7 Places to Find Local Business Funding in Florida City

/in , , ,

Grant funding is an excellent way to get business funding that doesn’t have to be paid back. For start-ups and small businesses, this can be a critical way to meet their financial needs without having to go into debt. There are resources available for local business funding in Florida City, though they can take some time to find. We’ve found excellent sources, and this is just a small portion of the money that’s available to you as a business owner in South Florida!

Here Are 7 Sources for Local Business Funding in Florida City

Federal Small Business Grants

The federal government has a vast range of agencies that support all manner of business. Federal grants are often more complicated to apply for but are worth researching and applying for because the rewards are often worth the effort.

1. Grants.gov: This database is large and comprehensive. It is a searchable database with federal grants provided by agencies such as the USDA and the CDC.

2. Small Business Innovation and Research and Small Business Technology Transfer Programs: These federal grant programs focus on science and innovation. The grants are competitive and have specific eligibility requirements.

State and Local Business Grants

Local grants are often a great option, and they’re often more accessible application processes than federal grants as you’re not competing against as many people.

3. Economic Development Administration: The US Department of Commerce works in each state to provide resources in the form of grants and resources.

4. Minority Business Development Agency: This agency focuses on providing grants, resources, and contracts for minority business enterprises.

5. Amber Grant for Women: This group offers $10,000 monthly grants and two annual grants of $25,000 to women entrepreneurs. This grant only requires one application.

Corporate Grants

6. The FedEx Small Business Grant Contest: Each year, FedEx gives money to small businesses that have been in operation for longer than six months and have no more than 99 employees.

7. National Association for the Self-Employed: Membership is required, but the NASE gives out $4,000 grants to self-employed business owners.

For More Information, Turn to EDC South Miami-Dade

Finding funds for your local business in Florida City just got easier! We have many resources available to help support everyone from start-ups to established businesses that have supported our communities for decades. Contact us today to learn more!

Local Business Funding in the Village of Pinecrest: What You Should Know

/in ,

The Village of Pinecrest is committed to supporting local businesses and promoting economic development. One way we do this is through funding for business-related projects. If you are a business owner here, you may be eligible for local business funding in the Village of Pinecrest to help with your business expansion or relocation project. This funding is available through business incentive programs.

There Are Multiple Ways to Fund for Your Business

There are many ways to get local business funding, but the most common way is to go through a financial institution such as a bank. If you want to get local business funding, the best place to start is typically at your local bank or credit union. They will be able to tell you what you need to do in order to get a loan. Banks and other lenders will usually give you a loan if you have good credit and a solid business plan.

You may be able to get funding from the government to help with your business venture. You should look into government grants, not only at a local level but regional and national as well. To find out if you are eligible for any grants, search online. Keep in mind that you will likely have to meet certain criteria to qualify, so make sure you do your research before applying.

There are a number of different ways to raise funds for business purposes, and private investors can be one option to consider. This type of funding can come from individuals or groups of investors who are willing to provide capital in exchange for equity in the business. For many businesses, private investors can be a great source of capital to help them get started or grow their operations.

There are many sources of funding out there, so you should not have trouble finding the right one for you.

For Local Business Funding in the Village of Pinecrest, Turn to EDC of South Miami-Dade

To learn more about growing your business in Pinecrest through economic development programs, please contact us today at the Economic Development Council of South Miami-Dade. We look forward to helping you grow your business in the Village of Pinecrest!

Business Incentives for Economic Development in the Village of Pinecrest

/in , , , ,

Municipalities often offer businesses incentives to condition the local business community and attract outside investment. This helps to maintain a healthy economy that fills the tax base, as well as to support municipal operating costs, public services, and public schools. Economic development in the village of Pinecrest is feasible in part due to the business opportunities that are currently available. The modern way to attract outside investors is to provide economic development opportunities to local business owners. Here are just a few of the many business incentives for economic development in the Village of Pinecrest.

1. Captive Insurance and Captive Reinsurance Domicile Laws

Captive Insurance and Captive Reinsurance laws protect local financial institutions, banks, and insurance companies from the risk associated with business entities outside the state. The laws also protect local financial institutions from competition if the business entities are domiciled outside the state. They also provide entities the opportunity to group their risks into one entity. This can be beneficial to businesses because it lowers the cost of insurance.

2. High-Impact Performance Incentive (HIPI) Grant Program

The State of Florida offers grants to attract investment that provide a high level of employment, economic impact, and cumulative value to a community. While the HIPI program is not unrestricted, it offers municipalities a reduction in sales tax and property tax to attract businesses that provide better employment opportunities and ultimately contribute more to the municipality’s tax base.

