Florida fund for small-business bridge loans is gone. 1,000 got $50K. 37,000 got nothing.
TALLAHASSEE -- Florida has given away all of its emergency loans to more than 1,000 small businesses, but roughly 37,000 others who applied for the relief program will lose out.
The one-year, $50,000 interest-free loans, known as bridge loans, are typically issued during hurricanes. Gov. Ron DeSantis activated the $50 million program to help companies survive the coronavirus pandemic.
The Department of Economic Opportunity, which manages the loans, announced the giveaways on Saturday. The Herald/Times has asked for the names of the businesses, but the state has not responded to the request.
“We appreciate Governor DeSantis’ steadfast commitment to helping small businesses sustain the economic impacts created by COVID-19,” the department’s executive director, Ken Lawson, said in a statement. “We are proud to stand with Florida businesses by providing them with additional resources during these challenging times.”
Read more: https://www.miamiherald.com/news/business/article242010521.html
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