Growing South Florida’s economy one business at a time.
Helping Small Businesses Succeed – Our Clients Testimonials
“During difficult times when LEASA needed to borrow funds to keep the business afloat, SFRPC was there to help…” Andrew Yap – LEASA Industries Co.
Mark-Anthony Smith, SFRPC Regional Planner; Jeffery Tart, SFRPC RLF Senior Loan Officer; Amy Worsham / Kaitlyn Woolard of Cardno; George Yap, Founder of Leasa Industries (RLF Client); Andrew Yap, CEO & President of Leasa Industries; and Ron Butler, Executive Director of the NW 79th Streeth CRA.
“We are truly and deeply appreciative, we would not be where we are today without your team. God bless organizations like SFRPC and its staff.” Jesus Rodriguez – Pallet Industries, Inc.
The South Florida Regional Planning Council works with the U.S. Department of Commerce, Economic Development Administration to provide low interest rate loans to small- and medium-sized businesses in counties of Miami-Dade, Broward, and Monroe. The Council’s Revolving Loan Fund (RLF) Program is designed to meet the needs of businesses that are not met by conventional lenders.
- The business must be located in Miami-Dade, Broward or Monroe counties
- It should be an existing business looking to expand or relocate, create jobs, and/or retain jobs
- Applicant must show proof of having attempted to secure financing through a conventional banking institution
- RLF funds should only be used for gap financing where a bank is the first lien holder
- Owner must inject or have a 10 to 20 percent equity stake in the project
- Collateral pledged for each loan will depend upon the RLF loan amount, the overall credit risk, and the personal and business assets pledged as collateral
- Personal guaranties by all parties with more than 20% ownership interest will be required
- Funding cannot be used for the acquisition of a business, business assets, or stock
- Unsecured lending is not permitted
- Funding cannot be used as a line of credit
- RLF loans must leverage private investment of at least two dollars for every one dollar of such RLF loans
- Number of jobs created/retained against amount loaned (Must be at least 1 job for every $20,000 loaned from the RLF)
- Meet application requirements
SFRPC-RLF offers loans between $25,000 and $500,000
How to Apply
You must complete the SFRPC-RLF application; provide a business plan, business and personal financial statements, tax returns, and appraisals for equipment, land and other business assets.
For more information, contact us at:
Jeffrey R. Tart
Senior Loan Officer
South Florida Regional Planning Council
1 Oakwood Boulevard, Suite 250
Hollywood, Florida 33020