3. Brownfield Redevelopment Bonus Tax Refund Program

This grant program gives an incentive to business owners who want to invest in a brownfield property that has been abandoned or is underutilized. It provides financial incentives to businesses to encourage redevelopment of the site, which will contribute to the municipality’s tax base. To qualify for this refund for economic development in the village of Pinecrest, you must create at least 10 new jobs and invest a minimum of $2 million.

4. Florida Power and Light Economic Development Incentive Program

The state offers financial incentives to business owners who purchase energy-efficient equipment. It also provides funding to community organizations that supply educational programs that encourage energy efficiency. The incentives help promote the use of renewable energy, which can be beneficial in a village with a high percentage of ecologically and environmentally conscious residents.

For More Information on Economic Development in the Village of Pinecrest, Turn to EDC South Miami-Dade!

The State of Florida provides a variety of incentives to business owners to provide financial assistance to ensure that the local business community thrives. It encourages businesses to invest in the local economy, maintain and expand their operations, and provide more significant employment opportunities. Contact us today for more information about economic development in the village of Pinecrest.

How to Start a Company and Get Local Business Funding in Homestead / Miami

/in , ,

Starting a business can be a truly exciting and fulfilling venture. It can also be complex and time consuming. The key to success is knowing the steps you should take to get your business up and running and where to find funding resources to get local business funding in Homestead / Miami. 

Here’s What to Do First if You Want to Get Local Business Funding in Homestead / Miami

Funding your business will likely be the most important financial decision you’ll ever make. Your choices for funding can also affect how you structure and conduct your business. Before you get local business funding in Homestead / Miami,  there are several steps you need to take:

1. Do Market Research and Analysis

This is what you need to get an idea of whether or not your business will be successful. It should include demand, market size, economic indicators, location, market saturation, and pricing. 

2. Create Business Plan

Consider this the road map to your success. Your business plan is the foundation of your business and should be written as a guide for each stage of your business. If you’re unsure how to write one, there are many templates online you can find for free. 

3. Calculate Start-Up Costs

Before you seek funding, you need to know how much you need, right? Your start-up expenses might include but aren’t limited to office space, equipment, utilities, marketing materials, website development, and legal representation. 

4. Establish Business Credit

It’s much more difficult to get funding if you haven’t established personal and business credit with an above-average credit history. You should also monitor your credit regularly. 

So, How Do I Get Local Business Funding in Homestead / Miami?

Miami has vast resources for funding. There are specific resources for minorities and women, grant and loan programs, and general business resources. 

Once you have determined how much of your own money you can invest in your business, you should contact the Miami-Dade Management and Budget Division for a complete list of potential funding sources. 

If You’d Like More Information About Business Funding for Homestead / Miami, Contact the Economic Development Council for S. Miami-Dade!

We are happy to answer your questions about local business funding and lead you to valuable resources. Contact us at 305-378-9470. We look forward to hearing from you!

How to Find Local Business Funding in Cutler Bay / Miami

/in , , ,

The saying, “You have to spend money to make money,” is oftentimes true, especially when starting or running a business. The question is, how do you find local business funding in Cutler Bay / Miami? Here’s how you can find funding and make your financial choices carefully!

  • Consider the Amount of Funding You Need

Before you can find the financial solution that suits your business’ needs and goals, you need to know how much funding you’re going to need. Take the time to calculate an approximate of your business expenses. This can include rent, product manufacturing, and more.

  • Look for Investors

Investors are a popular way to receive funding. Investors, well, invest in your company. In turn, they’re offered either an active role in your company or ownership share. Contrastly, you can be your very own investor in a way by self-funding.

Self-funding often involves tapping into your 401k or savings accounts, or turning to friends and family for help by leveraging personal finances. However, you take on all of the risk.

  • Opt for a Small Business Loan

If your goal is to stay in complete control of your business yet still receive financial aid, a small business loan might be right for you. Banks and credit unions offer these small business loans, so make sure to look around and find the best terms for your loan.

Additionally, prepare materials like financial projections, an expense sheet, and a business plan for the next five years. This increases your chances of securing a loan.

  • Use Crowdfunding

Crowdfunding is similar to investors in that you receive funds from multiple people. However, with crowdfunding they don’t receive ownership nor expect financial return. Instead, they receive a gift or incentive from your business, such as the products or services you intend to sell.

For More Help on How to Find Local Business Funding in Cutler Bay / Miami, Let the EDC Help!

It’s not easy to find local business funding in Cutler Bay / Miami, but The Economic Development Council of South Miami-Dade can help! Contact us today to learn more about resources to help your small business flourish!