Governor Scott activated the Small Business Emergency Bridge Loan program from Algae Blooms and Red Tide as of last week.
Please review the bullet points below, as well as the attached document.
- Eligible business owners can borrow up to 50k per eligible for profit business from Florida state using public funds
- Lee County (and other areas) businesses are eligible that suffered physical or economic injury due to algae bloom (AB)and red tide (RT). The business must have been established for AB assistance as of 7/9 and RT as of 8/13
- Businesses must employ a minimum of two employees, max 100
- Term: Up to 180 days
- If the loan is paid off on or within the 180 days, the interest is forgiven. If the loan is not paid off within 180 days, interest will accrue at 18%
- All previous Bridge Loans must be paid in full
- Administrator for loan: Florida First Capital Finance Corp
- Applications accepted through 9/7 for AB and 10/12 for RT contingent on availability of loans
- Contact: firstname.lastname@example.org or 850-898-3479
Please see the attachment for your reference. You can also click on the dedicated link below for more details: