Financing

Palm Beach County is home to numerous institutions providing financial assistance to companies within the community. 

Access to Financing

While we do not offer any direct financing, our organization maintains a growing list of resources to assist a wide variety of companies, and we regularly coordinate loans and other financial products and incentives. Whether your company is a small, locally owned enterprise, or a larger company interested in tapping international markets, we can refer your organization to the institutions willing and capable of providing the financial support needed to grow your business. 

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PUBLIC/NON-PROFIT FINANCING SOURCES

The following organizations provide financial products for high-risk and newer businesses, or businesses in designated areas.

The Palm Beach County Section 108 Loan Program

The Palm Beach County Section 108 Loan Program is administered by the Palm Beach County Department of Economic Sustainability. The Program assists eligible businesses with funding for fixed assets and working capital financing.

The Palm Beach County Section 108 Loan Program

The Palm Beach County Section 108 Loan Program is administered by the Palm Beach County Department of Economic Sustainability. The Program assists eligible businesses with funding for fixed assets and working capital financing. This Program is funded by the U.S. Department of Housing and Urban Development (Section 108 Loan Guarantee Program) and administered by Palm Beach County. These loan funds are federal dollars and will be provided as fixed or floating rate loans.

Projects must yield public benefits and meet one of HUD’s National Objectives. The creation of new jobs is required. The loan amount will be determined by the number of new jobs to be created.
 
Eligible activities include: Land acquisition, real property acquisition, utility and road infrastructure improvements, new construction of commercial and industrial buildings, rehabilitation of commercial and industrial buildings, purchase and installation of equipment and fixtures, refinancing of existing debt (as part of a new project creating new job opportunities), working capital, and any other CDBG-eligible activity approved by the Board of County Commissioners.

For full information, please refer to the Program Criteria.

Meri Weymer, Economic Development Director 
[email protected]  561-233-3675

David Jaco, Business & Economic Development C​​oordinator  
[email protected]  561-233-3671

100 Australian Avenue, Suite 500
West Palm Beach, FL 33406
561-233-3600

Click here for more information regarding the Section 108 Loan Program

Click here for information regarding additional Palm Beach County Programs

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Black Business Invest­ment Corporation (BBIC)

The BBIC is a not-for-profit organization formed by the financial and business community in accordance with the Small and Minority Business Act of 1985.

Black Business Investment Corporation (BBIC)

The BBIC is a not-for-profit organization formed by the financial and business community in accordance with the Small and Minority Business Act of 1985.

The BBIC's main objectives are to ensure that black businesses have the opportunity to obtain financing and other resources to compete in the marketplace, and to foster increased
employment and social stability within the black community.

BBIC Marlon D. White, President
2001 Broadway, Suite 250, Riviera Beach, FL 33404
561-845-8055; Fax 561-863-0897

Click here for more information regarding the Black Business Investment Corporation

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Industrial Develop­ment Revenue Bonds

Through the issuance of Industrial Development Revenue Bonds, Palm Beach County provides below-market interest rate financing for fixed-asset projects.

Industrial Development Revenue Bonds

Through the issuance of Industrial Development Revenue Bonds, Palm Beach County provides below-market interest rate financing for fixed-asset projects.

For qualified borrowers, loans ranging from $2 million to $10 million for terms up to 20 years are made available at interest rates approximating 75% of the prevailing New York prime rate.

Eligible projects may include manufacturing, assembly, printing, and food processing, and others in which raw material is converted or combined with other raw material to produce a finished or semi-finished product.

Eligible costs can include the purchase of land, construction of new buildings, and purchase and installation of new equipment.

The purchase and rehabilitation of an existing facility may also qualify.

Business Development Board of Palm Beach County, Inc.
310 Evernia Street, West Palm Beach, FL 33401
Shawn Rowan, Vice President - [email protected]
561-835-1008

Department of Housing and Economic Development
Meri Weymer, Economic Dev​elopment Director
[email protected]
561-233-3675

David Jaco, Business & Economic Development Coordinator
[email protected]​
561-233-3671

Palm Beach County Attorney Office
Howard J. Falcon III, Chief Assistant County Attorney; [email protected] ​
Beverley Johnstone, Legal Secretary; [email protected]
301 N. Olive Avenue, Suite 60,1 West Palm Beach, FL 33401
561-355-2734; Fax 561-656-7045

Click here for more information regarding Industrial Development Revenue Bonds

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Florida Oppor­tunity Fund

Legislation passed by Florida Legislature collectively referred to as the Florida Capital Formation Act, provided for the creation of the Florida Opportunity Fund (“FOF” or the “Fund”), initially as a “Fund of Funds” program that invests in venture capital funds.

