State Activates Small Business Emergency Bridge Loan Program
Florida has activated its Small Business Emergency Bridge Loan Program to support small businesses impacted by COVID-19. The bridge loan program, managed by the Florida Department of Economic Opportunity (DEO), will provide short-term, interest-free loans to small businesses that experience economic injury from COVID-19; the application period runs through May 8, 2020. The DEO will administer the loan program in partnership with the Florida SBDC Network and Florida First Capital Finance Corporation; the short-term, interest-free loans of up to $50,000 help bridge the gap between the time the economic impact occurred and when a business secures other financial resources, including payment of insurance claims or longer-term Small Business Administration (SBA) loans. Up to $50 million has been allocated for the program. For more information on the program, visit www.floridadisasterloan.org.