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COVID-19 Relief - Florida Small Business Emergency Bridge Loan Program

We know that each of you are facing your own challenges based on the impact of COVID-19 on workplaces, schools, and family circumstances.

In an effort to provide assistance to those businesses impacted by COVID-19 Florida Governor Ron DeSantis activated the Florida Small Business Emergency Bridge Loan Program on Tuesday, March 17, 2020.

The bridge loan program, managed by the Florida Department of Economic Opportunity, will provide short-term, interest-free loans to small businesses that experienced economic hardships due to COVID-19.

"As we mitigate against the spread of COVID-19, the health, safety and wellbeing of Floridians comes first," said Governor DeSantis. "I understand the harm mitigation strategies will have on small businesses throughout our state. By activating the Florida Small Business Emergency Bridge Loan, we are providing the opportunity for Florida's small businesses to receive cash immediately to ensure they can lessen the impacts felt as a result of COVID19."

The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19. The application period began today and runs through May 8, 2020.

Note: Loans made under this program are short-term debt loans made by the state of Florida using public funds – they are not grants. Florida Small Business Emergency Bridge Loans require repayment by the approved applicant from longer-term financial resources.

Loan Details

  • Designated Disaster Areas: All Florida counties statewide per Executive Order 20-52.

  • Application Period: Applications will be accepted by qualified Florida agricultural producers under this program through May 8, 2020, contingent on the availability of funds.

  • 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.

  • Limitation: Only one loan may be made per eligible business. All previous bridge loans received MUST be paid in full. Term: 1 year.

  • 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.

  • 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 March 9, 2020, and suffered economic injury as a result of the designated disaster. Qualified small business applicants must be an employer business with 2 to 100 employees.

If you have experienced, or anticipate that you will experience, economic damage as a result of COVID-19, the JARCPA team is available to assist you. If you have any questions, need help filing the application or need more information regarding disaster relief, please contact us at your earliest convenience.