Business financing in Brevard County.

Business financing is money you borrow or receive to start, run, or grow a business. It is not the same as a personal loan, and it usually comes with terms tied to your business's income, history, and assets.

The most common types you will encounter in Brevard County include:

• **Term loans** — You borrow a lump sum and repay it in fixed monthly payments over a set period. Good for equipment, vehicles, or renovation.

• **Lines of credit** — A revolving credit limit you draw from as needed. Good for cash flow gaps between jobs or invoices.

• **SBA loans** — Loans made by local banks or credit unions and partially guaranteed by the U.S. Small Business Administration. Lower rates, longer terms, but more paperwork.

• **Microloans** — Smaller loans (typically under $50,000) offered by CDFIs and nonprofit lenders. Often available to borrowers with limited credit history.

• **Equipment financing** — The equipment itself serves as collateral, which can make approval easier.

• **Invoice financing** — You advance cash against unpaid invoices. Common in construction and contracting.

None of these require you to be a corporation. Sole proprietors, LLCs, and even informal operations can qualify for some of these — especially through local and mission-driven lenders.

Brevard County's economy is more diverse than most people expect. Kennedy Space Center and the aerospace corridor employ tens of thousands, but the county also has a large construction and trades workforce, a growing healthcare sector, active fishing and agriculture near Mims and Micco, and a strong tourism economy along the coast from Cocoa Beach to Melbourne Beach.

If you work in any of these sectors as a small business owner or solo contractor, you likely qualify for at least one local financing product. Here is what most local lenders look at:

• **Time in business** — Many lenders want 6–24 months of business history. Some CDFI microlenders will work with startups.

• **Credit score** — Conventional lenders typically want 650+. CDFIs and ITIN lenders may work with scores as low as 550, or use alternative credit history (rent, utilities, phone bills).

• **Revenue** — Most lenders want to see consistent monthly revenue. Bank statements are often more important than tax returns for smaller loans.

• **ITIN vs. SSN** — If you do not have a Social Security Number, you can still qualify with an Individual Taxpayer Identification Number (ITIN) through select lenders. This is a real option in Brevard County — not a workaround.

• **Collateral** — Not always required, especially for microloans or SBA 7(a) loans under certain thresholds.

If you are a contractor in construction, landscaping, cleaning, or roofing — sectors that fluctuate seasonally in Brevard — lenders who understand seasonal cash flow will serve you better than those who do not.

Gathering your documents before you apply saves time and avoids delays. Every lender is different, but here is a standard list for Brevard County small business applicants:

**For all applicants:**

• Government-issued photo ID (driver's license, passport, or consular ID)

• ITIN or SSN

• Business bank statements — last 3 to 12 months

• Proof of business address (utility bill, lease agreement, or county business tax receipt)

• Basic business description — what you do, how long you have operated, how many employees

**For established businesses:**

• Last 1–2 years of business tax returns (or personal returns if you file as a sole proprietor)

• Profit and loss statement (your lender or a bookkeeper can help you prepare this)

• Accounts receivable or outstanding invoices, if applicable

**For SBA loans specifically:**

• Personal financial statement (SBA Form 413)

• Business plan or cash flow projection (your local SCORE chapter can help with this for free)

• List of collateral if the loan amount is over $25,000

**If you are a startup:**

• A simple business plan

• Personal bank statements (last 3–6 months)

• Any contracts or letters of intent from future clients

Tip: Brevard County requires most businesses to hold a local Business Tax Receipt (formerly called an Occupational License). Having this on hand shows lenders you are operating legitimately.