Funding Programs through the Center for Business Innovation and Development

The Center for Business Innovation and Development (BID) assists existing businesses, as well as new entrepreneurs, in securing the financing they are otherwise unable to secure through traditional channels. The primary goal of BID is to create new jobs or retain existing jobs. Preference is given to businesses that will add full-time skilled or semi-skilled positions. The source of funding is the Federal Economic Development Administration (EDA). Some specific guidelines may apply. GACN welcomes partnering with other lenders to assist local businesses to succeed and thrive.

Micro-Enterprise Loan Program

Financing for startup and small businesses that need capital to launch or grow a business. This program provides loans of up to $30,000 for working capital, equipment, inventory, and leasehold improvements.

POWER Grants

Small businesses located in the United States that are facing financial hardship due to the impact of COVID-19 are eligible to apply for POWER grants up to $5,000.

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COVID-19 Small Business Support Fund

The COVID-19 outbreak has affected small businesses across Central Florida. In response to this, GACN created the COVID-19 Small Business Support Fund. The fund will assist in mitigating the COVID-19 economic impact, and help small businesses stabilize in the face of these uncertain economic times.

Recovery Loan
  • Loan Amount: Up to $75,000
  • Interest Rate: 0% for the first year, 2% for the balance of loan term
  • Deferral Period: Up to 1 year
  • Length of Loan: 7 years
  • Fees: None
Emergency Loan
  • Loan Amount: Up to $15,000
  • Interest Rate: 0%
  • Deferral Period: Up to 6 months
  • Length of Loan: 3 years
  • Fees: None

GACN Loan Fund

The GACN Loan Program, is a pilot program designed to stimulate the growth of new and existing businesses in underserved communities across the United States. The program will provide below market-rate financing to small businesses that are unable to secure a loan through traditional bank financing.

This fund is still in development and more information is coming soon.

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Join GACN and be the first to know when new funding opportunities are available.

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