Coronavirus Aid, Relief, and Economic Security Act (CARES Act) – Legislation is currently being proposed in Congress that could introduce a substantial stimulus package intended to reignite the economy and provide meaningful relief to individuals and business impacted by the recent coronavirus outbreak. We will update this site as more information becomes available.
Florida Small Business Development Center
As the only statewide provider of entrepreneurial and business development services, the Florida SBDC Network plays a vital role in Florida’s economic development by assisting entrepreneurs in every stage of the business life cycle. Since 1976, Florida SBDCs have assisted hundreds of thousands of emerging and growing businesses by providing the professional expertise, tools, and information necessary to make sound business decisions in a complex and ever-changing marketplace. In addition to the Florida SBDC’s core service offerings of consulting provided at no-cost, training, and business research, the Florida SBDC Network also provides a comprehensive toolkit of specialized services for qualifying businesses looking to accelerate market growth, including: Growth Acceleration, Capital Access, International Trade, Government Contracting, and Business Continuation.
The Florida Small Business Emergency Bridge Loan Program
These short-term, interest-free working capital loans are currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19. They 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.
Economic Injury Disaster Loans (EIDL)
Valuable resources from the U.S. Small Business Administration are currently available, such as low-interest federal disaster loan funds for working capital to small businesses and private, non-profit organizations who suffer substantial economic injury (in designated areas) as a result of COVID-19. You can visit www.SBA.gov/Disaster to view information on the application process. If you would like more information, please contact the SBA Disaster Assistance Customer Service Center at 1-800-659-2955 (TTY: 1-800-877-8339), email firstname.lastname@example.org, or visit https://covid19relief.sba.gov/.
ELA Loan Guide
Vystar and City of Jacksonville Loan Program
The City of Jacksonville and VyStar Credit Union are collaborating on a loan program to assist local small businesses affected by the COVID-19 response. The City’s contribution to the Small Business Lending Program is expected to be between $20 and $30 million, which will be used to provide a combination of grants, interest payments and potential aid toward the principal of the loan, with some elements tied to employee retention.
More information can be found here: https://vystarcu.org/About-Us/Newsroom/Coronavirus/Small-Business-Relief-Program. The application can be found under “Application Process” and should be emailed to JaxReliefLoan@vystarcu.org.