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Emergency Bridge Loan Program for Florida small businesses activated

Small Business Saturday a success for businesses
Posted at 1:25 PM, Mar 17, 2020
and last updated 2020-03-17 13:27:04-04

Florida Governor Ron DeSantis activated the Florida Small Business Emergency Bridge Loan Program on Tuesday, March 17, 2020.

The bridge loan program, managed by the Florida Department of Economic Opportunity will provide short-term, interest-free loans to small businesses that experienced economic hardships due to COVID-19.

The application period began today and runs through May 8, 2020.

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"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.

Florida small business owners with two to 100 employees affected by COVID-19 can apply for short-term loans up to $50,000.

The loans are interest-free for up to one year and are designed to bridge the gap between the time a major catastrophe hits and when a business has secured longer term recovery resources.

For information on the program, visit floridadisasterloan.org, call the Florida Small Business Development Center Network at 866-737-7232 or email Disaster@FloridaSBDC.org.