Florida Opportunity Fund

Legislation passed by Florida Legislature collectively referred to as the Florida Capital Formation Act, provided for the creation of the Florida Opportunity Fund (“FOF” or the “Fund”), initially as a “Fund of Funds” program that invests in venture capital funds. In 2009, The Florida Legislature expanded the Florida Opportunity Fund’s mandate under the Florida Capital Formation Act to create direct investment programs that invest in businesses and infrastructure projects. The Florida Opportunity Fund is sponsored by Enterprise Florida and is managed by Florida First Partners (“FFP”).

The Florida Opportunity Fund officially launched its fund of funds program in 2008, and its direct investment program, the Clean Energy Investment Program, in 2010.

The Florida Opportunity Fund’s “Fund of Funds” program was created to realize significant long-term capital appreciation by identifying and investing in a diversified, high-quality portfolio of seed and early-stage venture capital funds that target (in whole or in part) investment opportunities within Florida. In addition, the Fund of Funds program will seek to:

  • Achieve a superior internal rate of return on private equity investments while contributing to Florida’s economic developments.
  • Foster the creation, retention, and growth of companies and jobs in Florida.
  • Encourage the development and growth of a vibrant Florida-based venture capital and angel investment community.
  • Help facilitate the transfer of technologies from the State’s various universities and research institutions to the private sector.
  • Attract investments from regional and national private equity funds.

The Florida Opportunity Fund’s Clean Energy Investment Program was created to promote the adoption of energy efficient or renewable energy (EE/RE) products and technologies in Florida by providing funding to businesses to increase the use of EE/RE technologies, equipment, and materials in the State.

Funding opportunities afforded under the Program may consist of debt and other instruments, so long as the proposed activities are consistent with the Focus Areas described below. Examples of possible structures for funding opportunities include project financing, asset-based lending, mezzanine financing, and equity investments.

The Program’s Focus Areas for investment are:

  • Facility and Equipment Improvement: Implementing, expanding, upgrading, or demonstrating energy efficient products, equipment, and materials for use by companies in their existing facilities and buildings in Florida.
  • Renewable Energy Products: Acquiring, upgrading, or demonstrating small-scale renewable energy products, equipment, and materials for use by companies in their operations in Florida.
  • Process Improvement: Determining potential energy efficiencies and then executing actions to reduce consumption or increase the efficient use of energy in existing production, manufacturing, assembly, or distribution processes, including the purchase of equipment and materials to make processes more energy efficient.

Click here for more information regarding the Florida Opportunity Fund

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Florida Business Development Corporation (FBDC)

The Florida Business Development Corporation is the Certified Development Corporation (CDC) authorized by the Small Business Association (SBA) to provide 504 financing for real estate purposes.

Florida Business Development Corporation (FBDC)

The Florida Business Development Corporation is the Certified Development Corporation (CDC) authorized by the Small Business Association (SBA) to provide 504 financing for real estate purposes.
The FBDC provides fixed-asset financing (primarily for real estate acquisition) to qualified businesses in conjunction with participating banks.

Bill Habermeyer, President & CEO
1715 N Westshore Blvd., Suite 780
Tampa, FL 33607
813-348-0660

Click here for more information regarding the Florida Business Development Corporation

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Florida First Capital Finance Corporation

Florida First Capital Finance Corporation is chartered for the primary purpose of advancing the economic development and general welfare of the citizens of Florida by promoting and assisting the growth and development of small business concerns within the state.

Florida First Capital Finance CorporationFlorida First Capital Finance Corporation is chartered for the primary purpose of advancing the economic development and general welfare of the citizens of Florida by promoting and assisting the growth and development of small business concerns within the state.

It was founded by the State of Florida and licensed since 1984 by Small Business Administration (SBA) as Florida’s Statewide Certified Development Company.

