Emergency loan program for small businesses activated

Application period open through May 8

Image courtesy State of Florida

This week, Gov. Ron DeSantis activated the Florida Small Business Emergency Bridge Loan Program to support small businesses dealing with the ramifications of the novel coronavirus, 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 experienced economic injury from COVID-19,” a news release says. The application period opened on March 17 and will continue through May 8, the release adds.

DEO will administer the Florida Small Business Emergency Bridge Loan Program in partnership with the Florida SBDC Network and Florida First Capital Finance Corp. “to provide cash flow to businesses economically impacted by COVID-19,” the release says. “The short-term, interest-free loans 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,” it adds. “Up to $50 million has been allocated for the program.”

For more information on how to apply, the link is https://floridadisasterloan.org/.

Both representatives of the City of Sarasota and the Siesta Key Chamber of Commerce sent out alerts on March 17, to ensure businesses are aware of the program’s activation.