The Florida Small Business Emergency Bridge Loan Program is a state-funded short-term loan program that provides immediate, temporary assistance to small businesses impacted by a disaster, such as hurricanes, floods, or other emergencies. Administered by the Florida Department of Economic Opportunity (DEO), the program is designed to "bridge the gap" by offering quick financial relief to small businesses until longer-term resources, such as insurance claims or federal disaster assistance, are available.

Key Features
Loan Amount: Loans typically range from $1,000 to $50,000, although this can vary depending on the specific disaster and available funding.

Interest Rate: These loans are interest-free for a specified term, usually for up to one year. After this period, if the loan is not repaid, a fixed interest rate might apply.

Repayment Terms: This is a short-term loan, usually requiring repayment within 12 months. It's not intended as a long-term solution but rather as a bridge to keep businesses operational while they secure additional funds.

Eligibility Requirements:

Business must be physically located in Florida.
Must have been operational at the time of the disaster.
Typically, there are size limitations (e.g., fewer than 100 employees).
Must show evidence of economic injury from the specific disaster.
Application Process:

Applications are submitted through the DEO.
In some cases, additional documentation (e.g., tax returns, financial statements) may be required.
Approval Timeline: Designed for rapid deployment, with approvals and disbursements generally processed as quickly as possible to support immediate needs.

How to Apply
Eligible small businesses can apply online through the DEO's website during an active application period, which usually opens after a disaster declaration. It's a first-come, first-served program, meaning that funding could be exhausted, so early application is encouraged.

For more detailed information, including current application deadlines, visit the Florida Department of Economic Opportunity's website or contact them directly.

Call 1-833-832-4494
EmergencyBridgeLoan@Commerce.fl.gov

http://www.floridajobs.org/EBL

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