There are many options for financing your business. Two of the most common are conventional and Small Business Administration (SBA) loans. In some cases, borrowers apply for a conventional loan, but don’t meet the lender’s criteria. When that happens, it doesn’t mean the borrower can’t obtain financing, it just means the borrower needs an alternative source of financing.
Bank of Central Florida is aware of the impact COVID-19 has had on local businesses. To help meet the growing need of an SBA 7(a) lending program, Bank of Central Florida has brought on Kevin Riffey to lead the development efforts.
A Tampa Bay native, Lauren Fernandez has joined Bank of Central Florida in their Vision 2025 initiative. The goal of the initiative is for the bank to see growth and expansion in Central Florida over the next five years. Hiring Lauren is the next step in seeing that goal realized.
A wise banker once said, "Profits don't pay loans back – cash does." While that comment is somewhat cryptic, it does make a point. Namely, that profits result from an accounting formula that often includes accruals, depreciation, and other items that do not change a company's cash position. On the other hand, cash flow is truly what a company has available on any given day or month to meet its obligations.
What a journey these past six months have been as we have navigated together the updates and processes around PPP to support you and your business. Our Bankers strive to listen and understand the questions you have and, in doing so, relay what information will best serve you. Please find information below in regards to PPP.
Bank of Central Florida is an approved SBA lender for the PPP loans as outlined in the CARES Act.
5015 South Florida Ave.,
Lakeland, FL 33813
724 South Florida Ave.,
Lakeland, FL 33801
1000 Legion Place, Suite 1200
Orlando, FL 32801
Your privacy is very important to us. We would like to advise you that Internet email is not secure. Please do not submit any information that you consider confidential. We recommend you do not include your social security or account number or other specific identifying information.
You are leaving Bank of Central Florida's Web site and linking to a third party site. Please be advised that you will then link to a Web site hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Central Florida. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Bank of Central Florida assumes no liability for the content, information, security, policies or transactions provided by these other sites.