New Microloan Program Now Available

Posted on: October 24, 2013

The Ocala / Marion County Chamber and Economic Partnership (CEP) has unveiled a new microloan program to provide startup and existing small-businesses in the region with a needed source of financing. The Ocala Area Microloan Fund (OAMF) will make loans ranging from $1,000 to $50,000. Eligible uses of the funding include working capital and purchases of equipment, inventory and supplies.

“This program is meant to complement existing finance options in the community,” said Kevin Sheilley, President & CEO of the CEP. “For loan applications over $7,500, a bank denial letter is required. Applicants will also be considered with lower credit scores and/or less financial history than our local banks are accustomed to serving.”

Ryan Lilly, Director of Business Creation at the CEP commented, “Access to capital consistently remains one of the top challenges experienced by entrepreneurs and expanding small businesses. This microloan program will fill an important lending gap in Marion County – and facilitate job creation moving forward.”

To learn more about the microloan program or to schedule a meeting to discuss eligibility and application requirements, contact Ryan Lilly or call 352-484-1776.

The Ocala/Marion County Chamber and Economic Partnership (CEP) was created to be a one-stop hub for the community’s business attraction, creation and retention efforts. The CEP’s mission is to be THE catalyst for a prosperous community. The CEP will drive community transformation and strengthen business through an aggressive and forward looking approach. The CEP will bring together all economic development forces to ensure that Marion County will be a vibrant community with a stable, diversified economy.

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