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City News & Events

Posted on: August 31, 2020

COVID19 Impacted Business Revolving Loan Fund

The South Florida Regional Planning Council (SFRPC) has secured funds from the U.S. Department of Commerce Economic Development Administration (EDA) to capitalize a small business revolving loan fund (RLF) for businesses adversely impacted by Coronavirus.

These CARES Act Recovery Assistance funds will be used to provide loans ranging from $25,000 to $500,000 with a fixed interest rate of 3 – 4% and a loan term of up to 10 years for Small Businesses, Sole-Proprietors and 501(c)(3) organizations located within Palm Beach, Broward, Miami-Dade or Monroe Counties.
 
RLF CARES Act Program funds can be combined with Economic Injury Disaster Loans (EIDL), Paycheck Protection Program (PPP), or the State of Florida Bridge Loan Program. Personal guaranties and collateral are required.

Additional information can be found at sfregionalcouncil.org or by contacting Jeff Tart, Senior Loan Officer, at jtart@sfrpc.com or 954.924.3653.

For additional information please contact the Economic Development Department at (954)395-6051 or GChazu@deerfield-beach.com.

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