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Emergency Bridge Loan Program Activated For Small Businesses Impacted By Hurricane Sally
September 24, 2020
Governor Ron DeSantis has activated the Florida Small Business Emergency Bridge Loan program to support small businesses impacted by Hurricane Sally.
The Florida Department of Economic Opportunity (DEO) administers the Emergency Bridge Loan program that provides short-term, zero-interest loans to small businesses that experienced physical damage or economic injury during Hurricane Sally. The application period is now open and runs through November 14 or until the available funds are expended.
“The intense wind, rain and flooding from Hurricane Sally has led to extensive damage in Northwest Florida,” said Governor DeSantis. “We are working diligently to help these communities recover and I encourage affected small business owners to apply for the Florida Small Business Emergency Bridge Loan to assist them with necessary funding to rebuild.”
DEO administers the Florida Small Business Emergency Bridge Loan program in partnership with the Florida Small Business Development Centers (SBDC) Network and Florida First Capital Finance Corporation to provide cash flow to businesses damaged by a disaster. The short-term, zero-interest loans help bridge the gap between the time damage is incurred and when long-term funding is secured, including Small Business Administration or commercially available loans, insurance claims or other resources. Up to $5 million has been allocated for the program.
Small business owners with two to 100 employees located in Escambia, Okaloosa and Santa Rosa counties affected by Hurricane Sally can apply for short-term loans up to $50,000, or in special cases $100,000, if warranted by the needs of the business.
DEO is currently surveying businesses in the affected counties through the Florida Business Damage Assessment Survey. To access the survey, please visit www.FloridaDisaster.biz and select “Hurricane Sally” from the dropdown menu. Response to the damage assessment is not an application for the Florida Small Business Emergency Bridge Loan.
To apply or to learn more about the eligibility requirements for the Florida Small Business Emergency Bridge Loan, visit www.FloridaJobs.org/EBL.
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