Florida’s Small Business Emergency Bridge Loan Program is now live to offer relief to small businesses impacted by COVID-19. These short-term, interest-free working capital loans are intended to “bridge the gap” in an emergency until a business has secured longer-term recovery resources.
Review requirements and apply today: floridadisasterloan.org/
- 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.
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 866-737-7232 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.