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A corporate launch or move no matter how large or small comes at a financial cost - in both time and money. From technical support to grants, loans, and bonds, programs are available to help businesses achieve prosperity. Want to access services to ensure success in Volusia County? Contact us.
Commercial Business Finance provides working capital financing for small to medium sized companies. CBF finances approximately $60,000,000 in accounts receivable annually. Specializing in accounts receivable financing which allows them to provide lines of credit to companies that may not qualify for traditional bank financing. CBF bases their decision on the strength of the client’s customers rather than past financials or credit profile.
Through its two local SBA offices in Florida, Jacksonville SBA office and Miami SBA office, the U.S. Small Business Administration (SBA) offers several loan programs that provide financial aid to small businesses. Our local Small Business Development Center (SBDC) at Daytona State College is your point of contact to SBA loans.
IDRB financing is administered through an Industrial Development Authority created by Volusia County and administered through their Economic Development Department.. The bond can be used for the purpose of financing or refinancing expansion of two types of companies: manufacturers and non-profit organizations. Bond financing can provide up to 100 percent funding of a qualified project within federally specified dollar limits.
IDRBs are beneficial to qualified companies as they are longer term and available at a lower interest rate than most commercial loans. The interest on the bonds has preferable income tax treatment by the IRS and those savings are passed along to the user. Like commercial loans, IDRB approval is related to the company’s credit worthiness.
The Enterprise Bond Program offers tax-exempt, low interest bond financing to qualified manufacturing and 501(c)(3) non-profit organizations through Florida Development Finance Corporation.
Matching Grants Research Program through the Florida High Tech Corridor Council provides matching grants to companies located in the 23-county Corridor region; grants support industry-university research projects and SBIR/STTR awards in which one of the three participating universities is a partner (University of Florida, University of Central Florida, University of South Florida).
SBIR/STTR Phase 0 Pilot Program is is being implemented through a partnership between Enterprise Florida, Inc., and participating Technology Incubators, University Technology Transfer Offices, Economic Development Organizations, and Small Business Development Centers. It is intended to help Florida companies increase their chances of submitting a successful Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) proposal.
New World Angels (NWA) is a group of private investors providing equity capital to early-stage entrepreneurial companies in the State of Florida. NWA has chapters in South Florida and the Tampa Bay area and is typically a lead or co-investor in transactions totaling between $0.5 million and $2.5 million.
Winter Park Angels Membership Group, LLC is a group of accredited investors who provide equity capital to early-stage entrepreneurial companies located in Florida. WPA does not focus solely on any single industry. Rather, they look for companies who are in the early stage of rolling out a unique, preferably proven, product or concept.
The Florida Growth Fund manages $250 million of capital dedicated to prudent investment in technology and growth related businesses with significant presence in the State of Florida. The Florida Growth Fund will seek to enhance Florida’s capacity for development, growth and innovation while simultaneously generating an attractive return for the Florida State Board of Administration.