Business Damage Assessment SurveyThe Business Damage Assessment Survey is a critical piece of DEO’s efforts to help gather the information needed to evaluate and access tools to help businesses potentially lessen the impacts of COVID-19 and help the economy recover. To submit a survey response, please visit FloridaDisaster.biz.Florida Small Business Emergency Bridge Loan ProgramDEO works with the Florida Small Business Development Center (SBDC) Network and Florida First Capital Finance Corporation to provide cash flow to businesses economically impacted by COVID-19. The short-term, interest-free loans of up to $50,000 to help bridge the gap between the time the economic impact occurred and when a business secures other financial resources. Currently, $50 million has been allocated for the program. The application period opened March 17, 2020 and runs through May 8, 2020. Visit FloridaDisaster.biz to learn more.Small Business Administration (SBA) Economic Injury Disaster LoanThe SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue businesses may be experiencing. For more information, visit FloridaDisaster.biz.Short-Time Compensation ProgramThe Short-Time Compensation Program is designed to provide prorated Reemployment Assistance benefits to employees that have had work hours and earnings reduced as part of a Short-Time Compensation plan to avoid a total layoff of some employees. This program allows Employers to avoid the expense of recruiting, hiring, and training new workers when business conditions improve. While employees are spared the hardships of full unemployment, employers are able to retain employees who can resume high production levels when business conditions improve. More about the Short-time Compensation Program can be found on FloridaJobs.org.
Gulf Power Company contributes $250,000 to Florida SBDC for small business grant program to provide relief during ongoing COVID-19 pandemic
Grants will assist for-profit small businesses across Northwest Florida
The Florida Small Business Development Center (SBDC) at the University of West Florida (UWF) today launched the Northwest Florida Small Business COVID-19 Recovery Grant Program to assist businesses across our communities impacted by the ongoing COVID-19 pandemic. The grant program was made possible by an initial contribution of $250,000 from Gulf Power through its economic development fund.
One important distinction to note is that this is a grant program versus a loan, which means that if approved, a small business will not need to pay back this assistance.
The grant program will provide up to $5,000 to help offset losses that small businesses may currently be experiencing as a result of the COVID-19 pandemic. Grant applications will be accepted April 8-15, 2020, and are available for download at www.sbdc.uwf.edu. Eligibility requirements include:
A for-profit, privately held small businesses established on, or before January 1, 2019.
Must maintain a place of business, including a physical location, within eligible Northwest Florida counties.
Eligible Northwest Florida counties include: Escambia, Santa Rosa, Okaloosa, Walton, Holmes, Jackson, Washington, Calhoun, and Bay.
Must have 2 to 10 employees.
Must have a demonstrated reduction in sales revenues of 25% or more due to the loss of business income related to COVID-19.
For more information about the program or assistance with completing the grant application, contact the Florida SBDC at UWF at 850-586-7802 or firstname.lastname@example.org.
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