SBA Economic Injury Loans and Support – Florida

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SBA Economic Injury Loans and Support – Florida

Recent development (3/19/2020): Florida Governor DeSantis activates program in to provide loans to Florida small businesses impacted by COVID-19

Governor Ron DeSantis has activated a bridge loan program that will provide short-term, interest-free loans to small businesses feeling the economic turbulence from the new coronavirus.


  • Up to $50 million has been allocated for the program in Florida.
  • Small business owners that are employers with two (2) to one-hundred (100) employees located in Florida affected by COVID-19 can apply for short-term loans up to $50,000. Loans above $50,000, up to $100,000, may be granted in special need situations.
  • Term of loan is one (1) year. Loans will be interest free for one (1) year, the interest rate will be 12% per annum on the unpaid balance thereafter, until the loan balance is repaid in full. Loan default is subject to a normal commercial collection process.
  • These loans are interest-free for up to one (1) year and are designed to bridge the gap to either federal SBA loans or commercially available loans. These are NOT grants.
  • Florida Small Business Emergency Bridge Loans require repayment by the approved applicant from their longer term financial resources.
  • The Florida Department of Economic Opportunity will work with every borrower to ensure that repayment of the loan isn’t an overwhelming burden.
  • Applicant must be able to demonstrate economic injury as a result of the designated disaster. The need for the loan and use of proceeds must be directly related to the economic injury caused by the designated disaster.
  • Loans will be made to individuals who, individually or collectively, own at least 51% of the equity of the business. Only one (1) loan may be made per eligible business.
  • Borrower will be required to sign an agreement that the 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.
  • Be a for-profit, privately held small business that maintains a place of business in the state of Florida.
  • To be eligible, a business must have been established prior to March 9.
  • The application period runs through May 8.

Below are links for more information on the SBA loan program:

QUESTIONS?: For questions regarding the Emergency Bridge Loan Program, contact the Florida Small Business Development Center Network by calling 866-737-7232 or by emailing dis*****@Fl*********.org. To contact your local SBDC office:

FLORIDA ECONOMIC SURVEY: The Department of Economic Opportunity is also surveying businesses throughout the state that have been impacted by COVID-19. This is to aid the Governor and staff to understand future needs. Businesses and non-profits can access the Business Damage Assessment survey at WWW.FloridaDisaster.BIZ. Select “COVID-19” from the drop-down menu on the survey page. Response to the survey is not an application for assistance. Businesses interested in the bridge loan program must fill out the actual bridge loan application.

We are all in this together.

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