Overview of Selected Disaster Assistance Programs Benefiting Florida Small Businesses including Agriculture, Aquaculture, and Fisheries (COVID-19)

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:

Video Resources:

SBA Small Business Disaster Loans Explained (Florida SBDC Network)
CARES Act 101 for Fisheries, Aquaculture, and Seafood Businesses (Sea Grant National Law Center)
Paycheck Protection Program: Insight into program basics and how your business may qualify (Farm Credit)
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What the tax and payroll provisions of the Families First Coronavirus Response Act & CARES Act mean for your business (Farm Credit)
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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.