Has your business experienced economic damage as a result of COVID-19?

We are here to provide access to the capital and resources you need to recover.

SMALL BUSINESS PROGRAMS

• Economic Injury Disaster Loan (EIDL)

• Florida Emergency Bridge Loan

• SBA Working Capital Loan

• Bank Term Loans

• SBA Commercial Real Estate (CRE) Loan

• Capital Ready Program

Economic Injury Disaster Loan (EIDL)

If your small business suffered substantial economic injury as a result of COVID-19, you may be eligible for an SBA Economic Injury Disaster Loan (EIDL). Substantial economic injury means the business is unable to meet its obligations and is unable to pay its ordinary and necessary operating expenses. EIDLs provide working capital to help businesses survive until normal operations resume after a disaster.

Following the activation of a presidential disaster declaration, impacted businesses, small agricultural cooperatives, and private nonprofit organizations may apply for low-interest loans through the U.S. Small Business Administration’s Economic Injury Disaster Loan (EIDL) Program. All counties within the State of Florida have been declared a disaster area. As a result, your small business may qualify for an EIDL.

EIDL assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere.

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Loan Size

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Loan Description

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Use of Proceeds

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Interest Rates

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• up to $2 million

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• SBA 5(c) Loan

• Working Capital

• Fixed Debts

• Payroll

• Accounts payable

• Other bills that can't be paid as a result of the disaster's impact

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• 3.75% for small businesses

• 2.75% for non-profit organizations

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1. Prime Rate as published by the Wall Street Journal

2. Fees are capped by the SBA at 4% and partners are prohibited from charging additional points or fees

3. This is an estimate and actual costs may vary

Loan Terms

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Payment

Geographic

Coverage 

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• up to 30 years

• Terms are determined on a case-by-case basis, depending on the borrower's ability to repay

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• Monthly payments are debited from checking account ​

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• Nationwide​

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Florida Emergency Bridge Loan

The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19.  The Florida Small Business Emergency Bridge Loan Program is not designed to be the primary source of assistance to affected small businesses, which is why eligibility is linked pursuant to other financial sources.

Note:

Loans made under this program are short-term debt loans made by the state of Florida using public funds – THEY ARE NOT GRANTS. Florida Small Business Emergency Bridge Loans require repayment by the approved applicant from longer term financial resources.

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Loan Size

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Loan Description

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Use of Proceeds

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• up to $50,000

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• Florida Small Business

• Emergency Bridge Loan

• A borrower will be required to sign an agreement that proceeds of the loan will be used only for purposes of maintaining or restarting the business in the designated area. Use of proceeds to pay off debts already incurred for qualifying business maintenance or restart purposes may be authorized on a case-by-case basis.​​​​

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Interest Rates

Loan Term

Payment

Geographic

Coverage 

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• Interest Free

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• 1 Year

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• Monthly payments are debited from checking account 

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• Florida

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1. Prime Rate as published by the Wall Street Journal

2. Fees are capped by the SBA at 4% and partners are prohibited from charging additional points or fees

3. This is an estimate and actual costs may vary

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