Global governments are deliberately shutting down large parts of their economies in an attempt to slow the spread of the Corona Virus.

This is unprecedented and disruptive.  To help companies get through this critical time, the state of Florida and the Federal Government are putting resources in place to help stimulate the economy and help small business get back on their feet.  The situation is rapidly evolving. Other programs will surely be forthcoming. We will keep you up on further developments.

Here are links to two the programs currently available for possible economic assistance to small businesses.


For Floridians, Governor Ron DeSantis declared a state of emergency on March 9 by executive order and activated the Florida Small Business Emergency Bridge Loan Program on March 16, 2020.  Funds for small businesses in all Florida counties were made available to borrow interest-free for one year under this program.  See

These 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.

Small business that maintain a place of business in the state of Florida, before March 9, 2020, and suffered economic injury as a result of the disaster can qualify.  The program is for short-term loans up to $50,000 with up to one-year of free interest.  After that, the interest rate rises to 12% per annum on the unpaid balance, until the loan balance is repaid in full.  Additional requirements are that the businesses have between two and one hundred employees.  Application must be submitted by May 8, 2020, and are subject to funds being available.  Florida businesses can apply at



The U.S. Small Business Administration (SBA) has never faced a challenge like this virus; however, the SBA is stepping up to help small business owners who are suffering financially during these unprecedented times.

The SBA is offering low-interest federal disaster loans for working capital to small businesses suffering a substantial economic injury due to COVID-19.  You can download the Instructions & Paper Forms via the website at

Here’s the official guidance on the program from their website:

“The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).  Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act was recently signed by the President, an Economic Injury Disaster Loan declaration.”

Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-10).  This will apply to current and future disaster assistance declarations related to Coronavirus.

The SBA will coordinate with state Governors to provide low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19).

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

Here are additional links to the information about the available program through the SBA;;  and

For either the Florida or SBA loan program, the terms of the loans may vary.  Initially, you may need two to three years of business and personal tax returns, other financial documents, and the required application forms.

In addition to these programs mentioned above, Congress may be preparing additional plans for a loan forgiveness program, which should provide businesses with additional payroll, sick time and family leave assistance.

We will continue to keep you apprised of new developments.  We hope you and your family are safe and well.  If you have any questions or need our assistance, please feel free to contact us.