Announcing Accelerate: - small business loan program

The Charitable Foundation of the Islands, in partnership with Sanibel Captiva Community Bank, is pleased to announce the launch of a time-limited loan program for small businesses on the islands of Captiva and Sanibel. This partnership is made possible by third-party investors who love our islands and wish to see the small businesses return to normal operations as quickly as possible following Hurricane Ian.

Currently, $1.2M is available for lending.

Loan Criteria Includes:

  • The businesses were established and profitable before Hurricane Ian.

  • Businesses open on Sanibel or Captiva before Hurricane Ian- September 28, 2022.

  • Retailers, Services, and Others will be considered.

    • Accommodations, restaurants, and other hospitality-based businesses will not be considered in this round of funding.

  • Preference will be given to businesses that meet a critical need for Island recovery and resident and guest requests (such as a pharmacy, dry cleaner, mechanic, etc.)

Loan Terms

  • Amount determined based on need, average of $100,0000.

  • Competitive interest rate.

  • First-year interest only, four-year term thereafter.

Process

  • Email Accelerate@sancapcfi.org indicating your interest and requesting an application. Please include a phone number.

  • A pre-screening call will be scheduled. Those qualified applicants will be emailed a secure link to upload a completed application and supporting documents.

  • A community investment advisory committee will review an executive summary of your completed loan application and recommend whether the application will be moved to a secondary review.

  • The investor and Bank will review the application and determine whether a loan will be issued. Both entities reserve the right to deny the loan at any time.

 Questions?

Call 239-322-3818 and select option 3 for Small Business Inquiries or Email Accelerate@sancapcfi.org