Small Business Administration: Paycheck Protection Program
The SBA will resume accepting Paycheck Protection Program applications from participating lenders on Monday, April 27, 2020 at 10:30am EDT.
More information from the U.S. Small Business Administration regarding the Paycheck Protection Program.
Florida nonprofits can apply through the Florida Community Loan Fund.
Reemployment Assistance
Reemployment Assistance benefits are available to Floridians who have been negatively impacted as a result of the mitigation efforts to stop the spread of COVID-19. Eligible individuals include those who have lost their job through no fault of their own, are quarantined by a medical professional or a government agency, laid off or sent home without pay for an extended period by their employer, or caring for an immediate family member who is diagnosed with COVID-19.
Reemployment Assistance benefits, formerly known as Unemployment Compensation, can be filed online: www.floridajobsresources.com
Historic Cocoa Village Business Links
Online Marketplace
Business Listing
Small Business Grant Information
Learn more about whether your small business might qualify for some of these $5,000 to $10,000 grants and find out how you can apply today.
Information on Governor DeSantis’ Essential Services and Activities During COVID-19 Emergency Executive Order (20-91) :
Information from the State of Florida:
Governor Ron DeSantis has activated the Florida Small Business Emergency Bridge Loan Program to support small businesses impacted by COVID-19. The bridge loan program, managed by the Florida Department of Economic Opportunity (DEO), will provide short-term, interest-free loans to small businesses that experienced economic injury from COVID-19. The application period opens tomorrow, March 17, 2020 and runs through May 8, 2020. For more information, visit https://www.flgov.com/2020/03/16/governor-ron-desantis-activates-emergency-bridge-loan-program-for-small-businesses-impacted-by-covid-19/.
The CDC also has resources for businesses and employers.
FL Small Business Emergency Bridge Loan, Economic Injury Disaster Loan (EIDL) & Paycheck Protection Loan
Florida Bridge Loan - $50K to $100K, one year balloon payback, no interest. Short term, interest free working capital loans, not a grant. Need the following: 2 years completed personal tax returns, 2 years business tax returns, evidence of economic injury (usually that means a YTD Profit and Loss showing the revenue loss), evidence of 2 to 100 employees. Either apply online or mail to the central location. (Florida Department of Economic Opportunity, 107 E. Madison Street, MSC-160, Tallahassee, FL 32399-4120)
SBA Economic Injury Disaster Loan (EIDL) - Up to $2M, up to 30 years, can be used to pay back the Florida Emergency Bridge Loan. Apply directly at the SBA. There is also a grant aspect of this where if you apply the SBA will provide some money up front.
NOTE: all of the details relating to the immediate grant funds may not be available since the CARES act just passed.
Application Loan
SBA Webinar on EIDL
SBA Paycheck Protection Loan – this is an SBA 7A loan where businesses would apply at a bank. Not all the lenders are noted yet, but we suggest you start at the bank that you are doing business with. Details are still be finalized.
US Chamber Information Sheet
Summary from Senator Rubio
Inside the CARES Act: Emergency EIDL Grants
Many businesses are calling and eager to learn more about the granting portion of the CARES Act. Here is what we know so far, but keep in mind the implementation of this is still being worked out.
On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.
Those entities include small businesses, sole proprietors, private non-profits, independent contractors, cooperatives, ESOPs, and tribal units, all with under 500 employees that apply for loans in response to the COVID-19. Upon verification, the government, through lending institutions that work with the SBA, will provide grants up to $10,000. The applying entity has to have been in business for at least a year, which may be waived, but certainly before January 31, 2020.
If you wish to apply for the Advance on your EIDL, please use the link below and fill out the form as soon as possible. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.
SBA Streamlined Application
Coronavirus Emergency Loans Guide and Checklist for Small Businesses and Nonprofits
COVID-19 Business Resources
Below are some resources that may assist or inform you, your family and employees during this uncertain time. For more resources visit: CocoaBeachChamber.com/covid-19/
RE-EMPLOYMENT ASSISTANCE
FloridaJobs.org
PRICE-GOUGING HOTLINE
MyFloridaLegal.com
CORONAVIRUS TAX RELIEF
Irs.gov/coronavirus