Blog Viewer

Florida Small Business Emergency Bridge Loan, Economic Injury Disaster Loan (EIDL) & Paycheck Protection Loan

By Jaimie Engle posted 04-01-2020 08:41

  

Florida Bridge Loan - $50K to $100K, one year balloon payback, no interest. Short term, interest free working capital loans, not a grant.

Need the following: 2 years completed personal tax returns, 2 years business tax returns, evidence of economic injury (usually that means a YTD Profit and Loss showing the revenue loss), evidence of 2 to 100 employees.

 

Either apply online or mail to the central location. (Florida Department of Economic Opportunity, 107 E. Madison Street, MSC-160, Tallahassee, FL 32399-4120)

SBA Economic Injury Disaster Loan (EIDL) - Up to $2M, up to 30 years, can be used to pay back the Florida Emergency Bridge Loan. Apply directly at the SBA. There is also a grant aspect of this where if you apply the SBA will provide some money up front

 

NOTE: all of the details relating to the immediate grant funds may not be available since the CARES act just passed last Friday.

 

Application Loan

 

SBA Webinar on EIDL

 

 SBA Paycheck Protection Loan – this is an SBA 7A loan where businesses would apply at a bank. Not all the lenders are noted yet, but we suggest you start at the bank that you are doing business with. Details are still be finalized.

 

US Chamber Information Sheet

 

Summary from Senator Rubio

0 comments
2 views

Permalink