Governor Ron DeSantis has activated the Florida Small Business Emergency Bridge Loan Program to support small businesses impacted by COVID-19. The application period officially opened on March 17 and runs through May 8, 2020.
The bridge loan program, managed by the Florida Department of Economic Opportunity will provide short-term, interest-free loans to small businesses that experience and are able to demonstrate economic injury as a result of COVID-19.
Florida small business owners with 2 to 100 employees located in Florida can apply for short-term loans up to $50,000. These loans are interest-free for up to one year and are designed to bridge the gap to either federal SBA loans or commercially available loans.
“As we mitigate against the spread of COVID-19, the health, safety and well-being of Floridians comes first,” said Governor DeSantis. “I understand the harm mitigation strategies will have on small businesses throughout our state. By activating the Florida Small Business Emergency Bridge Loan, we are providing the opportunity for Florida’s small businesses to receive cash immediately to ensure they can lessen the impacts felt as a result of COVID-19.”
Up to $50 million has been allocated for the program.
The Florida Department of Economic Opportunity will administer the Florida Small Business Emergency Bridge Loan Program in partnership with the Florida SBDC Network and Florida First Capital Finance Corporation to provide cash flow to businesses economically impacted by COVID-19.
For more information on the program, visit www.floridadisasterloan.org.
For questions, contact the Florida Small Business Development Center Network at 866-737-7232 or email Disaster@FloridaSBDC.org. The phone line will be answered during regular business hours; all voice mails and emails will be responded to within 24 hours.