FloridaCommerce Announces Funding to Support Small Businesses Impacted by South Florida Flooding

Tallahassee, Fla. - FloridaCommerce has approved more than $2.1 million in funding through the Florida Small Business Emergency Bridge Loan Program to small businesses impacted by the flooding in South Florida. To date, 66 businesses have been approved to receive these funds to bridge the gap while they wait on other funding such as insurance, with more applications being approved every day.

Eligible South Florida small businesses impacted by the floods may apply for loans of up to $50,000 through the program. Loans approved through the Emergency Bridge Loan Program are intended to "bridge the gap" between the time a disaster impacts a business and when the business has secured longer-term recovery funding, such as federally or commercially available loans, insurance claims, or other resources. Small business owners needing assistance are encouraged to visit FloridaJobs.org/EBL to apply for the program.

FloridaCommerce administers the Emergency Bridge Loan Program alongside its fiscal administrator, Florida First Capital Finance Corporation. 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.

Businesses in Broward, Collier, Lee, Miami-Dade, and Sarasota counties, including sole proprietors, are eligible to apply through August 12, 2024.

Visit FloridaJobs.org/EBL to learn more about the program, view the lending guidelines and required documentation, and complete an application by the August 12, 2024, deadline. Business owners who need further program information may call 833-832-4494 Monday through Friday, from 8 a.m. to 5p.m., Eastern Daylight Time.

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