Ep: 177 | Boosting Small Businesses: Exploring the Small Business Credit Initiative with DEO Secretary Ivey | FSBDC Day at the Capitol Series

In this episode of Small Biz Florida, the podcast that covers all things business in the state of Florida, Tom sits with Meredith Ivey, the Secretary of the Department of Economic Opportunity (DEO), for a discussion on the State Small Business Credit Initiative (SSBCI) and how it is helping small businesses in Florida. The DEO is a partner of the Florida Small Business Development Center (SBDC), and Secretary Ivey explains the mission of the agency and its three major programmatic divisions.

The focus of the episode is on the SSBCI, a program that provides millions of dollars in funds for small business owners in the state of Florida. Secretary Ivey shares details about the program, including the $142 million currently available and the partnerships with lenders and financing institutions. The program offers bridge loans and capital to small businesses, including sole proprietors and entrepreneurs who may have difficulty obtaining traditional loans through federal or commercial programs.

Secretary Ivey also discusses the partnerships with organizations such as SBDC to create awareness of the program and provide technical assistance to small business owners. She highlights the importance of education and outreach in ensuring that eligible small businesses, including minority, veteran, and women-owned businesses, as well as small and rural businesses, are aware of the program and can negotiate loans directly with their local lenders.

Throughout the episode, Tom and Secretary Ivey emphasize the importance of supporting small businesses in Florida, especially during these challenging times. They discuss the DEO's commitment to economic development and the partnerships with organizations like SBDC to help small businesses thrive and grow in the state of Florida.

-Learn more about DEO - https://www.floridajobs.org/ 

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