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COVID-19 Business Disaster Recovery Assistance

Has your business been impacted by the Coronavirus (COVID-19)?

The Florida SBDC at FIU is here to provide access to the disaster capital and resources your business needs to recover, rebuild and grow.

If your business has been adversely impacted by COVID-19 you may eligible and qualify for a no-interest, no-fee state and/or a low-interest federal business disaster loan. In this section of our website, you will find a wealth of information to help you with your business recovery efforts, including details about Federal and State Small Business Disaster Loan Programs; information on Where to Find Assistance; Additional Resources; and more. Contact us for information about eligibility, loan program details, and how to apply.


Federal and State of Florida Disaster Loans

U.S. SBA Economic Injury Disaster Loan (EIDL)

In response to the Coronavirus (COVID-19) pandemic, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan. The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to coronavirus (COVID-19).

On March 24, 2021, SBA announced that starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.

Contact us for information about eligibility, loan program details, and how to apply. EIDL Deadline: December 31, 2021

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Restaurant Relief Fund

One of the hardest-hit industries during the COVID-19 pandemic has been restaurants, with shutdowns and restrictions cutting off revenue opportunities. The newly passed American Rescue Plan Act (ARPA) aims to help restaurants, bars and related businesses with a new grant program called the Restaurant Revitalization Fund (RRF).

The RRF will offer $28.6 billion in grants to hard-hit restaurants and bars, with restaurants able to apply for grants based on lost revenue. Additionally, $5 billion of that total will be set aside expressly for businesses with 2019 gross receipts of less than $500,000.

The ARPA explicitly names the following types of establishments that should be eligible: "restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products."

U.S. Chamber of Commerce
U.S. Small Business Administration

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Our Impact

$1.33 Billion

in additional sales generated

$144.5 Million

in capital accessed via loans & equity investments

3,500

business owners assisted via no-cost one-on-one consulting

9,990

jobs created, retained or saved

193

businesses launched successfully

96.8%

client satisfaction (2019)

DATA IS FOR THE FIVE-YEAR PERIOD FROM JAN. 1, 2014 TO DEC. 31, 2019 AND BASED ON ANNUAL CLIENT SURVEYS CONDUCTED BY FLORIDA SBDC NETWORK HEADQUARTERS AT THE UNIVERSITY OF WEST FLORIDA.

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