SWFL Bank, foundation partner on $1.2M Ian recovery loan program

While much of the recovery chatter on the west coast of Florida, for obvious reasons, is focused on Hurricanes Helene and Milton, some business, particularly on Sanibel and Captiva islands remain in struggle mode from Hurricane Ian.

The Sanibel Captiva Community Bank, in partnership with the Charitable Foundation of the Islands, seeks to help those businesses through what has been dubbed the Accelerate Small Business Loan Program, according to a statement. The program, the release states, will only be available for a limited time “and is made possible by the support of generous third-party investors committed to helping the island’s small businesses quickly return to normal operations.”

Currently, the program has $1.2 million to distribute through individual loans, with an average loan size of $100,000. The loans will have a competitive interest rate, with interest only paid in the first year and a four-year term thereafter, the release states.