27 Sep Hurricane Irma Related Resources & Information for Businesses, Nonprofits, Homeowners and Renters.
Florida Small Business Emergency Bridge Loan Program: The Florida Department of Economic Opportunity (DEO) has launched the Florida Small Business Emergency Bridge Loan Program to support businesses impacted by Hurricane Irma to provide short-term, interest-free loans to small businesses that experienced physical or economic damage during the storm. To complete an application by the Oct. 31, 2017, deadline, visit www.floridadisasterloan.org.
- 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.
- Loan amounts can be from $1,000 to $25,000. The loan term is 90 or 180 days based on individual business circumstances. Loans will be interest-free for the loan term but must be repaid in full by the end of the loan term or penalties apply.
- The Florida SBDC Network is the point-of-contact for any for-profit business that needs an Emergency Bridge Loan. To locate your nearest SBDC, visit thelocation near contact the Florida Small Business Development Center Network (FSBDCN) at 850-898-3489 or email Disaster@FloridaSBDC.org.
State of Florida Business Damage Assessment: The State of Florida has initiated a survey which will help determine the physical and economic impact to businesses from Hurricane Irma.
- This survey is now live. If your business has been impacted by Irma, we encourage you to fill out the survey. This will assist State/Local authorities in determining the scope of impact and what type, if any, of additional financial assistance to provide to businesses.
- The survey is available in English, Spanish, and Creole.
- The English version is available online here: http://www.flvbeoc.org/index.php?action=bda
- Si usted prefiere completar la encuesta en español, esta disponible aquí: http://www.flvbeoc.org/index.php?action=bda&lang=sp
SBA Disaster Assistance: Businesses located in the impacted areas are eligible for both Physical and Economic Injury Disaster Loans from the U.S. Small Business Administration (SBA) for damages from Hurricane Irma.
- Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
- Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.
- Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes.
- Loans are also available for businesses that did not receive physical damage but were economically impacted due to the disaster.
- Interest rates are as low as 3.305 percent for businesses and 2.5 percent for nonprofit organizations, 1.75 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
- More information is available at: https://www.sba.gov/disaster-assistance
- Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://disasterloan.sba.gov/ela.
- It is recommended you apply with FEMA (www.disasterassistance.gov) before submitting a loan application to the SBA.
Heather Hines, Public Affairs Specialist (2017, September 19). Hurricane Irma Related Resources & Information for Businesses, Nonprofits, Homeowners and Renters [Blog Post]. Retrieved from https://content.govdelivery.com/accounts/USSBA/bulletins/1b8110f