FloridaCommerce has activated the Florida Small Business Emergency Bridge Loan Program, offering $50 million to businesses affected by Hurricane Milton. Small business owners in Florida seeking assistance can apply at FloridaJobs.org/EBL.
The program is available to businesses in several counties including Alachua, Baker, and Brevard among others. It offers short-term, zero-interest loans to those that suffered economic or physical damage due to the hurricane. Applications are open until December 4, 2024, or until funds run out.
Small businesses can apply for loans up to $50,000. For agriculture and aquaculture sectors, loans up to $100,000 are available. Citrus and cattle operations may access loans of up to $150,000. The purpose of these loans is to provide a financial bridge between the disaster impact and obtaining longer-term recovery funding from other sources like federal loans or insurance claims.
These state-funded loans must be repaid by the recipients as they are not grants. FloridaCommerce manages this program with help from Florida First Capital Finance Corporation.
For more information on applying and required documentation, visit FloridaJobs.org/EBL before the deadline. Additional inquiries can be directed to 833-832-4494 during business hours.