Florida SBDC Network Headquarters (Pensacola, Fla.) – Following President Obama’s major disaster declaration, Florida businesses in adversely affected and contiguous counties that have been impacted by Hurricane Matthew may now apply for low-interest loans through the U.S. Small Business Administration (SBA).
Through the declaration, businesses and nonprofits in Flagler, Putnam, St. Johns, and Volusia counties are eligible for Business Physical Disaster Loans and Economic Injury Disaster Loans, not to exceed a combined maximum of $2 million. Small businesses and most private nonprofit organizations in Alachua, Bradford, Brevard, Clay, Duval, Lake, Marion, Orange, and Seminole counties are eligible to apply for SBA Economic Injury Disaster Loans.
Business Physical Disaster Loans are intended to help repair or replace disaster-damaged property. Businesses and nonprofit organizations may apply for up to $2 million to repair or replace property, including real estate, equipment, inventory, machinery, and other business assets.
Businesses in qualifying adjacent counties may apply for up to $2 million for working capital through the SBA Economic Injury Disaster Loan program. The Economic Injury Disaster Loan program provides working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations meet financial obligations and operating expenses through the disaster recovery period.
For questions regarding the SBA’s disaster loans, and how the Florida SBDC Network can help, please contact (850) 898-3489.