MIAMI – The U.S. Small Business Administration manages four programs from the federal government to help businesses with 500 employees or less.
PAYCHECK PROTECTION PROGRAM: Private banks issue the forgivable loans. Here is the SBA’s database to find eligible lenders >
ECONOMIC INJURY DISASTER LOANS: The program provides loans of up to $2 million with a term of up to 30 years. It also provides a $10,000 advance that doesn’t have to be repaid. Here is the application >
EXPRESS BRIDGE LOANS: The program provides loans of up to $25,000 but it is only available to businesses with an existing relationship with Community Enterprise Investments, Inc., Black Business Investment Fund Inc. or Partners for Self-Employment, Inc. Working Capital Florida.
DEBT RELIEF: This program applies to loans issued before Sept. 27, 2020 and includes payments of the principal, interest and fees. It also provides automatic deferments through Dec. 31, 2020.
Florida set up a $50 million loan program for small businesses through the Florida Department of Economic Opportunity.
SMALL BUSINESS EMERGENCY BRIDGE LOAN: This program offers loans of up to $100,000 for businesses established before March 9th and that have two to 100 employees. Here is a link to the application >