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SSBCI, administered by FloridaCommerce in partnership with the Florida Opportunity Fund and Florida First Capital Finance Corporation, has five programs to serve small businesses that may not otherwise have access to the capital needed to grow their businesses, including very small businesses and businesses owned by socially and economically disadvantaged individuals.

This multi-year initiative is part of Governor Ron DeSantis’ large-scale effort to prioritize workforce development, cultivate a business-friendly environment, and stimulate aggressive economic growth.

In September 2022, FloridaCommerce announced the approval of the state SSBCI application by the United States Department of the Treasury (U.S. Treasury) for $488 million in funding. Funding is available from U.S. Treasury in three tranches, and the first tranche of funding - $142 million – is ready for deployment.

Florida’s SSBCI program will provide businesses with additional resources and capital to facilitate business growth and economic development. These funds will support businesses owned or controlled by socially and economically disadvantaged individuals, including minority-owned, women-owned, veteran-owned, rural, or other targeted small business populations across the state.

For Lenders and Investors 

Collateral Support Program 

The Collateral Support Program enables financing that might otherwise be unavailable due to a collateral shortfall. This credit enhancement uses public resources to encourage private lenders to lend money to businesses by providing a cash deposit as collateral for a business loan or credit facility.

Equity Capital Program

The Equity Capital Program is a targeted investment strategy implemented on an appropriate scale that can attract capable investment managers to support Florida small businesses and create value. FloridaCommerce will work with the Florida Opportunity Fund to secure partnerships with public entities and investment managers.

Loan Participation Program 

SSBCI funds are used alongside private funds to support a loan to a borrower. The SSBCI funds may be used as a companion loan, or the funds may purchase a portion of the loan made by the private lender.

Loan Guarantee Program

The Loan Guarantee Program provides a private lender with a short-term, partial guarantee to support a loan or line-of-credit for eligible small businesses.

Capital Access Program

The Capital Access Program is a pooled loan insurance program where a private lender originates a loan, and the borrower and lender contribute a percentage of the loan per eligible small business, which is then matched by SSBCI funding.

SSBCI Lender Toolkit 

SSBCI Lender Toolkit

For Businesses


To be eligible, businesses must be Florida-based and have 500 employees or less. Funding through Florida’s SSBCI programs may be used to fund start-up costs, business procurement, franchise fees, equipment, inventory, and the purchase, construction, renovation, or tenant improvements of an eligible place of business.

How to Apply

Funding through the SSBCI program is administered through a network of partner lenders.

FloridaCommerce encourages Florida-based small businesses to sign up for updates on funding opportunities through SSBCI.


Program Resources 


Frequently Asked Questions


FloridaCommerce's State Small Business Credit Initiative Informational Webinar

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FloridaCommerce's State Small Business Credit Initiative Informational Webinar with VISIT Florida

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Participating Lender

SSBCI Participating Lender Contacts


Financial Institution Name of Contact Contact Methods County
Accion Opportunity Fund Community Development Ben Pitkow, Product Manager Phone: (408) 717-2675 Santa Clara 
Financial Access Federal Credit Union  Mireya Eavey, Business Development Officer Phone: (941) 357-5266
Sunwest Bank Joseph Janoschka, SVP Phone: (239) 246-3430
First Southern Bank Steve Watters, Community President Phone: (772) 234-8050
Miami Bayside Foundation, Inc. Kathleen Murphy, Executive Director Phone: (786) 703-5770
Marine Bank & Trust William Talley, SVP Phone: (772) 370-3856
Indian River
Locality Bank George Sanchez, SVP/ SBA Loan Specialist Phone: (954) 249-9992 
Gulf Coast Business Bank Ryan Lovett Phone: (239) 306-8627
First Republic Bank Andrew Sikamal, VP Phone: (603) 952-4982
Palm Beach
United Bank Jerry Burden, Senior VP Phone: (850) 858-1200
Santa Rosa
Ascendus, Inc. Fabiana Estrada, Regional VP of Lending Phone: (866) 245-0783
New York
Paradise Bank Kevin Rafferty, VP Phone: (561) 704-7221
Palm Beach
NCRC Community Development Fund Patrick Dixon, Program Specialist Phone: (202) 796-1236
 District of Columbia
 SmartBank Erik Davis, Market President Phone: (850) 701-0315
Bay, Calhoun, Escambia, Franklin, Gadsden, Gulf, Holmes, Jackson, Leon, Liberty, Okaloosa, Santa Rosa, Wakulla, Walton, Washington 


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