FBDC Direct Loan Fund

 
The purpose of the Direct Loan Fund is to provide small businesses with a source of gap financing otherwise not available through conventional lending sources. Loans will be made to 504 loan eligible recipients.

Eligible Projects
  • Acquisition and/or construction of real estate
  • Acquisition of machinery and equipment
  • Working capital
  • Management buy-outs
  • Corporate acquisitions
Eligible Businesses
The business should be at least 2-3 years old with proven performance and growing cash flow. Management must be knowledgeable, experienced and financially committed to the business.
Loan Amount
Loans will range from $50,000 to $250,000.
Interest Rate
Fixed for the term of the loan.
Fees
Borrower will be responsible for out of pocket closing costs to include, but not limited to, attorney fees, title insurance, recording fees, etc.
Collateral
Loans will require a subordinate lien on non-504 project real estate. 20% or greater owners will provide guarantees.
Response Time
5-10 days to receive commitment.
Source of Capital
Florida Business Development Corporation Direct Loan Fund.


To find out how FBDC can assist your business please contact us.





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