BRIEF: After Irma: ‘Bridge’ loans for small businesses

Sept. 14--Gov. Rick Scott announced on Thursday that he has activated the Florida Small Business Emergency Bridge Loan Program to help small businesses affected by Hurricane Irma. The program, managed by the Florida Department of Economic Opportunity, provides short-term, interest-free loans to small businesses that experienced physical or economic damage during the storm. The application period is Thursday through Oct. 31.

The loans are designed to help bridge the gap between the time damage is incurred and when a business secures other financial resources, including payment of insurance claims or longer-term Small Business Administration loans. Up to $10 million has been allocated for the program.

Small business owners with two to 100 employees can apply for short-term loans up to $25,000. These interest-free loans are granted in terms of 90 or 180 days. To be eligible, a business must have been established prior to Sept. 4 and demonstrate economic injury or physical damage as a result of Hurricane Irma.

visit www.floridadisasterloan.org, call (850) 898-3489 or email [email protected].

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