We are

Get Business Advice You Can Bank On.

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

Paycheck Protection Program Loan Guarantee and Forgiveness

Passed by Congress, and signed by the President, the Coronavirus Aid, Relief, and Economic Security (CARES) Act established the Paycheck Protection Program intended to provide eligible small businesses with eight weeks of cash-flow assistance through 100 percent federally guaranteed loan from the U.S. Small Business Administration. To apply for forgiveness, small businesses must submit documentation regarding the eligible uses of loan funds (payroll costs, mortgage interest, utilities, etc.), a certification that such documents are true and correct, as well the amount to be forgiven, and any other documentation deemed necessary by the U.S. Small Business Administration. The amount any small business is eligible to borrow and be forgiven is 250 percent of their average monthly payroll expenses, up to a total of $10 million.

Contact us for information about eligibility, loan program details, and how to apply. Application Filing Deadline: June 30, 2020

apply here

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

The President has activated a presidential disaster declaration in response to COVID-19. Impacted businesses, small agricultural cooperatives, and private nonprofit organizations may apply for low-interest loans through the U.S. Small Business Administration's Economic Injury Disaster Loan (EIDL) Program. If your business has suffered substantial economic injury, you may qualify for an EIDL.

EIDLs provide working capital to help businesses survive until normal operations resume after a disaster. The SBA can provide up to $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred.

Contact us for information about eligibility, loan program details, and how to apply. Application Filing Deadline: December 18, 2020

apply here

Florida Small Business Emergency Bridge Loan (EBL)

The Florida Small Business Emergency Bridge Loan Program provides short-term, interest-free and fee-free loans to eligible businesses impacted by COVID-19. Administered by the Florida Department of Economic Opportunity (DEO) in partnership with the Florida SBDC Network and Florida First Capital Finance Corporation (FFCFC), an Emergency Bridge Loan program helps small businesses bridge the gap between the time of disaster and when a small business can secure long-term and permanent financial assistance, such as a U.S. Small Business Administration Economic Injury Disaster Loan or proceeds from the Paycheck Protection Program.

Contact us for information about eligibility, loan program details, and how to apply. Application Filing Deadline: May 8, 2020

apply here

Our Impact

$121.3 M

In Capital Accessed

2,841

Business Owners Assisted

147

Businesses Launched

2,697

Participants in Educational Programs

DATA IS FOR THE FIVE-YEAR PERIOD FROM JAN. 1, 2014 TO DEC. 31, 2018 AND BASED ON ANNUAL CLIENT SURVEYS CONDUCTED BY FLORIDA SBDC NETWORK HEADQUARTERS AT THE UNIVERSITY OF WEST FLORIDA.

Top