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Cocoa offers forgivable small business loans for minority entrepreneurs

Cocoa offers forgivable small business loans for minority entrepreneurs

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Chef's Kitchen soul food restaurant on Clearlake Road in Cocoa was the recipient of a forgivable loan through the city after owners completed business training courses and met other requirements. Their success has been a model for the future of the program

The metropolis of Cocoa introduced that it will start accepting programs for UpStart Cocoa Company Growth program, which consists of forgivable loans of up to $10,000 for tiny organizations in the city that meet up with specific needs.

Cocoa kicked off the program final yr with the goal of selling minority- and girls-owned little enterprises in the town. Previous calendar year, the initial compact organization, a soul foods restaurant, concluded all the demands and is now working properly following acquiring a $7,500 loan by the application. With Chef’s Kitchen area undertaking so well, the metropolis this year has expanded the plan to allow additional businesses—now accepting 5 community businesses into the application whilst formerly it had only been one. Two of the businesses must be found inside of Cocoa’s Diamond Sq. District, which incorporates the location bounded by Pineda Street on the west, College Road on the north, the Florida East Coast Railroad on the east, and Rosa L. Jones Drive on the south.