Alachua: 352‑225‑3920 | Broward: 954‑423‑4469
Alachua: 352‑225‑3920 | Broward: 954‑423‑4469
Serving Northern, Middle & Southern Districts Of Florida

Florida's Small Business Disaster Loans

Last Updated: Friday, April 24, 2020

On March 1, 2020, Executive Order Number 20-52 was issued by our Florida Governor concerning small business disaster loans. Small businesses should apply before May 8, 2020. The deadline may be extended depending on how COVID-19 spreads.

These loans assist small business owners in the time between the disaster striking and recovery, receiving of federal disaster assistance, businesses starting again with paying customers/clients, or insurance money being received. The loan must be repaid. These loans are short-term, one-year loans usually with a 12% APR that are intended to bridge the gap in money being received. A small business must apply and qualify for the loan. The small business must show that the business has other financial resources to receive the loan. The small business must be a for-profit company, be privately held, have two to one hundred employees, and have a business address in Florida. For the COVID-19 small business disaster loans, the business must have started before March 9, 2020.

The small business must be able to show that COVID-19 has caused an economic injury. The small business must agree, as a part of the application, that the loan will be used for only maintaining or restarting the business.

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