AVAILABLE LOANS

NEW - Save Small Business Fund

The Save Small Business Fund is a grantmaking initiative offering short-term relief for small employers in the United States and its territories. Funded by corporate and philanthropic partners, the Save Small Business Fund is a collective effort to provide $5,000 grants to as many small employers as we can. We hope these supplemental funds will help you get through the next days and weeks.

SBA Economic Injury Business Disaster Loan and Loan Advance Program - POSTPONED

The Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) Program is available to small businesses and nonprofits that have been severely impacted by COVID-19. These targeted, low-interest loans of up to $2 million can provide vital economic support to help overcome the temporary loss of revenue during this time. The EIDL allows for an advance of up to $10,000.


CHECK BACK WHEN FUNDNIG OPENS BACK UP.

Paycheck Protection Program - SECOND ROUND NOW OPEN

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses, with fewer than 500 employees, to keep their workers on the payroll. The Small Business Administration (SBA) program provides eight weeks of cash-flow assistance through 100 percent federally guaranteed loans. The SBA will partially forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities.

Florida Small Business Emergency Bridge Loan Program

The Florida Small Business Emergency Bridge Loan Program provides short-term, interest-free working capital loans that are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources.

Short-Time Compensation Program

The Short-Time Compensation Program is a voluntary employer program available to provide prorated Reemployment Assistance benefits to employees. These individuals may have had work hours and earnings reduced due to the implementation of a Short-Time Compensation plan to avoid a total layoff of some employees amid COVID-19.

Small Business Loan Program

The Small Business Loan Program is available to qualified businesses that demonstrate adequate historical and/or proposed cash flow coverage and other credit underwriting metrics. The loan proceeds must be used for a business purpose. A business purpose includes, but is not limited to: startup costs, working capital, business procurement, franchise fees, inventory, as well as the purchase, construction renovation or tenant improvements of an eligible place of business that is not for passive real estate investment purposes. Loan Participation is up to 50 percent of the total loan amount. With the 504 Bridge Loan Participation, lenders are permitted to finance equipment and owner-occupied real estate purchases up to 90 percent of the total project cost. Loan amounts range from $250,000 to $5 million.

Microfinance Guarantee Program

The Microfinance Guarantee Program is available to stimulate access to credit for entrepreneurs and small businesses in Florida by providing targeted guarantees to loans made to such entrepreneurs and small businesses. Funds appropriated to the program must be reinvested and maintained as a long-term and stable source of funding for the program.

Black Business Loan Program

The Black Business Loan Program (BBLP) offers alternative lending solutions to Florida-based black owned small businesses by providing short-term loans and technical assistance.

Rebuild Florida Business Loan Fund

The Florida Business Loan Fund provides financing to assist businesses with resiliency efforts. The funds will address the current gap in available, affordable capital for businesses that can be used for inventory purchases, construction, working capital, equipment financing and more.

Available Grants for Non Profits

Community Foundation's COVID-19 Relief & Recovery Grant is open to nonprofits that provide services to Palm Beach County.

Jim Moran Institute Small Business Executive Program

Created to be a world-class learning experience that accommodates the busy schedule of small business owners, the Small Business Executive Program (SBEP) is ideal for CEOs, entrepreneurs, presidents of small businesses, and immediate successors of businesses. You will emerge a stronger leader ready to capitalize on business opportunities, implement best practice management, and turn challenges into a strategic advantage.

Boynton Beach CRA Small Business Disaster Relief Forgivable Loan Program

Eligible businesses with 50 or fewer employees can apply for a $10,000 interest free business loan to be used towards payroll, utilities, or inventory expenses within one year of the loan date. The loan will be forgiven if the businesses can provide documentation of the eligible expenditures. Examples of qualified businesses include, but are not limited to, restaurants, bakeries, gourmet food markets, professional offices, fitness facilities, specialty retail, boutiques, hair/nail salons, and florists. Applications will be accepted starting at 8:30 a.m. on Thursday, April 23, 2020 until 5:00 p.m. on Wednesday, September 30, 2020.