If you are interested in relocating your company to PalmBeach County, your businessmay qualify for certain incentives; the level of assistance depends on the wage scale and number of jobs/benefits provided. Local and state governments provide various types of assistance to new and expanding businesses that create employment.
There are numerous resources for early stage companies to finance their business, from government funding to regional matching grants to local investment firms. Below, you will find a downloadable “quickguide” to the financial resources available, as well as helpful links to guide you.
/cloudfront-us-east-1.images.arcpublishing.com/gray/MQHZ72SPRPIVJULO5TRMLWFHEY.com?strip=all)
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR): Three-phased federal funding programs specifically for small businesses to perform R&D needed by the participating agencies.
Impact 100 Palm Beach County Seeks Nonprofits
Enterprise Florida SBIR/STTR Phase “0” Grant Program: Provides grants of up to $3000 to support preparation of a Phase I SBIR or STTR proposal.
SBA 504 Loan Program: U.S. Small Business Administration (SBA)-approved loan program designed to help owners of small- and mid-size businesses purchase commercial real estate. (Note: Over 98% of companies in Florida are viewed as “small businesses” by the SBA.) A major benefit of the SBA 504 Loan is that it finances as much as 90% of a borrower’s “total project cost, ” including land acquisition/construction, equipment, soft costs, and closing costs. This, combined with longer amortizations (up to 30 years) and long-term fixed interest rates, allows business owners to enjoy the advantages of owning commercial property with minimal impact on cash flow.
Start-up Financing: Funding provided for product development and initial marketing (which means the company has key management, market research, and a business plan in place).
Arpa Small Business Grant Program
Small Business Investment Companies: Licensed by the U.S. Small Business Administration, these privately owned and managed investment firms combine their own capital with funds borrowed from the government and invest as venture capital in small businesses.
Florida First Capital Finance Corporation (FFCFC): Established to assist companies in the packaging of SBA 504, SBA 7A, Recycling Loans, and Energy Loans. The Business Development Board is available to facilitate meetings with FFCFC and the company.
Industrial Development Revenue Bonds (IDRB): IDRB financing is a federal program, administered by the state at the local level. The bonds may be used for the purpose of financing or refinancing expansion of two types of companies: Manufacturers and non-profit organizations. Bond financing can provide up to 100% funding of a qualified project within federally specified dollar limits. IDRBs are beneficial to qualified companies as they are longer term and available at a lower interest rate than most commercial loans. The interest on the bonds has preferable income tax treatment by the IRS, with those savings passed along to the user. Like commercial loans, IDRB approval is related to the company’s credit worthiness.
Small Business Assistance In Florida
Enterprise Florida Bond Program: This program is available for manufacturing projects between $800, 000 and $2 million. The guidelines are similar to the regular Industrial Revenue Bond Program. These issues are pooled with other projects and approved on a quarterly basis.
Other Government Grants: Issued by local, state, and federal agencies that spend billions of dollars each year for procurement, research, and consultant services. Start-up companies may wish to partner with a larger company and serve as a subcontractor or pursue small business set-aside contract/grant opportunities.
Angel Investors: An angel investor generally wants less control of your company and a slower return on investment; however, the criteria for investment are likely to be similar. Angel investor groups are great sources of private capital and frequently invest angel money into new companies.
Targeted Industries Palm Beach County
The Business Development Board’s team of experts is ready to assist you with your business relocation and expansion needs in Palm Beach County. Contact us with your requirements and let us show you why, in Palm Beach County: Innovation. Starts. Here.COVID-19 Finance & Payments Information *New*SBA and Treasury Answers to PPP Loan and EIDL FAQs *New* 2021 AMA Summary Physician Fee Schedule Rule 14268 *NEW* PPP Loan Forgiveness Can Pivot Your Practice Post Pandemic
*New* Capture Payments for Uninsured COVID Patients, But Act Fast to Get a Slice *New* Medicaid and CHIP funds from the Provider Relief Fund *New* Paycheck Protection Program Flexibility Act Makes Loan Forgiveness Easier
*NEW* CARES RESTART BUSINESS GRANT PROGRAM OFFERED FROM PALM BEACH COUNTY The Palm Beach County Board of County Commissioners (BCC) approved the CARES Restart Business Grants Program to accelerate the reopening of businesses hardest hit by COVID-19. The $60 million Business Restart Program uses a portion of the county's $261 million allocation from the Federal CARES Act approved by Congress. The BCC has dedicated $50 million toward businesses with 25 or fewer employees and $10 million towards businesses with greater than 25 employees. The criteria for the grant can be found at: http://pbcgov.com/hes .
