On Monday, March 17, 2020, the State of Florida announced the availability of zero interest short term bridge loans for Florida small businesses impacted by the Coronavirus. These loans are generally available to any qualifying business regardless of current revenue or other similar concerns..
Qualifying businesses are simply any business in the State of Florida, established before March 9, 2020, with between 2 and 100 employees (with exceptions for businesses engaged in gambling, illegal activity, massage or escort type services).
The loans will typically be for $50,000 or less (though loans for more will be approved on a case by case basis) and have a zero percent interest for the first year (increasing to twelve percent per annum after the first year).
This means that a vast majority of small to medium sized business will be able to easily (and quickly) take advantage of this program by applying before May 8, 2020.
If you or your business need help determining if you qualify for this program or applying, please do not hesitate to contact us at 239.449.9200 today.