Florida offers help to small businesses to offset impacts of coronavirus

Orlando, Fla. — Small businesses struggling with the impacts of the coronavirus pandemic are starting to receive relief from the state.

Two businesses in Tallahassee were the first to receive Small Business Emergency Bridge Loans offered by the Florida Department of Economic Opportunity, or the DEO.

According to the DEO, it administers the emergency bridge loan program in partnership with the Florida SBDC Network and Florida First Capital Finance Corp to provide cash flow to businesses economically impacted by COVID-19.

Cheryl Kirby, chief operations officer for the Florida SBDC Network, tells News 96.5 WDBO, the bridge loan program, activated last week provides short-term, interest free loans for one year.  Loans may be awarded up to $50,000 per business, or possibly $100,000 in special circumstances.

You must apply for this loan by May 8, 2020. Businesses can apply here 

Florida small business owners can also apply for financial help at the federal level through the Small Business Administration. 

Kirby says those loans are NOT interest free, but funding is up $2 million dollars with pay back terms as long as 30 years.

In the APP click here:  FloridaSBDC.org  or  www.SBA.gov