Small Business Loan Program

Loan program for island businesses struggling to recover from Hurricane Ian.

Program Details:

• Launch Date: Recently announced (as of October 2024)
• Availability: Limited time
• Total Fund Amount: $1.2 million available for distribution
• Average Loan Amount: $100,000
• Geographic Scope: Sanibel and Captiva Islands, Florida

Loan Terms:

• Competitive interest rates
• Interest-only payments first year
• Four-year repayment term thereafter

Eligibility:

• Island businesses impacted by Hurricane Ian
• Seeking recovery and rebuilding assistance
• Independently owned operations

Partnership: Sanibel Captiva Community Bank

Contact Information:

• Program Partner: Sanibel Captiva Community Bank
• CFI Executive Director: Dolly Farrell
• Email: info@sancapcfi.org / dfarrell@sancapcfi.org
• Phone: (239) 322-3818
• Mailing Address: P.O. Box 1429, Sanibel, FL 33957
• Website: MyCFI.org

Loan Application Process

1. Contact Sanibel Captiva Community Bank: Inquire about loan application process
2. Submit Application: Provide business information and loan request details
3. Documentation: Submit financial statements, business plan, and evidence of Hurricane Ian impacts
4. Loan Review: Bank reviews application and determines eligibility
5. Approval & Disbursement: Approved loans disbursed with agreed-upon terms

Required Documentation:

• Business registration and ownership information
• Financial statements or tax returns
• Description of hurricane-related losses
• Business recovery/rebuilding plan
• Personal financial information

Loan Features:

• Competitive interest rates
• Flexible terms: Interest-only first year, then 4-year repayment
• Individual loan structuring available