Bridge loan program available for Red Tide designated areas

NEWS RELEASE

The logo of Indian River County government.
On October 17, 2018, Governor Rick Scott issued Executive Order 18-282 declaring Indian River County as one of the Florida counties impacted by the Red Tide crisis and including it in those counties declared as a state of emergency.
Through the efforts of both Senator Mayfield and Representative Grall, Indian River County businesses are now eligible to participate in the Florida Small Business Emergency Bridge Loan Program. This program has been created to provide short term aid to small businesses through a short-term interest free loan. Qualified applicants are for-profit, privately held small businesses that maintain a place of business within the state of Florida. All qualified applicants must have been established prior to August 13, 2018 and have suffered physical or economic injury as a result of the Red Tide. Qualified small business applicants must be an employer with a minimum of 2 and a maximum of 100 employees.
Businesses that qualify are eligible for up to $50,000 loans. The loan terms include an interest free loan for up to 180 days with an interest rate of 18% per annum for any unpaid balance. The deadline for applications is December 16, 2018.
For an application and information , please go towww.floridadisasterloan.org
For more information and help completing the form, call Tom Kindred, Regional Director with the Small Business Development Center (SBDC), at 772-462-7087 or email him at tkindred@irsc.edu

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