SBA Disaster Loans | Now Available
SBA's Business Physical Disaster Loans are the main federal assistance offered for the repair and rebuilding of non-farm, private sector disaster losses. This is the only SBA direct loan program and is not limited to small businesses.
Businesses of all sizes and private, non-profit organizations may borrow up to $2 million to repair or replace:
- Damaged or destroyed real estate.
- Machinery and equipment.
- Inventory and other business assets.
The SBA offers Economic Injury Disaster Loans (EIDL) up to $2 million to help meet working capital needs caused by the disaster for:
- Small businesses,
- Small agricultural cooperatives,
- Small businesses engaged in aquaculture, and
- Most private, non-profit organizations of all sizes.
- Description of Program
- Register Online
- Watch the 2 Minute Video
- SBA Disaster Assistance Homepage
Representatives from multiple government agencies will be available to assist at:
Carolyn Sims Center
225 NW 12th Avenue
Boynton Beach, FL 33435
Monday - Sunday | 9am - 6pm
Florida Emergency Bridge Loans | Now Available
The Florida Small Business Emergency Bridge Loan Program has been activated by the Governor of Florida as a result of Hurricane Irma.
- Amount: Between $1,000 and $25,000.
- Term: 90 or 180 days based on individual business circumstances.
- Interest: Loans will be interest-free for the loan term.
- Payments: Payments are not required during the established loan term, but loans must be paid in full by end of the loan term, otherwise penalties apply.
- Florida Diaster Loan
- Review eligibility & loan process.
- Gather required information.
- Download application form.
- Complete & submit application form (contact the Florida Small Business Development Center (SBDC) Network State Office at (850) 898-3489 for instructions).
Please Note: Applications will be accepted under this program through Oct. 31, 2017, contingent on the availability of funds, for small businesses with two (2) -100 employees established prior to Sept. 4, 2017.
|Area||6.97 square miles|
|City of Lake Worth Millage||5.4945 FY 2016/2017|
|PB County Fire/Rescue Millage||3.4581 FY 2016/2017|
|Communication Service Tax||5.22%|
|Median Age||35 years|
|Median Earnings for Workers||$21,076|
|Mean Earning for Workers||$38,373|
|State Income Tax||None|
*Bureau of Economic & Business Research | UF | April 1, 2016
Economic Development Electricity Incentive Program
The City of Lake Worth is pleased to offer a special program in order to attract jobs to Lake Worth. The Economic Development Electricity Incentive Rate Program ties a discounted rate for commercial electric to job creation within municipal boundaries.
In order to qualify for the Economic Development Electricity Incentive Rate:
- Create 10 New Full-time Jobs
- Add 150kw of New Load to Lake Worth Electrical Grid
The new discounted electrical load rate is applicable to new business establishments, commercial or industrial space that has been vacant for more than one month, and the expansion of existing establishments. The program is not available for load shifted from one location to another.
Year 1: 23.6% reduction to be credited in Year 2
Year 2: 20% reduction to be credited in Year 3
Year 3: 15% reduction to be credited in Year 4
Year 4: 10% reduction to be credited in Year 5
Year 5: 5% reduction to be credited in Year 6
Lake Worth Park of Commerce
- 313 acre site adjacent to major transportation routes
- Palm Beach County Urban Redevelopment Area
- Palm Beach County Concurrency Exception Area
- Details on Park of Commerce
- I-95 has two interchanges within the City of Lake Worth, both conveniently located adjacent to the Lake Worth Park of Commerce.
- CSX Railway borders the eastern edge of the Lake Worth Park of Commerce.
- Tri-Rail Commuter Train – serving communities from Miami to West Palm Beach – has a station within municipal boundaries and less than ½ mile from the Park of Commerce.
- FEC Railway runs through downtown Lake Worth with a proposed station in the South Florida Regional Transportation Authority’s Fast Start Program.
- Palm Beach International Airport is located less than 4 miles directly north of Lake Worth.
- Port of Palm Beach is less than 10 miles north of the Lake Worth Park of Commerce.
- Florida’s Turnpike is 5.6 miles to the west of the Park of Commerce.
- U.S. Customs and Border Protection has operations in Palm Beach County enabling faster turn-around time for products entering the United States.
City Commission Approves Benzaiten Center for the Creative Arts
The City Commission has approved a unique public/private partnership with The Living Arts Foundation, Inc. The Foundation has transformed a City-owned historic property into the Benzaiten Center for the Creative Arts.
Excellence in Economic Development | IEDC
City of Lake Worth received a Bronze Excellence in Economic Development Award for its 2014 project in the category of Special Event for communities with populations of 25,000 - 200,000 from the International Economic Development Council (IEDC).
"Economic development efforts have long been a keystone in the quest to bolster the economy and improve quality of life in every locality across the country," said Bill Sproull, IEDC chair. "As the nation continues to tackle challenges in the midst of global uncertainty, these efforts have taken on an even greater significance. With this award, we laud trend setting organizations like City of Lake Worth for leading the charge."