Emergency Bridge Loan Program Activated to Assist Small Businesses Impacted by Hurricane Irma
In an effort to speed up the recovery process for small businesses physically and/or economically impacted by Hurricane Irma, Gov. Rick Scott has activated the Florida Small Business Emergency Bridge Loan Program.
Under the program, short-term, interest-free "bridge" loans up to $25,000 are available to small business owners located in all 67 counties in Florida.
These loans are designed to help impacted small business owners meet immediate financial obligations until long-term financial recovery resources are secured, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.
Owners of small businesses with two (2) to 100 employees located in the designated counties may apply for $1,000 to $25,000. Loans are granted in terms of 90 or 180 days and are interest-free for that time period.
To be eligible for bridge loan, a business must have been established prior to Sept. 4, 2017, and demonstrate physical damage and/or economic injury as a result of Hurricane Irma.
Applications may be downloaded at www.floridadisasterloan.org. Complete eligibility and loan development details as well as additional resources may also be found on the website. Applications for this program will be accepted through Oct. 31, 2017.