Financial Help Available for Small Businesses During the Coronavirus Pandemic
March 18, 2020
There is plenty of uncertainty right now with the effects of the COVID-19 coronavirus both across the world and across our Tampa Bay community. Our first and foremost priority is to remain safe and healthy, and help those who are most affected by this virus.
To help do our part to eradicate this virus, social distancing and even self-quarantining have been recommended by all levels of authority. While this certainly helps slow and even stop the spread of this virus, it can have a major impact on local, small businesses.
Fortunately, the State of Florida and Hillsborough County are doing their parts to help alleviate some of these financial burdens.
Florida Governor Ron DeSantis activated a bridge loan program earlier this week for businesses impacted by COVID-19 coronavirus.
The Florida Small Business Emergency Bridge Loan Program, managed by the State Department of Economic Opportunity, will provide short-term, interest-free loans to small businesses experiencing economic hardship. The application period runs through May 8. The loans will help bridge the gap between the time economic impacts occurred to when businesses obtain other financial assistance, including payment of insurance claims or longer-term U.S. Small Business Administration loans. Up to $50 million has been allocated. Small business owners with two to 100 employees can apply for these short-term loans, which will be up to $50,000.
For more information and to apply, visit www.floridadisasterloan.org. For questions regarding the program, contact the Florida SBDC Network at 866-737-7232 or email Disaster@FloridaSBDC.org. Visit HCFLGov.net/FSBDC to request a phone or Skype appointment with a local representative.
Stay healthy, stay safe, and stay smart. Together we will prevail.
Here's to the fundamentals.
Based in Downtown Tampa, Fla., Nico Hohman is an award-winning real estate broker, business growth and workforce housing advocate. Nico currently serves as the Director of Commercial Real Estate with Tomlin Commercial. Mr. Hohman was the Founder of Hohman Homes and HHRG, residential and commercial real brokerages based in Tampa Bay with over 30 employees. Nico is the Chairman of the Hillsborough County Historic Resources Board; a Director at Stellar MLS in Orlando, Fla.; and a former member of the Board of Directors at Greater Tampa Realtors. Schedule a time for Nico to speak to your brokerage, company, or association by connecting with him on LinkedIn.