Business Financial Resources

​​​​The Office of Economic and Small Business Development (OESBD) provides technical assistance to businesses in Broward County that seek assistance with funding to establish or expand operations. Resources used to accomplish this objective include the following:

​Broward Municipal Services​ District (BMSD) Revolving Loan Fund (RLF)

This new small business lending program will provide flexible, low-cost capital for existing businesses, as well as new start-up businesses in the BMSD. 
The RLF provides BMSD businesses and commercial property owners with working capital and commercial real estate loans, along with small business training and other support services. The National Development Council (NDC) is partnering with OESBD, and the Urban League of Broward County to assist existing BMSD businesses, property owners, and entrepreneurs that are interested in starting new businesses or relocating to the BMSD.

NDC will administer the RLF and offer three types of small business loans to for-profit businesses currently located in or moving into the BMSD:
  • MICRO-LOANS to small businesses established for 6 months or more with 1-100 employees (loans ranging from $3,000-$10,000)
  • START-UP LOANS to new small businesses with 1-100 employees (loans ranging from $10,000-$50,000)
  • CAPITAL ACCESS LOANS to businesses established for a minimum of 18 months with 1-100 employees (loans ranging from $50,000-$150,000)
Funds can be used to buy machinery and equipment, to finance tenant and real estate improvements, as well as provide working capital. The loan fund can be accessed by any business in the BMSD. For more information, call 833-381-1942, send NDC an​ email​ or visit the w​ebsite​​.

BMSD Small Business Zoning with Aerial - VIEW

Microbusiness Lo​ans

Typically for small loan amounts, microbusiness loans can provide the much needed start-up capital to launch the next big idea. OESBD can help entrepreneurs identify and contact microlenders and get the new business off the ground. Over $4.5 million ​in microloans have been disbursed to 28 companies through our partner, South Florida Regional Planning Council, over the last eight years.

SBA Lo​ans

The U.S. Small Business Administration (SBA) offers several loan programs that provide financial aid to small businesses. A few of the most popular programs are Basic 7(a) Business Loan, Micro-loans and the Certified Development Companies (CDC)/504 Program. Micro-loan lenders and CDCs work with the SBA to provide financing to small businesses.

The Micro-loan Program provides very small loans to start-up, newly established or growing small business concerns. Under this program, SBA makes funds available to non-profit, community-based lenders (intermediaries) that make loans to eligible borrowers in amounts up to a maximum of $35,000. The average loan size is about $10,500. Applications are submitted to the local intermediary and all credit decisions are made at the local level.

OESBD can assist businesses in:

  • Loan packaging
  • Identifying and contacting qualified SBA lenders

Industrial R​evenue Bond Program

Established expressly for existing small and mid-sized manufacturers, and 501(c)(3) non-profit corporations, the Industrial Revenue Bond (IRB) program is marketed and coordinated in Broward County by the OESBD. This is a federal program providing tax exempt financing for qualified capital projects. Bond proceeds must be used for the acquisition of land and/or a building, construction of a new facility, renovation of an existing facility or purchasing machinery or equipment.

The program has a maximum tax exempt financing amount for manufacturers of $10 million per project, $20 million per municipal area, and $40 million nation-wide. Additional expenditures can be financed on a taxable basis. 501 (c)(3) non-profit agencies have no tax exempt limits. Other standard credit requirements apply.

Alternative Lend​ing Programs

OESBD also works closely with the alternative lenders located in the Broward County area. Alternative lending partners include: MetroBroward Economic Development Corporation and the South Florida Regional Planning Council Revolving Loan Fund. OESBD can assist businesses with accessing these organizations in pursuit of non-conventional lending alternatives.​​​​​​

Employee Retention Credit (ERC)

The ERC is a federal government aid program designed to assist companies that retained their employees during the pandemic. The ERC is a refundable tax credit against certain employment taxes equal to 50 percent of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021, up to $26K per employee. . ERC differs greatly from PPP and is easy to apply for. Details regarding qualifications and eligibility can be found here. The National Federation of Independent Business hosted an informational webinar on December 9, 2021. Learn more 

​A number of private companies offer technical assistance in securing the ERC. Bottom Line Concepts is a private for-profit company that offer​s Fee-for-Service assistance for businesses of any size to secure the ERC, accepting payment only after securing financial benefits for their clients.