Jacksonville launches small business capital access program (Courtesy of the Jacksonville Business Journal) — The City of Jacksonville Office of Economic Development announced the newly established Small Business Capital Access Programs to support the over 66,000 small businesses in Duval County.
According to the city, the programs reinforce Jacksonville’s drive to nurture a thriving small business community across its boundary, and, in turn, uplift the local economy, encourage entrepreneurship, spur job growth and build a resilient marketplace.
With nearly one-third of the city’s businesses employing 100 people or fewer, there is a lot of room for growth.
“This initiative is a key step towards making our city a destination where small businesses thrive and aligning with the mayor’s vision of Jacksonville to become the small business capital of the Southeast,” said Jacksonville Small & Emerging Business Director Gregory Grant said in a press release
Programs offered include:
- Small Business Micro-Grant Funding Initiative that aims to provide financial support ranging from $500 to $1,000 to aspiring and emerging micro-businesses in Jacksonville.
- Small Business Low-Interest Loan Funding, which offers tiered loans ranging from $1,000 to $50,000.
- Veterans Entrepreneurship Funding that serves to support veteran micro-businesses through grants up to $2,000.
- Jacksonville Small & Emerging Business Funding, which focuses on supporting JSEB micro-businesses.
The $1 million in funding for the SBCAP program was provided by the task force budget recommended by Mayor Donna Deegan’s (pictured above) transition committees and passed by City Council as part of the 2023-2024 budget.