Governor launches loan program aimed to help keep small businesses afloat

Governor launches loan program aimed to help keep small businesses afloat
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TALLAHASSEE, Fla. (WWSB) - Gov. Ron DeSantis announced on Monday that Florida will begin a $50 million bridge-loan program for businesses hurt by the novel coronavirus and that he has directed the state’s revenue department to extend deadlines for businesses to pay corporate income taxes.

Appearing at the state Emergency Operations Center in Tallahassee, DeSantis said the $50 million in state loans will supplement any loans made available by the U.S. Small Business Administration and will help to “keep people afloat.”

People can apply for the loans, administered by the Florida Department of Economic Opportunity, beginning Tuesday. The interest-free loans can be up to $50,000.

“We think that this is obviously something that is affecting the economy. We hope this is not something that affects the economy infinitum. That it’s relatively short,” DeSantis said. “The problem is if you’re in some of these industries really getting hit, you have a cash flow issue. Particularly if you have tight margins, this is a way to kind of keep people afloat.”

For more information on the program, visit www.floridadisasterloan.org. For questions regarding the Emergency Bridge Loan Program, contact the Florida Small Business Development Center Network at 866-737-7232 or email Disaster@FloridaSBDC.org. The phone line will be answered during regular business hours; all voice mails and emails will be responded to within 24 hours.

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