COVID-19 we are here to help

Has your business been impacted by the Coronavirus (COVID-19)?

The Florida SBDC is here to provide access to the disaster capital and resources your business needs to recover, rebuild and grow.

If your business has been adversely impacted by COVID-19 you may eligible and qualify for a no-interest, no-fee state and/or a low-interest federal business disaster loan.  In this section of our website, you will find a wealth of information to help you with your business recovery efforts, including details about Federal and State Small Business Disaster Loan Programs; information on Where to Find Assistance; Additional Resources; and more.


Federal Disaster Loans for Small Business 

Paycheck Protection Program Loan Guarantee and Forgiveness

Loan Program Activated Icon

Activated: COVID-19

Click Here for information about eligibility, loan program details, and how to apply.
Application Filing Deadline:  June 30, 2020

apply here

 

 

Passed by Congress and signed by the President, the Coronavirus Aid, Relief, and Economic Security (CARES) Act established the Paycheck Protection Program intended to provide eligible small businesses with eight weeks of cash-flow assistance through 100 percent federally guaranteed loan from the U.S. Small Business Administration (SBA). To apply for forgiveness, small businesses must submit documentation regarding the eligible uses of loan funds (payroll costs, mortgage interest, utilities, etc.), a certification that such documents are true and correct, as well the amount to be forgiven, and any other documentation deemed necessary by the SBA. The amount any small business is eligible to borrow and be forgiven is 250 percent of their average monthly payroll expenses, up to a total of $10 million.

U.S. SBA Economic Injury Disaster Loan (EIDL)

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Activated: COVID-19

Click Here for information about eligibility, loan program details, and how to apply.
Application Filing Deadline:  December 18, 2020

apply here

 

 

The President has activated a presidential disaster declaration in response to COVID-19, activating the SBA’s Economic Injury Disaster Loan (EIDL) Program. Impacted businesses, small agricultural cooperatives, and private nonprofit organizations may apply for low-interest loans through the SBA’s Economic Injury Disaster Loan (EIDL) Program. If your business has suffered substantial economic injury, you may qualify for an EIDL. EIDLs provide working capital to help businesses survive until normal operations resume after a disaster. The SBA can provide up to $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred.

If your business needs funding now, eligible businesses can apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid.

State of Florida Disaster Loan for Small Business 

Florida Small Business Emergency Bridge Loan (EBL)

Loan Program Activated Icon

Activated: COVID-19

Click Here for information about eligibility, loan program details, and how to apply.
Application Filing Deadline: Applications will be accepted under this program through May 8, 2020, contingent on availability of funds.

apply here

 

 

To check the status of your EBL application:

Log in to the online application website at www.floridajobs.org/covid-19 to view the status of your loan. If you are not in the online system, please contact DEO toll-free at 833-832-4494 or email FloridaBusinessLoanFund@deo.myflorida.com.

The Florida Small Business Emergency Bridge Loan (EBL) Program provides short-term, interest-free and fee-free loans to eligible businesses impacted by COVID-19. Administered by the Florida Department of Economic Opportunity (DEO) in partnership with the Florida SBDC Network and Florida First Capital Finance Corporation (FFCFC), the EBL program helps small businesses bridge the gap between the time of disaster and when a small business can secure long-term and permanent financial assistance, such as a SBA Economic Injury Disaster Loan or proceeds from the Paycheck Protection Program.

Watch this video to learn more about the details of the Florida Small Business Emergency Bridge Loan:


Where to Find Assistance

Our Florida SBDC disaster recovery specialists provide one-on-one confidential consulting at no cost to help businesses prepare disaster loan applications and assist with other post-disaster challenges. Please note that consultations are taking place via phone call or virtual meeting. Due to the COVID-19 pandemic, we are experiencing high volumes of calls, emails, and requests for consulting. We will work to respond to your request as quickly as possible. We ask that you remain patient during this time and we’ll be in touch with you as soon as possible.

Find your local Florida SBDC by clicking here.