January 21, 2021
NDC is proud to announce the launch of the Broward County, Florida Municipal Service District (BMSD) Revolving Loan Fund (RLF)! It is a new small business lending program to provide flexible, low cost capital for existing businesses as well as new start-up businesses in the BMSD. The RLF provides commercial and real estate loans, along with small business training and other support services. NDC is partnering with the Broward County Office of Economic and Small Business Development, and the Urban League of Broward County to assist existing BMSD businesses and property owners, as well as entrepreneurs that are interested in starting new businesses or relocating to the BMSD.
“We realize that this has been a challenging year for businesses due to the COVID pandemic and the negative impact that the pandemic has had on our national and local economy. ” said Mayor Steven Geller. “We are committed to providing additional tools and resources to support the businesses in the BMSD during these difficult times.”
The program will officially launch in January 2021.
NDC will offer three types of small business loans to for-profit businesses currently located in or moving into the BMSD:
MICRO- LOANS to small businesses established 6 months or more with 1-100 employees – Ranging from $3,000 -$10,000
START-UP LOANS to new small businesses with 1-100 employees – Ranging from $10,000 -$50,000
CAPITAL ACCESS LOANS to business established for a minimum of 18 months with 1-100 employees – Ranging from $50,000 -$150,000
Funds can be used to buy machinery and equipment, to finance tenant and real estate improvements, as well as provide working capital. The loan fund can be accessed by any business in Broward Municipal Service District.
To Learn More about the BMSD Revolving Loan Fund HERE: https://ndconline.org/broward-district-revolving-loan-program/