Kenzie James
ECB Publishing, Inc.
FloridaCommerce announced in May the activation of a loan program to help small businesses in North Florida after the tornadoes and severe weather on May 10.
FloridaCommerce announced in a press release May 13 that Gov. Ron DeSantis activated the Florida Small Business Emergency Bridge Loan (EBL) Program and two million dollars were available for businesses who were affected by the tornadoes. The EBL Program uses State of Florida funds and works with the Florida First Capital Finance Corporation to distribute short-term, zero-interest loans to businesses who were economically injured or physically injured by the tornadoes. Businesses in 18 North Florida counties, including Jefferson County, can apply for a loan up to $50,000.
The Florida Small Business Development Center (SBDC) Network shared the EBL program information on their Facebook page on Tuesday, May 28, to inform small businesses about the open applications. The Monticello Chamber of Commerce also shared the SBDC announcement of the loans because Jefferson County was one of the North Florida counties affected by the tornadoes.
“The EBL program provides short-term, zero-interest working capital loans that are intended to 'bridge the gap' between the times a disaster impacts a business and when a business has secured longer term recovery funding such as federally or commercially available loans, insurance claims or other resources,” the Florida SBDC post said.
To be eligible to apply for a loan, businesses must: be located in an eligible county in Florida, have been established prior to May 10, 2024, been economically or physically injured by the North Florida tornadoes, have fewer than 100 employees, have a credit score of 600 or higher and have repaid all previous Emergency Bridge Loans.
FloridaCommerce announced on Wednesday, May 22, that $640,000 of the two million was approved to 18 businesses. The application period will remain open until July 10, 2024, or until all the funds have been distributed. More information about the documents needed to apply are available at www.floridajobs.org/ebl.