BUSINESS FINANCING · FL

Small Business Financing Guide for Volusia County, Florida

This guide helps solo contractors and small business owners in Volusia County, Florida understand their financing options — from local credit unions and CDFIs to SBA-backed loans and ITIN-friendly lenders. We focus on the local intermediaries who actually serve this community, not just federal programs. Whether you are just starting out or looking to grow, this guide explains what you need, who to call, and what red flags to watch for.

§ 01 — What it is

What Is Small Business Financing?

Small business financing is money you borrow — or sometimes receive as a grant — to start, run, or grow a business. It comes in several forms: **Term loans** give you a lump sum that you repay over a set period, usually with a fixed monthly payment. These work well for one-time purchases like equipment or a vehicle. **Lines of credit** let you draw money when you need it and pay it back as you go. They are useful for covering slow months or buying materials before a job. **Microloans** are small loans, often under $50,000, designed for very small businesses and sole proprietors who may not qualify for a traditional bank loan. **Equipment financing** uses the equipment itself as collateral, which can make approval easier. **Business grants** are funds you do not repay, but they are competitive and often tied to specific industries or demographics. Most lenders look at your credit history, how long you have been in business, your revenue, and your ability to repay. If you are newer to business or have a limited credit file, local CDFIs and microlenders — not big banks — are usually your best starting point.

§ 02 — Who qualifies

Who Qualifies? How Volusia County's Economy Shapes Your Options

Volusia County's economy is built around tourism, construction, healthcare, and a growing number of small service businesses. Daytona Beach, DeLand, Deltona, New Smyrna Beach, and Ormond Beach each have their own business communities, and the county has a significant and growing Latino population — especially in Deltona and the western parts of the county. **If you are a solo contractor or trades worker** (plumbing, electrical, landscaping, painting, roofing), you can qualify for financing even if you work under your own name rather than a corporation. Sole proprietors are welcome at most CDFIs and microlenders. **If you use an ITIN instead of a Social Security Number**, you are not excluded from financing. Several lenders in and near Volusia County specifically accept ITIN borrowers. You will need to show consistent income — tax returns, bank statements, or both. **If your business is newer than two years**, traditional banks may decline you. Microloans and CDFI programs have more flexible guidelines for startups. **If your personal credit score is below 650**, you are not out of options. Some microlenders focus more on your business plan and cash flow than your credit score. The tourism and construction sectors in Volusia County mean that seasonal income is common. Many local lenders understand this and can work with you even if your income varies month to month.

§ 03 — What you need

Documents You Will Typically Need

Every lender is a little different, but most will ask for some combination of the following. Gathering these before you apply will save you time. **For all applicants:** - Government-issued photo ID (driver's license, passport, or consular ID) - ITIN or Social Security Number - Most recent 2 years of personal tax returns (federal Form 1040) - Most recent 2–3 months of personal bank statements **For your business:** - Most recent 2 years of business tax returns (if you have been open that long) - Most recent 3–6 months of business bank statements - Profit and loss statement (a simple income and expense summary works for many microlenders) - Business license or registration with the State of Florida (if applicable) - Any contracts, invoices, or purchase orders that show upcoming work **For startups:** - A simple business plan (one to two pages is fine for most microlenders) - Projected income and expenses for the next 12 months - Explanation of how you will use the funds **For ITIN applicants:** - ITIN letter from the IRS - Additional proof of consistent income may be requested If you are missing some of these, do not let that stop you from reaching out to a local CDFI or credit union. They often help you get your paperwork in order before you formally apply.

