Florida Small Business Emergency Bridge Loan Program

There are many small business owners that are currently scrambling to find ways to keep their employees working and their businesses afloat. The pandemic that is COVID-19 has caused our entire world to come to a screeching halt, leaving a lot of uncertainty floating around.


There are now programs and financial assistance available to small businesses trying to keep their doors open. Below is the first of three financial assistance options for small business owners. 


1.    Florida Small Business Emergency Bridge Loan Program – loans are short-term debt loans from the State of Florida using public funds. These are NOT grants.

a.       Applicants are eligible for up to $50,000 per eligible small business for a term of 1 year. The loan will be interest free for up to 1 year. After the one year is up, the interest rate will be 12% per annum on the unpaid balance.

b.      Applications are currently being accepted through May 8, 2020, depending on the availability of funds.

c.       Eligible Business – for profit, privately held small business that maintains a place of business in Florida and located within a designated disaster area. Currently, the entire state is a designated disaster area. Businesses must also be established prior to March 9, 2020 and able to demonstrate economic injury as a result of the Coronavirus.

d.      Loans will not be disbursed to any business who:

                                                                          i.      Derives more than one-third of gross annual revenue from legal gambling activities

                                                                        ii.      Presents live performances of an indecent sexual nature or derives more than 2.5% of gross revenue through products or services depicting indecent sexual nature.

                                                                      iii.      Have a primary purpose of facilitating polyamorous relationships

                                                                      iv.      Are massage parlors, hot tub facilities, or escort services

e.       Loans will be made to individuals who own at least 51% of equity in the business. The borrower will be required to agree that the proceeds of the loan will be used only for the purposes of maintaining or restarting the business in the designated area. Usage of the proceeds to pay off debts already incurred for business maintenance may be authorized case-by-case. The borrower will also be required to agree that the proceeds of insurance claims and other financial assistance will be used to repay the loan.

f.       Application requirements:

                                                                          i.      Government issued personal identification

                                                                        ii.      Federal business tax returns for the last 2 completed years

                                                                      iii.      Employer tax documentation

                                                                      iv.      Personal tax returns for the last 2 completed years with Schedule C, if available and where appropriate

                                                                        v.      Additional information, such as a loan summary, that an applicant feels would assist the Loan Review Committee in making a decision

g.       Where to apply:


                                                                          i.      http://floridajobs.org/rebuildflorida/business recovery