Small Business Revolving Loan Program

Growing South Florida’s Economy One business at a Time

Overview

The South Florida Regional Planning Council is working with the U.S. Department of Commerce, Economic Development Administration to provide low interest rate loans to small and medium-sized businesses within Miami-Dade, Broward, and Monroe counties.  The Council’s Revolving Loan Program is designed to meet the credit needs of businesses in our region that are not entirely served by conventional lenders.

Loan Criteria

• Business must be located in Miami-Dade, Broward or Monroe counties
• Existing business looking to expand or relocate, create jobs and/or retain jobs
• Provide opportunities for business where credit is not otherwise granted:
• Applicant must attempt to secure conventional financing first before applying
• Must show proof of denial from conventional financier
• Funds can only be used for gap financing when a bank is the first lien holder
• Owner must inject or have a 10 to 20 percent equity stake in the project
• Funding cannot be used for the acquisition of a business, business assets or stock
• Funding cannot be used by churches, nonprofit, civic nor fraternal organizations
• Unsecured lending is not permitted
• Funding cannot be used as a line of credit
• Meet application requirements

Loan Size

SFRPC-RLF offers loans between $50,000 and $300,000.

How to Apply

The SFRPC-RLF loans are available for all types of businesses – industrial, commercial, service and information technology, and for all types of uses.

You must complete the SFRPC-RLF application; provide a completed business plan, including business and personal financial statements, tax returns and appraisals for equipment, land and other business assets.

Contact Information

Contact us for more information at:

Email Address:
rlf@sfrpc.com

Mailing Address:
South Florida Regional Planning Council
3440 Hollywood Boulevard, Suite 140
Hollywood, Florida 33021

Telephone:
(954) 985-4416 Broward Only
(800) 985-4416 Elsewhere in Florida
(954) 985-4417 FAX

Revolving Loan Fund Application