Small Business Grants Available In Florida Counties
Alert For Physicians! Updated Funding Information! *New* Florida Blue Extends Care Cost Relief *New* Another possible source of funds for PBC physician practices – many commercial insurance companies are offering low-interest loans and advanced/accelerated payments of future claims to practices. *New* COVID-19 Update From Carriers Advantages of the Employee Retention Credit Payroll Tax Deferral
What We Know So Far About The New CARES 3.5 Act More COVID-19 Relief Funding on the Way for Healthcare Providers 1/5 of Primary Care Practices Could Close Within Next Month as US Mulls Reopening Economy CMS suspends Advance Payment Program
SBA Paycheck Protection Program Based upon information we have received within the last 24 hours on the SBA Paycheck Protection Program loans, we believe there is an increased need for urgency in being prepared to apply for your loan as soon as possible, if you choose to apply for the loan. On April 1, additional information was posted by Treasury for lenders and others participating in the program. The application is also posted on the Treasury site at: https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses
From Relief To Recovery: Using Federal Funds To Spur A Small Business Rebound
The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19.
These short-term, interest-free working capital loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.
The Florida Small Business Emergency Bridge Loan Program is not designed to be the primary source of assistance to affected small businesses, which is why eligibility is linked pursuit to other financial sources. Note: Loans made under this program are short-term debt loans made by the state of Florida using public funds – they are not grants. Florida Small Business Emergency Bridge Loans require repayment by the approved applicant from longer term financial resources.
Grantmaking For Nonprofits
Expansion of Medicare's Accelerated and Advance Payments Program In order to increase cash flow to providers of services and suppliers impacted by the 2019 Novel Coronavirus (COVID-19) pandemic, the Centers for Medicare & Medicaid Services (CMS) has expanded their current Accelerated and Advance Payment Program to a broader group of Medicare Part A providers and Part B suppliers. The expansion of this program is only for the duration of the public health emergency. Details on the eligibility, and the request process are outlined below. The information below reflects the passage of the CARES Act (P.L. 116-136).
Accelerated/Advance Payments An accelerated/advance payment is a payment intended to provide necessary funds when there is a disruption in claims submission and/or claims processing. These expedited payments can also be offered in circumstances such as national emergencies, or natural disasters in order to accelerate cash flow to the impacted health care providers and suppliers. CMS is authorized to provide accelerated or advance payments during the period of the public health emergency to any Medicare provider/supplier who submits a request to the appropriate Medicare Administrative Contractor (MAC) and meets the required qualifications.
Amount of Payment : Qualified providers/suppliers will be asked to request a specific amount using an Accelerated or Advance Payment Request form provided on each MAC’s website. Most providers and suppliers will be able to request up to 100% of the Medicare payment amount for a three-month period. Inpatient acute care hospitals, children’s hospitals, and certain cancer hospitals are able to request up to 100% of the Medicare payment amount for a six-month period. Critical access hospitals (CAH) can request up to 125% of their payment amount for a six-month period.
Office Of Equal Business Opportunity Home
Medicare will start accepting and processing the Accelerated/Advance Payment Requests immediately. CMS anticipates that the payments will be issued within seven days of the provider’s request. For Full Fact Sheet, Click Here.
CARES Act (Also Known As H.R. 748) There are many tax provisions for individual, joint and corporate filers in this bill to allow for increased deductions and delayed payments. Talk to your accountant.
United Way of Palm Beach County establishes Coronavirus Response Fund United Way of Palm Beach County has established a Coronavirus Response Fund to help meet community needs. United Way will work with funding partners to establish a unified approach to helping the community. Click here to learn more.
0 comments
Post a Comment