Revolving Loan Fund

 

EDIF’s Revolving Loan Fund provide business loans to new & existing microentrepreneurs located in 11 counties in South Florida. TheFund manages $250,000 lending capital through a USDA government program*

A microentrepreneur is an owner and operator of a business with not more than 10 full-time employees.

Loans of 50,000 or less are available to startup and growing microenterprises, including agricultural producers that meet the definition of a microenterprise. The organization prioritizes funding businesses or small farmers that may not qualify for traditional loans, as well as entrepreneurs with creative and innovative ideas.

As part of the program, borrowers can also apply for training and technical assistance to boost their development and ongoing success.

 

Areas Served: Citrus, Sumter, Hermando, Hardee, Highlands, Okeechobee, Indian River, Glades, Hendry, DeSoto & Collier.

 *Rural Microentrepreneur Assistance Program (RMAP)

 

Additional Lending Programs 

 

Merchant Advance

Merchant Financing is an alternative to traditional bank loans. EDIF offers a simple application process, minimal credit requirements and immediate access to working capital for your business. Repayment is flexible and based on your company’s credit card volume. Since repayment depends on sales, businesses often have an easier time servicing their obligations than with a business loan.

Equipment Leasing

Some businesses need new expensive equipment to sustain operations. It is important to highlight that leases are not loans. On a cost-of-capital basis, equipment leasing may be the least expensive option.

Equipment leasing offers advantages over other financing methods: your bank credit lines are not affected, so you retain your bank borrowing capacity for other needs; Equipment leasing finances 100% of the equipment cost, leaving precious working capital for other needs; In many cases, equipment lease payments can be treated as a fully tax deductible expense; The equipment leasing process is faster, simpler, and often less costly than other equipment financing alternatives.

 

 

 

 

Second Look Program

Starting January 2011, the EDIF will review any business loans previously rejected by local banks. The idea behind the program is to help small business owners with working capital. Being rejected by a traditional lender does not mean that your business project cannot be funded.

 

 

Export Loans

The EDIF can help you finance 100% of your exports overseas. The organization also offers export insurance and guidance of overseas markets.

 

 

 

Real Estate Financing

EDIF can help you finance over 100% of the value of your property and advance you the capital you need to cov

er improvements, debt consolidation or cash out for other purchases and needs.Fixed and Variable rates, up to 25 years.

Acquisitions

Acquisition financing is the capital needed for the purpose of buying another business. These funds allow the purchaser to provide the seller capital immediately for the purchase. To learn how EDIF can help you with acquisition financing, contact us at info@edif.us