About Lauderhill

Located in the heart of Broward County, the City of Lauderhill is home to nearly 75,000 residents and a growing number of bustling businesses that help drive the region’s economy. Known for its diverse cultural richness and welcoming community, this All-American City is less than 10 miles from South Florida’s world-famous beaches. The city proudly holds the title of the “cricket capital” of the United States, thanks to Central Broward Regional Park Stadium—the first U.S. cricket ground certified by the International Cricket Council (ICC) to host international matches. This landmark venue has become a hub for cricket in North America, drawing major international events and helping to grow the sport’s popularity across the region. The city is also popular for arts and recreation, featuring signature destinations like Lauderhill Performing Arts Center, Lauderhill Historical Museum, Lauderhill Golf Course and several scenic parks with picturesque trails. With a strong focus on people, progress and sustainability, Lauderhill continues to be a vibrant place for everyone under the sun.

Loan Funds Available from South Florida Regional Planning Council

Post Date:11/12/2020 4:19 PM

SFRPC South Florida regional planning council proudly serving South Florida since 1974

If you are a small business owner, the South Florida Regional Planning Council (SFRPC) has two (2) programs that could help you!

There is a traditional revolving loan program for businesses looking to expand, and a CARES revolving loan for those businesses who were particularly impacted by COVID-19.

1. Small Business Revolving Loan Program

We are here to help!!! 

The South Florida Regional Planning Council (SFRPC) knows that the best economic development plan for the region is to support entrepreneurs and their businesses so that they can create jobs and opportunity for South Florida’s residents.

The Facts

  • Loan Size: $25,000-$500,000 
  • Loan Terms are based upon the borrower’s needs, repayment ability, and the amount financed. 
  • Interest rates will be determined by the perceived credit risk. 
  • Collateral is required collateral pledged for each loan will depend upon the revolving loan fund (RLF) loan amount and the overall credit risk. Personal guaranties by all parties with more than 20% ownership.

Click Here to Apply

Loans are available now!!! 

Complete the application and provide a completed business plan including business and personal financial statements, tax returns, and appraisals for equipment, land, and other business assets. 

For more information, please email Senior Loan Officer Jeff Tart or Alisha Lopez.

2. Small Business Loans Available Through the CARES Act

About

The SFRPC has secured funds from the U.S. Department of Commerce Economic Development Administration (EDA) to capitalize a small business revolving loan fund for business adversely impacted by COVID-19. These funds, provided pursuant to the March 2020 Coronavirus Aid Relief and Economic Security Act (CARES Act), will be administered by the SFRPC through its Revolving Loan Fund CARES Act Program.

Keep in Mind

  • The RLF CARES Act Program is a long-term financing program to help stabilize existing businesses impacted by COVID-19.
  • RFL CARES Act Program funds CAN be combined with:
    • Economic Injury Disaster Loans (EIDL)
    • Paycheck Protection Program (PPP)
    • State of Florida Bridge Loan Program
  • Personal guaranties and collateral are required
  • RLF CARES Act Program is NOT a grant or forgivable loan

Loan Information 

  • $5,380,000 
  • Economic Development Administration Cares Act Recovery Assistance 

Eligibility

  • Small Businesses 
  • Sole Proprietors 
  • 501C3 Organizations
  • Located within Monroe, Miami-Dade, Broward & Palm Beach counties

Financing

  • Loan Amount: $25,000 - $500,000 
  • Interest Rate: Fixed 3% - 4% 
  • Duration: Up to 10 Years

How to Apply

For fastest approval, be prepared to document your economic loss due to COVID-19. Be aware of fraudulent schemes and only discuss finances with a trusted professional.

Address: 1 Oakwood Boulevard, Suite 250, Hollywood, Florida 33020 

Phone number: 954.924.3653 (office) and 954.924.9654 (fax)

 

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