Florida Department of Economic Opportunity Small Business Emergency Bridge Loan Now Activated

By  //  September 30, 2020

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application period is September 23 - November 14

The Florida Small Business Emergency Bridge Loan Program provides short-term, zero-interest working capital loans that are intended to “bridge the gap” between the time a disaster impacts a business and when a business has secured longer-term recovery. (DEO image)

(DEO) – The Florida Small Business Emergency Bridge Loan Program provides short-term, zero-interest working capital loans that are intended to “bridge the gap” between the time a disaster impacts a business and when a business has secured longer-term recovery.

Loans up to $50,000, or up to $100,000 may be requested in special cases as warranted by the need and evidence of the business, per eligible applicant.

Loans made under this program are short-term, personal loans using State of Florida funds – they are not grants and must be repaid. Florida Small Business Emergency Bridge Loans require repayment by the approved applicant.

Owners may utilize funding from longer-term financial resources, such as U.S. Small Business Administration economic injury disaster loans, to repay the Emergency Bridge Loan. Only one loan may be made per eligible applicant.

Once all approved loans have been funded, applicants that own multiple businesses may apply for additional loans only if funds are available.

The application period is September 23, 2020, through November 14, 2020, or until all funds have been expended.

Eligibility requirements:

• Your business must be located in Florida

• Your business must have been established prior to September 14, 2020.

• Your business must be impacted by Hurricane Sally and be located in one of the following eligible counties: Escambia, Okaloosa and

• Santa Rosa. Your business must be located in Escambia, Okaloosa or Santa Rosa county to be eligible.

• The business must employ two to 100 employees.

• You must have repaid all outstanding previous Emergency Bridge Loans.

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