Areas Served: Statewide Florida
Created as part of the Small Business Jobs Act of 2010, the Small Business Credit Initiative (SSBCI) was designed to help states strengthen existing loan and equity programs and/or create new programs that support financing small businesses.
On August 16, 2011, the U.S. Treasury Department announced the approval of Florida’s SSBCI application for its $97,662,349 allocation.
Utilizing SSBCI funding, the State of Florida’s Division of Strategic Business Development (DSBD) will establish and manage a capital access program named FL-CAP.
FL-CAP will provide portfolio insurance for small business loans based on a separate loan loss reserve for each participating financial institution.
Additionally, DSBD will contract with Enterprise Florida to establish and manage the following two programs: – a Venture Capital Program permitting direct investment to emerging Florida companies with long-term growth potential.
– a Small Business Loan Program providing loan guarantees, loan participations, and direct loans in the areas of standard commercial banking and export finance.
Contact InformationEnterprise Florida
Address: 800 N. Magnolia Ave. Suite 1100
City: Orlando
State: Florida
Website:
http://www.eflorida.com/ContentSubpagefull.aspx?id=9144
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