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The following programs are available to businesses currently located in (or relocating into) one of the CRA districts. See map of CRA districts here.
The Grow Gainesville Fund is an SBA-backed loan program that provides favorable loan terms to established businesses (at least three years of operations) located with one of the CRA areas. Loans may be used to purchase buildings or land, acquire equipment or inventory, as working capital or to refinance existing debt.
Loan amounts range from $100,000 -$500,000 with terms up to 25 years and competitive interest rates ranging from Prime + 1% to Prime +2.75%.
Click to Download Brochure
The Capital Access Program (CAP) helps reduce the 10% equity requirements of a borrower with an SBA 504 loan structure. The typical SBA 504 loan structure is:
50% Primary Bank Lender
40% SBA-approved Lender
10% Borrower Equity
Borrowers may borrow a maximum of 50% or $35,000 (whichever is less) to help reduce the 10% borrower equity requirement.
Please contact us at (352) 334-2205 for more information
or e-mail us at: info@gainesvillecra.com
The Façade Grant Program is a competitive, matching grant program that is designed to encourage reinvestment in building facades of businesses located on highly visible target corridors within the CRA redevelopment areas. Applicants must commit to expending (at a minimum) a cash match equal to the grants funds sought in the application.
Please contact us at (352) 334-2205 for more information
or e-mail us at: info@gainesvillecra.com
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