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Bond Programs

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:

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 millionin 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.​​​​​​