Florida Small Business Emergency Bridge Loans
The application period for the recently activated Florida Small Business Emergency Bridge Loan program is open for companies whose cash flows have been negatively impacted by the COVID-19 pandemic.
With both local and national governments placing restrictions on gatherings, and even implementing curfews in an effort to stop the spread of the novel coronavirus, small businesses across sectors including hospitality, retail, transportation and logistics
have experienced steep drops in sales in recent days.
But through May 8, small business owners with two to 100 employees can apply for the short-term interest-free loans of up to $50,000. Up to $50 million has been allocated for the program, according to an announcement from Gov. Ron DeSantis.
qualify, businesses must have been established before March 9 and be able to demonstrate the impact that the coronavirus has had on their cash flows.
The Florida Department of Economic Opportunity (DEO) will administer the loans in partnership with the Florida Small Business Development Center (SBDC) Network and Florida First Capital Finance
Corp. The loans are interest-free for up to one year and designed to bridge the gap in either federal U.S. Small Business Administration loans or commercially available loans.
The Florida Business Loan Fund provides financing to assist businesses with resiliency efforts. The funds will address the current gap in available, affordable capital for businesses that can be used for inventory purchases, construction, working capital, equipment financing
For inquiries, please contact the Florida Department of Economic Opportunity toll-free at (833) 832-4494 or by email at FloridaBusinessLoanFund@deo.myflorida.com.
Businesses with questions about the program can email disaster@FloridaSBDC.org or call (866) 737-7232.
The DEO is surveying Florida businesses that have been impacted by the coronavirus at FloridaDisaster.biz.