Small Business Emergency Bridge Loan

The Florida Small Business Emergency Bridge Loan Program was activated by Gov. Rick Scott on October 12, 2018, to support the recovery of Florida businesses impacted by Hurricane Michael.

This interest-free loan program is currently available to small business owners located in designated disaster areas that experienced physical and/or economic damage as a result of these events. Small business owners can qualify for up to $50,000 per eligible business.

The Small Business Emergency Bridge Loan Program supports businesses impacted by disaster by providing short-term, interest-free loans to small businesses that experienced physical or economic damage during the storm. The program bridges the gap between the time a major catastrophe hits and when a business has secured longer-term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.

 

Hurricane Michael Loan Details

Designated Disaster Areas: Alachua, Baker, Bay, Bradford, Calhoun, Citrus, Columbia, Dixie, Escambia, Franklin, Gadsden, Gilchrist, Gulf, Hamilton, Hernando, Hillsborough, Holmes, Jackson, Jefferson, Lafayette, Leon, Levy, Liberty, Madison, Manatee, Okaloosa, Pasco, Pinellas, Santa Rosa, Suwanee, Taylor, Union, Wakulla, Walton and Washington counties.

Qualified Applicant: Applications will be accepted by qualified for-profit, privately held small businesses that maintain a place of business in the state of Florida.  All qualified applicants must have been established prior to October 7, 2018, for Hurricane Michael and suffered physical damage and/or economic injury as a result of the designated disaster. Qualified small business applicants must be an employer with a maximum of 100 employees.

Amount: Between $1,000 and $50,000. Loans of up to $100,000 may be made in special cases as warranted by the need of the business.

Term: 1 year

Interest: Loans will be interest free for the term of the loan (1 year). Interest rate will be 12% per annum on the unpaid balance thereafter, until the loan balance is repaid in full.

Payments: Payments are not required during the established loan term, but loans must be paid in full by end of the loan term.

Application Period: Applications will be accepted from qualified Florida small businesses under this program through December 7, 2018 for Hurricane Michael, contingent on availability of funds.

 

Red Tide Loan Details

Designated Disaster Areas: Broward, Brevard, Charlotte, Collier, Hillsborough, Indian River, Lee, Manatee, Martin, Miami-Dade, Palm Beach, Pinellas, Sarasota and St. Lucie counties.

Qualified Applicant: Applications will be accepted by qualified for-profit, privately held small businesses that maintain a place of business in the state of Florida.  All qualified applicants must have been established prior to August 13, 2018 and suffered physical damage and/or economic injury as a result of the designated disaster.  Qualified small business applicants must be an employer business with a minimum of two (2) and maximum of one hundred (100) employees.

Amount: Between $1,000 and $50,000.

Term: 180 days.

Interest: Loans will be interest free for the term of the loan (180 days). Interest rate will be 18% per annum on the unpaid balance thereafter, until the loan balance is repaid in full.

Payments: Payments are not required during the established loan term, but loans must be paid in full by end of the loan term.

Application Period: Applications will be accepted from qualified Florida small businesses under this program through December 16, 2018, contingent on availability of funds.

 

For more information, or to apply for a loan, please visit www.floridadisasterloan.org

You can also visit an SBA Business Recovery Centers (BRC):

Hours: 9 a.m. - 6 p.m., Monday to Saturday (closed Sunday)

Bay County (RV Mobile Business Recovery Center)
Bay County City Job Center parking lot
625 Highway 231
Panama City, FL 32405

Calhoun County
M&B Railroad Museum
16908 NE Pear St.
Blountstown, FL 32424
*Hours as indicated above except on Saturdays, 10 a.m. - 2 p.m.

Franklin County
Franklin County Public Library
311 St. James Ave.
Carrabelle, FL 32333
*Hours as indicated above except on Saturdays, 10 a.m. - 2 p.m.

Gadsden County
Joint Disaster Recovery Center (FEMA/SBA) & Business Recovery Center (SBA/SBDC)
Old Gretna Elementary
706 Martin Luther King Jr Blvd, 
Gretna, FL 32332
*Hours as indicated above except on Saturdays, 10 a.m. - 2 p.m.

Gulf County
Gulf Franklin Center of GCSC
3800 Garrison Ave.
Port St. Joe, FL 33456

Liberty County
Veterans Memorial Civic Center
10561 NW Theo Jacobs Way
Bristol, FL 32321

Taylor County
Super Pufft Snacks
700 W. Lance Drive
Perry, FL 32348

Wakulla County
Wakulla County Community  Center
322 Shadeville Road
Crawfordville, FL 32327

Washington County
Washington County Chamber of Commerce
672 5th St.
Chipley, FL 32428
*Hours as indicated above except on Saturdays, 10 a.m. - 2 p.m.