Small business owners and nonprofit leaders across 22 Florida counties can now apply for low-interest federal disaster loans following a series of damaging freezes earlier this year. The U.S. Small Business Administration (SBA) opened the application process this week to address significant economic losses caused by frost, ice, and freezing temperatures that gripped the state between January 23 and February 5.
The disaster declaration encompasses a wide geographic area, including Bay, Brevard, Calhoun, Citrus, Gadsden, Hernando, Hillsborough, Holmes, Indian River, Jackson, Levy, Liberty, Marion, Martin, Okeechobee, Osceola, Pasco, Pinellas, Polk, St. Lucie, Sumter, and Washington counties.
Under the SBA’s Economic Injury Disaster Loan (EIDL) program, eligible small businesses, small agricultural cooperatives, and nurseries can seek funding to stabilize their operations.
“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”
While the program targets the broader business community, federal guidelines specify that the SBA cannot provide these particular loans to traditional agricultural producers, farmers, or ranchers, with the exception of aquaculture enterprises.
However, private nonprofit organizations that suffered financial setbacks during the freeze are encouraged to apply.
These loans are designed to provide working capital rather than repair physical structures. Business owners can use the funds to cover fixed debts, meet payroll obligations, settle accounts payable, and handle other recurring bills that have become difficult to pay because of the weather-related downturn.
Notably, a business does not need to have suffered physical property damage to qualify for the economic relief.
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