Small businesses are the backbone of any economy. In Florida, small businesses account for more than 97% of the state’s employers. Despite their importance, small businesses often face significant financial challenges. To overcome these challenges, small business owners in Florida can access several grants that can help them stay afloat and grow their businesses. In this article, we will explore available small business grants in Florida comprehensively.
The Florida Small Business Emergency Bridge Loan Program
The Florida Small Business Emergency Bridge Loan Program provides short-term, interest-free working capital loans intended to help businesses stay open until they can secure long-term financing. The program provides up to $50,000 in loan funds per eligible recipient and has a maximum loan term of 180 days. Applicants must be able to demonstrate a direct economic injury as a result of a declared disaster or emergency.
The Minority Business Development Agency Business Center Program
The Minority Business Development Agency (MBDA) Business Center Program is designed to help minority-owned businesses access capital, contracts, and new markets. The program provides technical assistance, business training, access to financing, and more. The MBDA Business Center in Miami is the only one in Florida, and it serves eligible businesses across the state.
The Florida Export Finance Corporation
The Florida Export Finance Corporation provides financing for small businesses in Florida that are seeking to expand their international exports. The program offers several financing options, including pre-export working capital loans, export marketing loans, and export credit insurance. The program’s eligibility requirements include having been in business for at least a year, having a history of profitable operations, and demonstrating an export sales opportunity.
The Florida Small Business Innovation Research and Small Business Technology Transfer Programs
The Florida Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs offer funding to small businesses to help them develop and commercialize innovative technologies. The programs are federally funded, and Florida is one of the many states that act as “regional hosts” for the program’s administration. The program provides funding for research and development programs, as well as assistance with the commercialization of new technologies.
Conclusion
Small businesses in Florida can access a range of grants to help them stay afloat and grow their businesses. Whether it’s the Florida Small Business Emergency Bridge Loan Program, the Minority Business Development Agency Business Center Program, the Florida Export Finance Corporation, or the Florida Small Business Innovation Research and Small Business Technology Transfer Programs, small business owners have a range of options to choose from. These programs can provide the support and funding necessary to help small businesses in Florida reach their full potential. We hope this comprehensive guide has been helpful in exploring available small business grants in Florida.
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