​Does your business need money? The Department of Housing & Economic Sustainability (DHES) is open for business, offering business loans with favorable terms and low rates.
Through the Palm Beach County Business Loan Program, DHES staff continues to support a broad range of new and existing private, for-profit businesses in Palm Beach County. With partners including the Small Business Administration Certified Development Companies and local commercial banks, we regularly work with borrowers who are unable to access traditional lenders.
The Business Loan Program fills the gap between financing provided through the SBA and/or commercial lenders and a required borrower contribution. Eligible uses include real estate acquisition, construction, renovation, machinery/equipment, and working capital. Loan amounts vary based on need and the number of years of business operations. All loans are subject to underwriting and review of cash flow, collateral coverage, credit history, and tax returns.
The Business Loan Program is not emergency or bridge financing, but it is designed to increase economic activity, stimulate investments in businesses, and create jobs in Palm Beach County. Staff are regularly in communication with interested business owners and accept loan applications on an on-going basis. With a complete application package, loan can close within 60 to 90 days of underwriting approval.
If your business is in need of financial support to address the impacts of the Coronavirus (COVID-19), the following state and federal programs may be of interest:
While DHES does not administer these state and federal loan programs, our staff is able to provide basic information and links to application materials.
Please contact us today to discuss your financing needs and the Palm Beach County Business Loan Program. We are open for business!