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How to obtain loans to open businesses

If you are looking loans to open businesses, The most common are general loans for small businesses that offer you financial aid for businesses based on certain special requirements.

For example, the SBA microcredit program, offers small short-term loans for small businesses or loans for real estate and equipment, which is a loan program that provides financing for important fixed assets such as equipment and real estate, but there are more options below …

Loans to open businesses in Miami

If you want to know the loans to open businesses, Miami County provides financial and technical assistance to startups through various programs.

Therefore, if you are looking for funds to start a business or want to expand an existing one, you may be eligible for financial assistance from various programs that are funded through the Office of Economic and Community Development. These programs are:

Microenterprise Assistance Program and Peer Loans

This is a program designed to assist construction entrepreneurs with a strong credit history to enhance entrepreneurial skills, share business ideas, and provide peer establishment support.

This program provides you with a direct loan of up to $ 25,000 and requires business profitability and credit strength.

If you are a self-employed entrepreneur without other financial resources, to start your business, you can obtain a business loan of between 500 and 2,000 dollars and between 3,000 and 25,000 dollars through the Partners for self employment program.

The peer loan program creates a forum for peer support by establishing business loan groups that have demonstrated credit, training and support, so as a micro-entrepreneur you achieve self-sufficiency to generate economic growth.

Revolving loan fund

This is a loan program for working capital, machinery, equipment, and commercial site renovation. The maximum amount of the loans cannot exceed 20% of the total cost of the project or 5 million.

Community Development Revolving Loan Fund

This is a loan program for the help of companies that need to start or expand a business. You can receive up to $ 500,000 for fixed assets and working capital.

Business revitalization

Through this program you can receive a loan of $ 100,000 as a merchant who wishes to rehabilitate the exterior of your commercial building.

Loans to open businesses in Florida

Surely you need to know the loans to open businesses in Florida, because if you plan to open a business in this state you require a significant amount of capital, since it is a state with high and rapid growth.

For this reason, most of the money to support starting a business in Florida comes from investors, banks, lenders and entrepreneurs.

Florida Hi-Tech Corridor

At the council of the Florida high-tech broker, you can access a grant to start your business.

Incentive for job growth

The Palm Beach County, Florida Office of Economic Development may offer you a grant based on your proposal for a new business or for the expansion of an existing one, but note that grants are limited to businesses located or relocated in the county. from Palm Beach.

If you qualify, you must disclose the number of jobs you will create, the average annual salary for each type of job and then you will access a grant of between 500 to 2,000 dollars for each job created and the maximum grant amount will be $ 500,000 with a minimum prize of $ 25,000.

Enterprise Florida

In Enterprise Florida you can receive a grant, since they are awarded for the start-up of a business, as long as you meet the standards established by Enterprise Florida.

Under this concept, Enterprise Florida awarded 540 thousand dollars in grants to regional, state and county economic development organizations during 2008, because only if you meet those standards will you be eligible.

SBTT and SBIR grants

The Small Business Innnovation Research or SBIR and Business Technology Transfer or SBTT programs help you receive a federal grant if your project meets two criteria.

If it is a research project, you must meet federal research and development objectives and must also have a high potential for commercial use.

Federal agencies that award research and development grants are the United States Department of Agriculture, the United States Department of Defense, the United States Department of Commerce, the United States Department of Energy, the National Science Foundation, and the Department of Defense. of education of the United States.

Microenterprise assistance and peer loans

This program will be useful to you as an entrepreneur who wants to achieve a solid credit history through a loan. Depending on your particular case, you can receive from 5 thousand to 25 thousand dollars according to the profitability of your business and the strength of credit.

You can get advice on this type of loan program from Partners for Self Employment, Economic Development Coalitions, and the Department of Housing and Community Development.

SBA:

Small business management offers you loans for long or short-term working capital, for the purchase of equipment and inventory and to expand or renovate your business and even for the creation of a new company or for the refinancing of existing but low debt. certain conditions.

For example, with the CDC / 504 loan you can access long-term financing to acquire fixed assets to expand or modernize your business for profit, with a tangible net income of less than 15 million and an average net income of 5 million or less including federal income taxes.

SBA microcredits:

With SBA microcredits, you can access an average of $ 13,000 to purchase inventory, working capital, furniture, supplies, equipment, machinery and accessories, but you cannot use the money to buy real estate or to pay debts. existing.