Any Florida-based small business, or small business that will be located in Florida, with 500 employees or less. This includes corporations, partnerships, sole-proprietors, independent contractors, nonprofits, and cooperatives. Permissible borrowers may include state-designated charitable, religious, or other nonprofit or philanthropic institutions; government-owned corporations; consumer and marketing cooperatives; and faith-based organizations, provided the loan is for a “business purpose.”
A business purpose includes, but is not limited to: start-up costs, working capital, business procurement, franchise fees, equipment, inventory, and the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real-estate investment purposes.
Restrictions apply to refinancing and other uses; please refer to the SSBCI Policy Guidelines for additional details.