COVID-19 Economic Recovery Resources
Florida Small Business Emergency Bridge Loan
The purpose of the program is to provide an expedient source of capital to impacted small businesses. The 1-year bridge loan is a short-term, interest-free source of working capital intended to help the business “bridge the gap” between the time of COVID-19 impacts and when federal assistance becomes available. Up to $50,000 is available per applicant.
Small business eligibility criteria:
Business employees between 2 and 100 employees
Business established prior to March 9, 2020
Business suffered economic injury as a result of COVID-19 crisis
Application deadline: May 8, 2020
The Apalachee Regional Planning Council is staying informed on the availability of grants, loans, and other resources to mitigate and recover from economic impacts
of COVID-19. As local, state, and federal resources become available, our team is ready to assist your business, organization, or local government with applications and other planning activities.
The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of COVID-19.
Businesses eligible for an Economic Injury Disaster Loan include private and non-profit organizations. The interest rate is 3.75% for small businesses and 2.75% for non-profits. Up to $2 million in assistance is available per applicant. Loans may be used to pay fixed debts, payroll, accounts payable, and other bills that cannot be paid due to COVID-19 impacts. As a note, small businesses eligible for the Small Business Emergency Bridge Loan should apply to that program before applying for an SBA loan.
ARPC is ready to help you prepare and recover.
As during any disaster, we are here to help our communities prepare and recover. Upon the activation of federal, state, and local disaster assistance, our team can assist you with preparing and submitting applications and with other ongoing or post-disaster challenges.
Contact Caroline Smith at firstname.lastname@example.org to learn more or request assistance.