The Florida Recycling Loan Program was created to provide access to capital for the purchase of equipment and machinery to expand recycling capacity in Florida. The program offers long-term fixed-rate loans at interest rates up to 2% below prime. The maximum loan amount is $200,000. The program is limited to for-profit small businesses that are either legally licensed and operating in Florida, creditworthy start-up companies or out-of-state firms considering expansions into Florida. Eligible recycling companies must have a net worth less than $6 million and have less than 100 employees.

Since its inception in 1995, the Recycling Loan Program has entered into 27 loans totaling over $3.9 million. The equipment purchased ranged from extruders and conveyors to tub grinders and crushers.

For more information or a pre-application, contact Florida First Capital Finance Corporation at 1711 S. Gadsden St., Tallahassee, Fl 32301. Phone: 850-681-3601. Email: ffcfc@ibm.net

Recycling Loan Program Documents

Sales Tax Exemption

Resource recovery equipment is exempt from sales tax when it is owned and operated by or on behalf of any county or municipality, certified by the Florida Department of Environmental Protection. For more information, contact DEP at 850-245-8712.

Other Programs

Locating capital to establish or expand recycling collection, processing and manufacturing operations is a high priority.

The Small Business Administration (SBA) provides financial, technical and management assistance to help Americans start, run and grow their businesses. SBA is the nation's largest single financial backer of small businesses. The SBA 504 Program offers subordinated mortgage financing to healthy and expanding eligible commercial and industrial businesses. Funds can be used only for land, buildings and long-term assets.

The Sustainable Jobs Fund (SJF) is a community development fund that will make investments in growth enterprises that create quality jobs in economically distressed neighborhoods. SJF's strategic focus is on recycling, remanufacturing, environmental and other sectors that are uniquely suited to generating employment for former welfare recipients and low-income individuals. Businesses in these sectors have a demonstrated ability to profitably expand inner city facilities if provided with risk capital for growth.

The Southeastern Recycling Investment Forum offers expanding recycling companies the opportunity to present their business plans to private investors, venture capitalists, bankers, economic developers and recycling officials. -->

The Business and Industry (B&I) Guaranteed Loan Program helps create jobs and stimulates rural economies by providing financial backing for rural businesses.

Last Modified: Tuesday, Sep 03, 2024 - 03:15pm