504 loans are paired with private-sector commercial loans and provide up to $5 million of aggregate SBA eligibility on standard 504 projects; up to $5.5 million per 504 energy efficient green project does not exceed $16.5 million in the aggregate; and up to $5.5 million per eligible small manufacturing project with no limit on total SBA dollars available. These are SBA 2nd mortgage loan portions only; there is no limit on overall project dollar size.

Laurel McNamara, BDO Palm Beach County  
955 NW 17th Avenue
Delray Beach, FL 33445
[email protected]
561-764-4881

Click this link to find out more regarding the Florida First Capital Finance Corporation

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Small Business Development Center

The SBDC is a cooperative effort of the private sector, the educational community and federal, state and local governments.

Small Business Development Center

The SBDC is a cooperative effort of the private sector, the educational community and federal, state and local governments. It enhances economic development by providing small businesses with management and technical assistance.

Sandra D. Marin Ruiz, ED.D. Regional Director
[email protected]
Florida Atlantic University
777 Glades Road
Boca Raton FL, 33431

Click here for more information regarding the Small Business Development Center

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South Florida Small Business Admin­istration

The U.S. SBA guarantees bank loans for qualified small businesses.

South Florida Small Business Administration

The U.S. SBA guarantees bank loans for qualified small businesses.
A full range of products are available, including loan guarantees for loans under $50,000 and revolving line of credit guarantees for exporters.

Jon Malcolm Richards, District Director.
51 SW 1st Ave., Suite 201
Miami Fl, 33130
[email protected]
646-925-2112

Click here for more information regarding the South Florida Small Business Administration

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INTERNATIONAL FINANCING PROGRAMS

Export-Import Bank of U.S.

The Export-Import Bank of the United States is an independent U.S. Government agency that helps finance the overseas sale of U.S. goods and services

Export-Import Bank of U.S.
The Export-Import Bank of the United States is an independent U.S. Government agency that helps finance the overseas sale of U.S. goods and services.
It provides working capital loan guarantees and credit insurance to qualified exporters. 

Elena Méndez: Regional Director   
Office: 786-607-0722 | Cell: 786-623-7673   
[email protected]   
5835 Blue Lagoon Drive, Suite 203
Miami, FL 33126
305-526-7436

Click here for more information regarding U.S. Export-Import Banking

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ACCION, USA

Accion works to empower families, small businesses, and communities overlooked by the global financial system.

ACCION, USA
Accion works to empower families, small businesses, and communities overlooked by the global financial system.
We expand access to critical financial tools and open opportunities to build resilience, grow, and succeed.
We find, fund, and grow companies creating new ways to meet the financial needs of the underserved.
We advance inclusive financial services through rigorous research and advocacy for evidence-based change.
We work with partners around the world who believe in the importance of creating a financially inclusive world.”

Liza Curcio-Rudy, Senior Associate, United States
[email protected]
1101 15th St. NW, Suite 400, Washington, DC 20005
202-393-5113
202-545-0361

Click here for more information regarding Early-Stage Fintech Financing

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Palm Beach County Business Loan Program

Palm Beach County Business Loan Program

The Palm Beach County Department of Housing and Economic Development offers business loans with favorable terms and low rates to stimulate economic development growth and job creation.

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Micro Loans

The Center for Enterprise Opportunity (CEO)

The Center for Enterprise Opportunity (CEO) is a private, non-profit corporation organized under Florida Statutes 112.

The Center for Enterprise Opportunity (CEO)

The Center for Enterprise Opportunity (CEO) is a private, non-profit corporation organized under Florida Statutes 112. The chartered purpose and mission is to improve the economies in distressed communities by lending to small businesses and sponsors of community development initiatives which benefit low and moderate income persons. As a Certified Development Financial Institution (CDFI), the Center for Enterprise Opportunity is eligible for significant federal equity grants and other awards from the U.S. Department of Treasury to support its lending and programs.

As a non-traditional lender, (CEO) raises capital from public and private investors, e.g. government, banks, individuals, corporations and philanthropic organizations and then deploys these funds primarily for lending to small businesses and community development entities. The CEO also provides technical assistance and training to prospective and existing clients. Direct services and referrals to a network of service providers are offered to existing clients of the Center for Enterprise Opportunity before and after loan closing in an effort to ensure compliance with terms and conditions of the loan; and ultimately to ensure repayment to the Loan Fund and profitability for the businesses.

