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

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The application period is September 23rd – November 14th

The Florida Small Business Emergency Bridge Loan Program offers short-term, interest-free working capital loans designed to bridge the gap between the time a disaster strikes a business and the time a business has secured a longer-term recovery. (DEO image)

(DEO) – The Florida Small Business Emergency Bridge Loan Program offers short-term, interest-free working capital loans that are designed to “bridge the gap” between the time a disaster strikes a company and when a company has secured a longer-term recovery.

Loans up to $ 50,000 or up to $ 100,000 may be applied for per eligible applicant in special cases if justified by the company’s need and evidence.

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

Owners can obtain funding from longer-term funding such as B. Use the US Small Business Administration catastrophe loan to pay back the emergency bridging loan. Only one loan may be granted per eligible applicant.

Once all approved loans have been funded, applicants who own multiple businesses will only be able to apply for additional loans if funds are available.

The application period runs from 09/23/2020 to 11/14/2020 or until all funds have been used up.

Participation requirements:

• Your business must be in Florida

• Your company must have been founded before September 14, 2020.

• Your company must be affected by Hurricane Sally and be in one of the following eligible counties: Escambia, Okaloosa and

• Santa pink. Your business must be in Escambia, Okaloosa, or Santa Rosa Counties to be eligible.

• The company must employ between two and 100 people.

• You must have paid back any outstanding previous emergency bridging loans.

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