State assistance is available to businesses after recent storms
State assistance is available to businesses after recent storms
Small businesses can apply for interest-free loans through the state's economic development agency, FloridaCommerce, to help cover financial losses.
Tallahassee businesses that need help paying their bills due to recent storms can apply for interest-free loans through the state.
On Monday, Gov. Ron DeSantis’ administration activated the Florida Small Business Emergency Bridge Loan Program, making $2 million available for small businesses in 15 counties across the Panhandle.
The goal of the loan program is to provide “financial support for small businesses that may need help making payroll and bridging the way to normalcy during this interruption to their normal course of business,” explained J. Alex Kelly, the state’s secretary of commerce, in a statement issued on Monday.
Short-term loans of up to $50,000 are available to small business owners and sole proprietors that have lost revenue as a result of storm damage or having to remain closed. Applications are available online, and business owners can apply through July 10 or until all of the program’s funds have been distributed.
According to FloridaCommerce, eligible businesses must meet the following requirements:
Employ 2 - 100 workers
Credit score of 600 or higher
Must have been established before last week’s tornadoes
Must not owe money on previous loans through the Emergency Bridge Loan Program
The loan program is available to small businesses and sole proprietors in the following counties: Baker, Columbia, Escambia, Gadsden, Hamilton, Jefferson, Lafayette, Leon, Liberty, Madison, Okaloosa, Santa Rosa, Suwannee, Taylor, and Wakulla.
Loan recipients must own at least 51% of an eligible business.
Business owners may also take a damage assessment survey to help state, local and federal officials determine how much assistance is needed.