Low-Interest Business Loans for Temple Terrace

The greater Tampa area has the welcome mat out for small business owners.

Just what does that mean? There are organizations specializing in helping very small businesses get started and grow, like Tampa Bay Prosthetics on North Armenia Avenue. (See below.)

Here is a sampling of some of the better-established programs:

• The Tampa Bay Economic Development Corp., or TEDCO, offers U.S. Small Business Administration Loan products that address specific challenges. This may include help with buying real estate or equipment. Recipients include Tampa Bay Prosthetics, at 5109 North Armenia Ave., and Westchase Veterinary Practice. For more information, contact E. J. McCargar or Stephen Lane at Tampa Bay Economic Development Corporation, 2907 W. Bay to Bay Blvd., Suite 303
  Tampa, FL 33629. Phone 813-831-8600.

• The Small Business Development Center offers services for growth and emerging businesses that include consultation and low-interes loans. Through its Growth Acceleration Services, a consultant works with qualifying businesses. Companies must be at least three years old and have a minimum of $500,000 in sales to qualify for the application process. Applications are filled out online. The University of South Florida in Tampa received a grant in February from Wells Fargo for $50,000 to expand its Growth Acceleration Services in Tampa, according to USF.

• The Woman/Minority Loan Fund Program serves the Tampa Bay area, helping entrepreneurs whose businesses are 51 percent owned by women and/or minorities. The minimum loan size is $10,000. The loans are offered through the Tampa Bay Economic Development Corporation. Candidates will need to fill out:

1.) Loan Application

2.) Personal Financial Statement

3.) Resume

4.) Personal History Form

• If you want more information, the federal SBA, which offers low-interest loans, is a good place to start with online resources for its Florida chapter.