Emergency Bridge Loan Program
Sep 13, 2017
TALLAHASSEE, Fla. – Today, Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan Program to support small businesses impacted by Hurricane Irma. The bridge loan program, managed by the Florida Department of Economic Opportunity (DEO), will provide short-term, interest-free loans to small businesses that experienced physical or economic damage during the storm. The application period is from today through Oct. 31, 2017.
DEO administers the Florida Small Business Emergency Bridge Loan Program in partnership with the Florida SBDC Network to provide cash flow to businesses damaged by a disaster. The short-term, interest-free loans help bridge the gap between the time damage is incurred and when a business secures other financial resources, including payment of insurance claims or longer-term Small Business Administration loans. Up to $10 million has been allocated for the program.
DEO is currently surveying businesses in the affected counties. To access the business survey, please go to http://flvbeoc.org/index.php?a
Small business owners with two to 100 employees located in any of Florida’s 67 counties affected by Hurricane Irma can apply for short-term loans up to $25,000. These interest-free loans are granted in terms of 90 or 180 days. To be eligible, a business must have been established prior to Sept. 4, 2017, and demonstrate economic injury or physical damage as a result of Hurricane Irma.
To complete an application by the Oct. 31, 2017, deadline, or for more information on the program, visit www.floridadisasterloan.org. For questions regarding the Emergency Bridge Loan Program, contact the Florida Small Business Development Center Network at 850-898-3489 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.
The short-term Florida Disaster Business Bridge Loan is typically used until an SBA Loan or insurance reimbursement arrives.
Low interest disaster loans from the U.S. Small Business Administration (SBA) for individuals, businesses and non-profit organizations are also available. The loans can be used for loss and damages not fully covered by insurance. To apply for SBA DISASTER LOAN ASSISTANCE: https://disasterloan.sba.gov/e