Small Business Emergency Bridge Loan

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.

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.

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.

For more information, or to apply for a loan, please visit floridajobs.org/rebuildflorida/businessrecovery