Business Recovery Resources
Business Recovery Resources - Click on each icon to learn more about the programs
Coronavirus Aid, Relief & Economic Security (CARES) Act Fact Sheets
(provided on behalf of the Broward County Office of Economic & Small Business Development)
Loan Guaranty Program
Economic Injury Disaster Loan
Small Business Emergency Bridge Loan Program
Economic Development Administration
Delay of Payment of Employer Payroll Taxes
Unemployment Insurance Expansion
Small Business Loan Program and Tax Credits
Department of Economic Opportunity Short-Time Compensation
Florida Small Business Damage Assessment Survey
Direct Payment to Workers
The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19.
These short-term, interest-free working capital loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer-term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.
The Florida Small Business Emergency Bridge Loan Program is not designed to be the primary source of assistance to affected small businesses, which is why eligibility is linked pursuant to other financial sources. Note: Loans made under this program are short-term debt loans made by the state of Florida using public funds – they are not grants. Florida Small Business Emergency Bridge Loans require repayment by the approved applicant from longer-term financial resources.
- Designated Disaster Areas: All Florida counties statewide per Executive Order 20-52.
- Qualified Applicant: Applications will be accepted by qualified for-profit, privately held small businesses that maintain a place of business in the state of Florida. All qualified applicants must have been established prior to March 9, 2020, and suffered economic injury as a result of the designated disaster. Qualified small business applicants must be an employer business with 2 to 100 employees.
- Amount: Up to $50,000 per eligible small business. Loans of up to $100,000 may be made in special cases as warranted by the need of the eligible small business.
- Term: 1 year.
- Limitation: Only one loan may be made per eligible business. All previous bridge loans received MUST be paid in full.
- Interest Rate: Loans will be interest-free for the loan term (1 year). The Interest rate will be 12% per annum on the unpaid balance thereafter until the loan balance is repaid in full. Loan default is subject to a normal commercial collection process.
- Application Period: Applications will be accepted by qualified Florida small businesses under this program through May 8, 2020, contingent on the availability of funds.
- Review eligibility requirements and loan process.
- Download, complete and sign the application form (PDF) PDF Download.
- Gather required support documentation.
- To submit completed applications and required documents, send by mail or courier to: Florida SBDC Network Headquarters, C/O Florida Emergency Bridge Loan Process, 220 West Garden Street, Suite 301 Pensacola, Florida 32502. Applicants may also submit applications and required documents via email to Disaster@FloridaSBDC.org or by fax to (850) 696-2693.
- For assistance in completing the application, contact your local Florida Small Business Development Center (SBDC) office. To locate your local Florida SBDC visit www.FloridaSBDC.org/locations or contact us toll-free (866) 737-7232
For questions regarding the Emergency Bridge Loan Program, please contact the Florida Small Business Development Center (SBDC) Network Headquarters. Email: Disaster@FloridaSBDC.org. Phone toll-free: (866) 737-7232.
About the Emergency Bridge Loan Program
The Florida Small Business Emergency Bridge Loan Program was first activated following Hurricane Andrew in 1992. It has been activated 26 additional times following disasters and has helped more than 4,750 small businesses statewide to receive more than $157.5 million in assistance.
Short-Time Compensation Program for Employees
The Short-Time Compensation program helps employers retain their workforce in times of temporary slowdown by encouraging work sharing as an alternative to layoff. This program permits prorated reemployment assistance benefits to employees whose work hours and earnings are reduced as part of a Short Time Compensation plan to avoid total layoff of some employees. Apply here Short-Time Compensation Program for Employees.
Economic Injury Disaster Loan Program
Important Update: Small Business Administration (SBA) Closes Application Portal For EIDL-COVID-19 Assistance Program
Due to the closing of the application portal for Economic Injury Disaster Loan (EIDL) COVID-19 assistance programs (EIDL loans and EIDL Advances), the SBA is temporarily suspending its daily business recovery webinars.
The SBA is processing EIDL applications as quickly as possible. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
Small Business Paycheck Protection Program
Notice: PPP Resumed April 27, 2020: The SBA resumed accepting Paycheck Protection Program applications from participating lenders on Monday, April 27, 2020, at 10:30 am EDT.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.
Florida Small Business
The Florida Department of Economic Opportunity (DEO) issued the Business Damage Assessment Survey to evaluate businesses affected by COVID-19 and the impacts the virus has had on the local economy. The survey’s feedback allows the State Government to fully assess the economic impact COVID-19 is having on Florida businesses and industries, in order to mobilize the appropriate resources to help alleviate those pressures. The Business Damage Assessment Survey can be taken online. Results will be shared with state agencies and local partners, including the Small Business Administration. For inquiries and assistance with the survey, please contact ESF18@em.myflorida.com.
Reemployment Assistance Program
The Reemployment Assistance program provides temporary and partial wage replacement for qualified workers who have become unemployed, through no fault of their own, during this public health emergency. You can apply online for Reemployment Assistance (formerly known as unemployment compensation) if you were working in Florida and are now:
- Temporarily unable to work due to a positive COVID-19 test result.
- Quarantined by a medical professional or a government agency.
- Laid off or sent home without pay for an extended period of time because of the COVID-19 pandemic.
- Caring for an immediate family member diagnosed with COVID-19.
- Learn more about Reemployment Assistance and how to apply here: Version OptionsCoronavirus Disease 2019 (COVID-19)Headline Coronavirus Aid, Relief & Economic Security (CARES) Act Coronavirus Aid, Relief & Economic Security (CARES) Act Coronavirus Aid, Relief & Economic Security (CARES) Act Fact Sheets Coronavirus Aid, Relief & Economic Security (CARES) Act Fact Sheets Coronavirus Aid, Relief & Economic Security (CARES) Act Fact Sheets Coronavirus Aid, Relief & Economic Security (CARES) Act Fact Sheets Coronavirus Aid, Relief & Economic Security (CARES) Act Fact Sheets Coronavirus Aid, Relief & Economic Security (CARES) Act Fact Sheets.