Tallahassee, Fla. – Today, FloridaCommerce activated the Florida Small Business Emergency Bridge Loan Program, making $50 million available for businesses impacted by Hurricane Milton. Florida small business owners in need of assistance are encouraged to visit FloridaJobs.org/EBL to apply for the Florida Small Business Emergency Bridge Loan Program.
Businesses in Brevard, including sole proprietors, are eligible to apply.
The program provides short-term, zero-interest loans to small businesses that experienced economic injury or physical damage due to Hurricane Milton. Interested applicants can apply now through November 25, 2024, or until all available funds are expended.
Eligible small businesses may apply for loans of up to $50,000 through the program. Loans of up to $100,000 are available for agriculture and aquaculture small businesses, and loans of up to $150,000 are available for citrus and cattle operations. Loans approved through the Emergency Bridge Loan Program are intended to “bridge the gap” between the time a disaster impacts a business and when a business has secured longer-term recovery funding, such as federally or commercially available loans, insurance claims, or other resources.
Loans made under this program are short-term, zero-interest, personal loans using State of Florida funds. They are not grants and loans must be repaid by the approved applicant.
FloridaCommerce administers the Emergency Bridge Loan Program alongside its fiscal administrator, Florida First Capital Finance Corporation.
Visit FloridaJobs.org/EBL to learn more about the program, view the lending guidelines and required documentation, and complete an application by the November 25, 2024, deadline. Business owners who need further program information may call 833-832-4494 Monday through Friday from 8 a.m. to 5 p.m., Eastern Daylight Time.
