Small Business Revolving Loan Program

Growing South Florida’s economy one business at a time.

Overview

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.

Loan Criteria

  • 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
  • The RLF loan must provide opportunities to business where it is not otherwise granted
  • 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

Loan Size

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.

Contact Information

For more information, contact us at:

Jeffrey R. Tart
Senior Loan Officer
jtart@sfrpc.com

Joyce Hall
Financial Specialist
jhall@sfrpc.com

South Florida Regional Planning Council

1 Oakwood Boulevard, Suite 221
Hollywood, Florida 33020

+1 (954) 924-3653 (Phone)
+1 (954) 924-3654 (Fax)