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Gov. DeSantis activates emergency loan program for Florida businesses impacted by COVID-19

The program will provide short-term, interest-free loans to small businesses impacted by COVID-19. Up to $50 million has been allocated for the program.

TALLAHASSEE, Fla. — On Monday, Governor Ron DeSantis activated the Florida Small Business Emergency Bridge Loan Program to support small businesses impacted by 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. The application period opens Tuesday and runs through May 8, 2020.

“As we mitigate against the spread of COVID-19, the health, safety and well-being of Floridians comes first,” said DeSantis. “I understand the harm mitigation strategies will have on small businesses throughout our state...”

DEO will administer the Florida Small Business Emergency Bridge Loan Program in partnership with the Florida SBDC Network and Florida First Capital Finance Corporation to provide cash flow to businesses economically impacted by COVID-19. 

Up to $50 million has been allocated for the program.

Small business owners with two to 100 employees located in Florida affected by COVID-19 can apply for short-term loans up to $50,000. These loans are interest-free for up to one year and are designed to bridge the gap to either federal SBA loans or commercially available loans. 

To be eligible, a business must have been established prior to March 9, 2020 and demonstrate economic impacts as a result of COVID-19.

For more information on the program, visit www.floridadisasterloan.org

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