Help for Businesses Impacted by Lake Okeechobee Red Tide

Was your small business recently impacted by Lake Okeechobee algae blooms, discharge, and red tides? If so, you might qualify for up to $50,000 in loans thanks to a recent “Florida Small Business Emergency Bridge Loan Program” activated on August 13th by Governor Rick Scott.

Here are the main requirements you must meet in order to apply for this loan:

  • Have a business that was impacted economically or physically by the damage
  • Run a for-profit privately held business
  • You must have opened your business prior to July 9, 2018
  • Have a minimum of two and a maximum of 100 employees
  • Have been impacted directly by these events

There are additional requirements and exceptions that should be read clearly prior to submitting an application - you can find those here.

If you think that you might be eligible for this loan, act quickly! The registration period for this loan expires on September 7, 2018. You will also need to prepare some supporting documents (link here), so make sure to have those in order prior to sitting down to fill out this application. We also want to point out that this application and supporting paperwork has to be submitted to your local Florida Small Business Development Center (here’s the closest one to you).

As always, The Dellutri Law Group is looking out for you and your business - we hope that this information helps some of you that might be facing damage incurred by the recent red tide and algae disaster.

This interest-free loan program is currently available to small business owners located in designated disaster areas that experienced physical and/or economic damage as a result of these events. Small business owners can qualify for up to $50,000 per eligible business.