2200 N. Florida Mango Road
Suite 401
West Palm Beach, FL 33409
561.478.2337

Click here for more information regarding the Center for Enterprise Opportunity

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PRIVATE FINANCING SOURCES

New World Angels

New World Angels
New World Angels (NWA) is a group of private investors dedicated to providing equity capital to early- and mid-stage entrepreneurial companies. Its primary focus is on companies based in South Florida.

New World Angels
1900 Glades Rd
Suite 500-07
Boca Raton, FL 33431
(561) 372-6309
General Information: [email protected]

Click here for more information regarding New World Angels Programs

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Small Business Assistance

Service Corps of Retired Executives (SCORE)

SCORE is a nonprofit association dedicated to educating entrepreneurs and helping small businesses start, grow, and succeed nationwide.

Service Corps of Retired Executives (SCORE)
SCORE is a nonprofit association dedicated to educating entrepreneurs and helping small businesses start, grow, and succeed nationwide.

SCORE is a resource partner with the U.S. Small Business Administration (SBA), and has been mentoring small business owners for more than 40 years.

SCORE is a valuable network of 13,000+ volunteers who offer small business entrepreneurs confidential business counseling services at no charge.

SCORE volunteers have the knowledge and experience to help any small business owner get the help they need.

SCORE also provides local workshops and events throughout the country to connect small business owners with the people and information they need to start, grow, and maintain their businesses, as well as online workshops.

500 S. Australian Avenue
Suite 115
West Palm Beach, FL, 33401
[email protected]
561-981-5180 

Click here for more information regarding Service Corps of Retired Executives

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Minority Business Assistance

CAMACOL/The Latin Chamber of Commerce of the United States

Programs include business assistance, trade missions, business relationships throughout Latin America and the Caribbean, and an in-house employment bureau.

AMACOL/The Latin Chamber of Commerce of the United States
Programs include business assistance, trade missions, business relationships throughout Latin America and the Caribbean, and an in-house employment bureau.

Patricia Arias, Executive Director
[email protected]
1401 West Flagler St.
Miami, FL 33135
Phone: 305-642-3870
Email: [email protected]

Click here for more information regarding CAMACOL

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The Hispanic Chamber of Commerce of Palm Beach County

The Hispanic Chamber of Commerce of Palm Beach County is the information source to help, develop, and grow the area's Hispanic market.

The Hispanic Chamber of Commerce of Palm Beach County
The Hispanic Chamber of Commerce of Palm Beach County is the information source to help, develop, and grow the area's Hispanic market.

It provides economic and demographic data on the strength and future growth of the Hispanic market; represents and helps Hispanic enterprises in their business endeavors; and develops ties with non-Hispanic businesses that utilize the resources of the Hispanic market for commerce and employment.

Maria Antuña
Executive Director
1427 S Congress Ave
Building B
West Palm Beach, FL 33406
561.832.1986
[email protected]

Click here for more information regarding the Hispanic Chamber of Commerce of Palm Beach County

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Florida State Minority Supplier Development Council

The mission of the Southern Florida Minority Supplier Development Council is to link Corporations and Government Agencies with Minority Business Enterprises (MBEs) to foster business development and expansion.

Florida State Minority Supplier Development Council 
The mission of the Southern Florida Minority Supplier Development Council is to link Corporations and Government Agencies with Minority Business Enterprises (MBEs) to foster business development and expansion. The SFMSDC was founded in 1975 by the Greater Miami Chamber of Commerce and the Greater Miami Progress Foundation for the purpose of fostering the development of minority-owned businesses throughout South Florida.

The Council's main function is to register and certify minority-owned businesses. The process ensures that these businesses are 51% minority-owned and operated in accordance with the guidelines set by the National Minority Supplier Development Council. The SFMSDC is one of 38 regional councils affiliated with the NMSDC. In order to more effectively carry out its mission, the SFMSDC provides support to Corporate members and MBE affiliates from three offices in Miami-Dade, Broward and Palm Beach counties.

Click here for more information regarding SFMSDC

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