Florida Accepting Applications for Small Business Emergency Loans

Florida Accepting Applications for Small Business Emergency Loans

The Florida Small Business Emergency Bridge Loan program is accepting applications for all Florida counties statewide per Executive Order 20-52 for businesses negatively impacted by the coronavirus (COVID-19). With an emergency declaration in place, bars and restaurants closing, and steep drops in sales, small businesses across sectors are facing very uncertain times.

From now until May 8, small business owners with two to 100 employees can apply for loans of up to $50,000. Up to $50 million has been allocated for the program, according to Governor Ron DeSantis.

These loans are short-term debt loans made by the state of Florida using public funds. Since they are not grants, Florida Small Business Emergency Bridge Loans require repayment by the approved applicant and the loan will remain interest-free for the term of one year.

To 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. Visit https://floridadisasterloan.org/ to learn more.