The Office of Economic Growth and the Pasco Economic Development Council established a community-based microloan fund that acts as a loan source for eligible Pasco County small businesses, including certain types of disadvantaged businesses who often have difficulties accessing credit, such as women-, minority-, veteran- and disabled-business owners.
Who can apply? Any business that is headquartered or plans to be headquartered in Pasco County.
The State of Florida Microfinance Act provides entrepreneurs and small businesses in Florida access to credit. Eligibility is limited to entrepreneur or small business borrowers with ≤ 25 employees and gross annual revenues of $1.5 million, or less, on average. Loan guarantees, made possible through Enterprise Florida, Inc. (EFI) may only be provided on loans between $50,000 and $250,000, and a guarantee cannot exceed 50 percent of the total loan amount.