DISASTER FINANCIAL SUPPORT

Funding support is available through both federal and state programs for DeSoto County businesses, as well as homeowners.

The Florida Small Business Development Center Network, along with the U.S. Small Business Administration, are working with local businesses.

AT THE STATE LEVEL

Florida Small Business Emergency Bridge Loan

The Florida Department of Economic Opportunity (DEO) has activated the Florida Small Business Emergency Bridge Loan (EBL) Program.

SBDC representatives recently stopped through downtown Arcadia to assist local businesses. They were only in operation in town from Oct. 11-15.

APPLICATIONS can still be filled out, however, online at www.FloridaJobs.org/EBL  where more information is also available..

DEADLINE: December 2, 2022.

The EBL program provides short-term, zero-interest loans to small businesses that experienced economic injury or physical damage due to Hurricane Ian.

Loans approved through program are intended to “bridge the gap” between the time a disaster impacts a business, and when a business has secured longer term recovery funding, such as federally or commercially available loans, insurance claims, or other resources.

Eligible small businesses with two to 100 employees may apply for loans of up to $50,000 through the program.

Other stipulations for applicants:

• A business must be located in Florida.

• A business must have been established prior to September 24, 2022.

• A business must have been located in an eligible county.

• A business must have been economically or physically damaged by Hurricane Ian.

• A business must have a credit score of 600 or above and have repaid all outstanding EBLs.

AT THE FEDERAL LEVEL

U.S. SBA Business Physical Disaster Loan

Loan amount max: $2 million

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

DEADLINE: November 28, 2022.

U.S. SBA Economic Injury Disaster Loan (EIDL)

Loan amount max: $2 million

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers EIDLs for funds up to $2 million to help meet working capital needs caused by the disaster.

Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

DEADLINE: June 29, 2023.

FEMA Disaster Recovery Center

SBA representatives are available at the Disaster Recovery Center (DRC) in DeSoto County, operated by the state of Florida and FEMA.

DRCs provide disaster survivors with information from Florida state agencies, FEMA and the U.S. Small Business Administration. Survivors can get help applying for federal assistance and disaster loans, update applications and learn about other resources available.

The DRC is located at the DeSoto County Library:

125 N Hillsborough Ave., Arcadia, Fl 34266

Center is open 8 a.m. to 7 p.m. seven days a week.

Other centers are operating in the following locations, 9 a.m. to 6 p.m. seven days a week unless otherwise noted.

Federal loan applicants can apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/ and should apply under SBA declaration # 17644.

To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app.

If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362.

Those who use 711-Relay or Video Relay Services should call 800-621-3362.

Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955.

If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services or send an email to DisasterCustomerService@sba.gov.

Loan Applications can also be downloaded from sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.