Florida Emergency Bridge Loan program- this is temporary assistance for 12 months

• Visit https://floridadisasterloan.org/
• Review eligibility requirements and loan process.
• Complete and submit application and support documentation online
• Department of Economic Opportunity phone: 1-833-832-4494
• Email covid@cfdc.org for additional assistance

Businesses that have a good estimate of the funding need should also apply to SBA- this is permanent assistance.

• Visit hhttps://disasterloan.sba.gov
• Review eligibility requirements and loan process
• Gather required support documentation.
• Apply online whenever possible and ONLY for Economic Injury Loan
• Make sure to include amount needed to cover expenses for 3-4 months PLUS repayment of bridge loan, if applicable.
• SBA Disaster Loan Phone: 1-800-659-2955
• Email covid@cfdc.org for additional assistance

CARES Act

• See attached document describing the Paycheck Protection Program factsheet, details, and sample application. You will apply with your bank for this program.
  • Companies eligible to borrow 2.5x monthly payroll
  • Capped at $10m
  • Amounts within first 8 weeks used for payroll, rent, mortgage, and utilities can be forgiven
  • 0.5% interest; 2-year term on amount not forgiven. There are Zero fees on these loans. SBA will cover Bank fees.
  • Available to small businesses, Section 501(c)(3)s, Section 501(c)(19)s and Tribal businesses of 500 total employees or fewer. 
• Employee Retention Payroll Tax Credit.
  • Refundable payroll tax credits of up to $5,000 for each employee available to eligible employers 
  • Available to small businesses, Section 501(c)(3)s, Section 501(c)(6)s, and Tribal businesses

Other temporary cashflow options:

• Reach out to your bank for mortgage payment options or discuss your situation with your landlord, when applicable.
• Utilities companies are allowing for payment deferrals without a penalty
• Supplier may be able to extend payment terms