Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19. These short-term, interest-free working capital loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer-term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.
- Designated Disaster Areas: All Florida counties statewide per Executive Order 20-52.
- Qualified Applicant: Applications will be accepted by qualified for-profit, privately held small businesses that maintain a place of business in the state of Florida. All qualified applicants must have been established prior to March 9, 2020, and suffered economic injury as a result of the designated disaster. Qualified small business applicants must be an employer business with 2 to 100 employees.
- Amount: Up to $50,000 per eligible small business. Loans of up to $100,000 may be made in special cases as warranted by the need of the eligible small business.
- Term: 1 year.
- Limitation: Only one loan may be made per eligible business. All previous bridge loans received MUST be paid in full.
- Interest Rate: Loans will be interest-free for the loan term (1 year). The Interest rate will be 12% per annum on the unpaid balance thereafter until the loan balance is repaid in full. Loan default is subject to a normal commercial collection process.
- Application Period: Applications will be accepted by qualified Florida small businesses under this program through May 8, 2020, contingent on the availability of funds.
To Get Started:
- Review eligibility requirements and loan process.
- Download, complete and sign the application form.
- Gather required support documentation.
- Submit completed and signed application and support documentation to the Florida SBDC at USF or one of its subcenters.
How Do I Submit My Documentation and Completed Application Remotely?
- Email completed documents to USF@floridasbdc.org.
- Mail hard copies to: Florida SBDC Network Headquarters, C/O Florida Emergency Bridge Loan Process, 220 West Garden Street, Suite 301, Pensacola, FL 32502
- Fax 850-696-2693
For additional information or questions, please contact Javier Marin at email@example.com.