Florida Offers Help For Small Businesses After Hurricane Irma

TALLAHASSEE, FL — Florida small business owners reeling from the effects of Hurricane Irma may find some help available. Gov. Rick Scott on Thursday announced the activation of the Florida Small Business Emergency Bridge Loan Program to assist with the state's economic recovery after the storm.

“Hurricane Irma was a massive storm affecting our entire state, including many of our small businesses,” Scott said in announcing the program’s launch. “Small businesses are the backbone of Florida’s economy, and families are depending on these businesses recovering as quickly as possible.” (For more hurricane news or local news from Florida, click here to sign up for real-time news alerts and newsletters from Tampa Patch. Click here to find your local Florida Patch. If you have an iPhone, click here to get the free Patch iPhone app.)

The bridge loan program provides short-term, interest-free loans to help small businesses “bridge the gap between the time damage is incurred and when a business secures other financial resources, including payment of insurance claims” and other forms of loan funding, a state media release said. Up to $10 million has been allocated to help small businesses following Irma's run through the state.

Watch: FEMA Says Irma Clean-Up Will Be A Complex And Frustrating Process

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The Florida Department of Economic Opportunity is administering the bridge loan program in partnership with other state agencies. Loans of up to $25,000 are available for small business owners in any of Florida’s 67 counties affected by Irma. To qualify, businesses need to have between 2 and 100 employees. Loans are available with terms of 90 and 180 days. To qualify, a business must have been opened prior to Sept. 4, 2017, and must be able to demonstrate economic or physical damage due to Hurricane Irma.

Applications for bridge loans must be completed by Oct. 31. The forms can be found on the state’s website. Business owners with questions may call the Florida Small Business Development Center Network at 850-898-3489 or email disaster@FloridaSBDC.org.

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