Emergency business loans available

Sept. 15--The state of Florida's Small Business Emergency Bridge Loan Program has been activated by the governor as a result of damage caused by Hurricane Irma.

The program provides short-term, interest-free loans to storm-damaged businesses.

The loans help businesses bridge the gap between the time damage is incurred and when a business secures other financial resources. This includes payment of insurance claims or longer-term Small Business Administration loans.

The program provides short-term loans, not grants, with the expectation that repayment will be made from other longer-term disaster recovery assistance.

Under the program, eligible small businesses in all 67 Florida counties with two to 100 employees may apply for short-term, interest-free loans for $1,000 to $25,000 for 90 or 180-day terms. To be eligible, a business must have been established before Sept. 4, and demonstrate economic injury or physical damage as a result of Hurricane Irma, an Alachua County news release said.

Those who wish to apply for the loan program should visit the Florida Disaster Loan website for detailed information and downloadable application. The deadline to apply is Oct. 31.

For questions regarding local administration of the Emergency Bridge Loan Program, contact the Florida Small Business Development Center (SBDC) Network State Office at 850-898-3489 or [email protected].