§ 04 — Where to start in Volusia County

Local Lenders, CDFIs, and Resources That Serve Volusia County

These are the local and regional organizations most likely to actually help small business owners in Volusia County. Origen Capital is a directory — we do not lend money — but we want you to know exactly who to call. **Community Development Financial Institutions (CDFIs) and Microlenders** - **Prospera** (formerly FSBDC at UCF / Hispanic Business Initiative Fund) — Prospera is one of Florida's most important CDFI resources for Latino entrepreneurs. They offer microloans, technical assistance, and business coaching in both English and Spanish. They serve Volusia County and have strong ties to Central Florida's Hispanic business community. Website: prosperausa.org - **Community Reinvestment Alliance of South Florida / Florida CDFI Coalition members** — Several CDFI members active in Central and East Florida can serve Volusia County businesses. Ask Prospera or your local SBDC for referrals to active lenders in your area. - **SCORE Volusia County Chapter** — SCORE offers free mentoring from retired business professionals. They are not a lender, but they can help you build a business plan, clean up your financials, and identify the right loan programs. They connect closely with the local SBA office. Website: score.org/chapter/score-volusia **SBA District Office** - **SBA North Florida District Office (Jacksonville)** — Volusia County falls under this SBA district. SBA does not lend directly to businesses; instead, it guarantees loans made by approved local lenders. SBA 7(a) loans (up to $5 million) and SBA Microloans (up to $50,000 through nonprofit intermediaries) are the most relevant programs. Contact them to find approved SBA lenders serving Volusia County. Phone: (904) 443-1900 - **Florida SBDC at Daytona State College** — This is the most important local resource in Volusia County for small business owners. The Florida Small Business Development Center (SBDC) at Daytona State College offers free one-on-one consulting, help with loan applications, financial analysis, and connections to lenders. They serve all of Volusia County. Phone: (386) 506-4723. Website: sbdc.daytonastate.edu **Local Credit Unions** - **Fairwinds Credit Union** — Based in Orlando and serving Central Florida including Volusia County, Fairwinds offers small business loans, lines of credit, and equipment financing with a community-focused approach. Website: fairwinds.org - **Addition Financial Credit Union** — Serves Volusia County and the broader Central Florida region with small business accounts and lending products. Website: additionfi.com - **Achieva Credit Union** — Another regional credit union with Florida roots that offers small business financing and is worth a conversation if you are in the western parts of the county. **ITIN-Friendly Lenders** - **Prospera** explicitly works with ITIN holders and immigrant entrepreneurs. They are your first call if you do not have a Social Security Number. - Some credit unions in Florida accept ITIN for membership and lending — call Addition Financial or Fairwinds directly and ask about their ITIN policy before assuming you do not qualify. - **Accion Opportunity Fund** (national CDFI with Florida reach) also accepts ITIN applicants for microloans and small business loans. Website: accionopportunityfund.org **Volusia County and City Programs** - **Volusia County Economic Development** — The county's economic development office periodically runs or promotes local grant programs, revolving loan funds, and incentive programs, especially in targeted areas. Check their current listings at business.volusia.org. - **City of Daytona Beach Community Redevelopment Agency (CRA)** — The Daytona Beach CRA offers façade improvement grants and small business assistance programs for businesses in designated redevelopment areas. Worth a call if your business is located in or near a CRA zone. - **City of Deltona** and **City of DeLand** also have local economic development contacts who can point you toward any active local programs.

§ 05 — What to avoid

Florida-Specific Regulatory Notes

Florida has its own rules that affect small business financing. Here are the most important ones for Volusia County business owners. **Business Registration** Florida requires most businesses to register with the Florida Division of Corporations (sunbiz.org). A sole proprietorship operating under your own legal name may not need to register, but if you use a business name (a DBA — 'doing business as'), you will need to register it. Having a registered business strengthens your loan application significantly. **Contractor Licensing** If you do construction, electrical, plumbing, HVAC, or other trades work in Florida, you may need a state-issued contractor license from the Florida Department of Business and Professional Regulation (DBPR) or a Volusia County local license. Lenders will often ask for this. Operating without a required license can disqualify you from certain programs. **Florida's Commercial Lending Disclosure Law (SB 1346 / Effective 2023)** Florida passed a commercial financing disclosure law that requires certain non-bank lenders — including merchant cash advance companies — to give you a written disclosure of the total repayment amount, the annual percentage rate equivalent, and all fees before you sign. If a lender cannot or will not give you this disclosure in writing, walk away. **No State Income Tax** Florida has no personal state income tax, which simplifies your tax picture compared to many other states. However, you still owe federal self-employment taxes and may owe Florida sales tax if your business sells taxable goods or certain services. **Florida Small Business Emergency Bridge Loan Program** In the event of a declared state emergency (hurricane, etc.), Florida activates an emergency bridge loan program through the Florida Department of Economic Opportunity. These are interest-free short-term loans. Keep this program in mind if a storm affects your business — it moves fast and closes quickly once activated.

§ 06 — Ask a question

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