Photos courtesy UF/IFAS
The negative impact of the COVID-19 Pandemic on Florida’s major economic sectors of agriculture, tourism, and marine industries has been devastating. There are several disaster relief programs provided from the state of Florida and from the federal government to support business owners and the individuals they employ.
The best place to start an application for disaster aid is to visit with your bank or lender and the Florida Small Business Development Center (SBDC). If possible, please contact local representatives by telephone or email and don’t just rely on internet-based applications.
To help guide individuals, we’ve created a summary table that provides background information on each program and should help get you started with the process. We have prioritized programs that are well-funded and widely available.
Click on the program title to be taken to source information about each disaster relief program. In addition, for several of the programs you can click on ‘Additional Information’ to access links to additional web resources specific to those programs that provide more information on the program and its application process.
Additional information and resources will be added as we fully develop this webpage. If you need additional assistance, you can contact your local UF/IFAS Extension office.
Note: If using a mobile device, turn device on side to best view the information on this page.
| Program (click title for details) | Type(s) | Eligibility | Financial Assistance | Description |
|---|---|---|---|---|
| Paycheck Protection Program Additional Information | Loan | Less than 500 employees: · Small business · Self-employed · Independent contractors · Nonprofits · Veterans organizations | 250% of average monthly payroll costs up to $10 million | Designed for business to keep workers employed by providing assistance with payroll. The loan is forgivable if the borrower meets certain requirements. NOTE (4/22/20): For the most up-to-date information on this program, including funding, please visit the U.S. Treasury page: https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses |
| SBA Economic Injury Disaster Loans (EIDL) & Advance Additional Information | Loan | Less than 500 employees: · Small business · Sole Proprietors (with or without employees) · Independent Contractors · Cooperatives · Employee-owned business · Nonprofits | Up to $2 million | The SBA EIDL Program provides small business owners with working capital loans of up to $2 million to overcome the temporary loss of revenue they are currently experiencing. Includes a potential $10,000 advance that does not have to be repaid. |
| SBA Debt Relief Additional Information | Loan Relief | Less than 500 employees: · Small business | Six months of interest, principal, and fees on qualifying loans are paid by SBA | This program provides immediate relief to small businesses with pre-existing and new non-disaster SBA loans by having the SBA pay all interest, principal, and fees on these loans for six months. |
| SBA Express Bridge Loans Additional Information | Loan | Less than 500 employees: · Small business | Up to $25,000 | Allows small businesses with a current business relationship with an SBA Express Lender to access additional funding with less paperwork. |
| Reemployment Assistance | Direct Payment | · Laid off employees | Additional $600 per week of Federal Pandemic Unemployment Compensation. | Unemployment insurance has been increased to include more unemployed persons and increase benefits ($600 extra per week) |
| CARES Act Economic Impact Payments | Direct Payment | · Individual | Up to $1,200 for individuals, $2,400 for married couples filing jointly, and $500 per qualifying child. The payment amount decreases for higher income individuals and families | Stimulus payments to U.S. citizens. Check the status of your economic impact payment here: www.irs.gov/coronavirus/get-my-payment |
| IRS Employee Protection Credit | Tax Credit | · Employers business fully or partially suspended due to COVID-19 · Employer gross receipts below 50% of comparable quarter in 2019 | Credit is 50% of qualifying wages paid up to $10,000 in total. Wages considered are not limited to cash payments, but also include a portion of the cost of employer provided health care. | Treasury Department and the Internal Revenue Service launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. |
Additional specific disaster funding for Agriculture and Fisheries will be developed in the coming months much like we have seen in the past with natural disasters like hurricanes.
Important Assistance Resources:
- Florida SBDC COVID-19 Business Disaster Recovery Assistance (We are Here to Help!)
- SBDC Small Business Guide to COVID-19
- SBA List of Lenders
- IRS: Employee Retention Credit available for many businesses financially impacted by COVID-19
- UPDATE: Paycheck Protection Loans Available to Farmers, Regardless of Revenue, Apply Now (US Farm Bureau)
- Tampa Bay COVID-19 Updates
- COVID-19 Updates for Shellfish Growers
- Coronavirus Food Assistance Program (Added May 14, 2020)
- CARES Act Funding for Fisheries (Added May 14, 2020)
- US Chamber of Commerce
- The Small Business Owner’s Guide to the CARES Act (US Senate)
- CARES Act Tip Sheet for Self-Employed Individuals (Sea Grant Law Center; April 23, 2020)
- National Association of Charterboat Operators
- Florida Farm Bureau COVID-19 Resources
- Information on Coronavirus Food Assistance Program
- Información sobre préstamos para pequeñas empresas — Coronavirus (COVID-19)
Video Resources:
Legal Disclaimer: This site is to serve as a guide only and may not be a complete list. It is the applicant’s responsibility to check with the loan/benefit program for the most up-to-date information.