How to Apply for the Florida Small Business Emergency Bridge Loan Program

As Coronavirus Cases Continue to Rise, Florida Has Issued Even More Statewide Limits, Including a Stay-at-Home Order. What Can You Do If Your Business Needs Help Staying Afloat?

How to Apply for the Florida Small Business Emergency Bridge Loan Program

Florida Small Business Emergency Bridge Loan Program

In the midst of the coronavirus pandemic, businesses are forced to shut down or work remotely if possible. But that’s not all… Consumers are also forced to stay home – meaning businesses around the world are losing a significant portion of their revenue, laying off employees, and struggling to meet payroll and other expenses. For many organizations, this is a challenging, trying time. If you’re able to, the best course of action is to embrace social distancing and transition to a remote workforce with:

  • Remote access solutions that enable anytime, anywhere access to applications and data.
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  • Collaboration tools, such as Microsoft Teams, that allow for video conferencing, instant messaging, and more.

Take a look at our recent post on remote work for more information or contact us now at (407) 329-5125.

What is the Florida Small Business Emergency Bridge Loan Program?

For small businesses across the state experiencing economic damage resulting from the coronavirus outbreak, the Florida Small Business Emergency Bridge Loan Program is a short-term, interest-free working capital loan that is designed to assist with emergency capital during this difficult time. For eligibility, you must:

  • Be located in Florida
  • Have between 2 – 100 employees
  • Have been established before March 9, 2020
  • Demonstrate economic damage resulting from coronavirus

Those who are eligible can apply for interest-free loans of up to $50,000 for one-year terms. The state has allocated up to $50 million for the program. Ken Lawson, Executive Director of the Florida Department of Economic Opportunity, expressed…

“We have received an overwhelming response from businesses that have applied for assistance through the Emergency Bridge Loan program. We are hopeful that businesses find this resource helpful in reducing the economic impacts from the state’s mitigation efforts in preventing the spread of COVID-19.”

How Can Eligible Small Businesses Apply?

There are two ways to apply:

  1. Click here to apply online by simply uploading the required documentation.
  2. Click here to download an application and fill it out, then mail it with the required documentation to the Florida Department of Economic Opportunity at Florida Department of Economic Opportunity, C/O Small Business Emergency Bridge Loan, 107 E. Madison Street, MSC-160, Tallahassee FL 32399-4120.

You must complete your application before the deadline on May 8, 2020, to receive assistance.

What Other Assistance is Available?

Florida SBDC business consultants are available to assist small businesses with COVID-19 related challenges, including applying for the loan, at no-cost. They can be reached toll-free at 833-832-4494 or via email at: lFloridaBusinessLoanFund@deo.myflorida.com.

Do You Have Questions or Need Assistance with Remote Work? Contact SemTech IT Solutions at (407) 329-5125.