FFC Helps Hundreds of Florida Businesses with Bridge Loans

Florida First Capital has so far aided more than 280 Florida businesses that were impacted by recent hurricanes. At the request of the Governor's Office, FFCFC is administering the largest portion of the State’s small business emergency bridge loans for businesses damaged throughout Florida by Charley, Frances and Ivan..

To date, FFC is managing all back-office aspects of more than $16.7 million in bridge loans to be used for maintaining or re-starting businesses in Bay, Escambia, Walton, Okaloosa, Lake, Orange, Osceola, Polk, Santa Rosa Seminole and Volusia counties. The interest free loan amounts range from $1,000 to $25,000 and are for terms of 90 to 180 days. Eligible businesses must have been established for at least one year, have between two and 100 employees and have experienced physical damage due to one of the three storms.

The loans are intended to be repaid from insurance proceeds or proceeds of other financing obtained in connection with the effects of the storms. More information about the Bridge Loan program is available at http://www.myflorida.com/myflorida/hurricane

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