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LAUDERDALE LAKES: The City of Lauderdale Lakes Community Redevelopment Agency recently launched the Micro Business Loan Program. The focus of the program is to create business growth opportunities within the CRA District. The application and guidelines are available online only. The link is http://www.lauderdalelakes.org/433/CRA-Micro-Business-Loan-Program.
The City of Lauderdale Lakes Community Redevelopment Agency (CRA) has established a Micro Business Loan Program to assist businesses that operate within the designated CRA area. The Micro Business Loan Program is designed to support job growth and expansion opportunities. Eligible business owners in the Community Redevelopment Agency area can apply to receive up to $7,500 primarily for equipment, machinery and/or promotional material. This year, the CRA Board increased program funding. Complete applications and other required documents must be returned to the Community Redevelopment Agency no later than Thursday, May 25, 2017 by 12 Noon.
“Not having access to capital is oftentimes one of the obstacles that stifles the growth of a business. The Community Redevelopment Agency Micro Business Loan Program is the catalyst that provides financing and other resources to help our businesses to be successful” said CRA Representative. As part of the program, there is a mandatory one on one counseling session. “We understand that financing is not the end all to success. The Micro Business Loan Program includes a holistic approach to assess the entire business operation and identify solutions to challenges” said CRA Representative. Last year, this added support helped loan recipients to generate new customers, secure new contracts, operate more efficiently and create employment opportunities.
The Micro Business Loan Program is one of many examples that shows the important role that the City of Lauderdale Lakes Community Redevelopment Agency plays in creating business opportunities at every turn. The Community Redevelopment Agency will continue to offer a toolbox of incentives and resources to stimulate growth and investment in the CRA District.
For more information on the City of Lauderdale Lakes, please contact the Economic Development Manager at 954.535.2491.