visit
their website.
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Small Business Resources