- The state of Florida has activated the Small Business Emergency Bridge Loan Program following catastrophic floodwaters in South Florida.
- Gov. Ron DeSantis made $5 million available for small businesses directly impacted by the floods and resulting shutdowns.
- Businesses in Broward County are eligible to apply for loans of up to $50,000 through the program, which is designed to “bridge the gap” between the time a disaster occurs and the time the business secures longer-term funding for recovery.
The state of Florida has activated its Small Business Emergency Bridge Loan Program, as announced by Gov. Ron DeSantis, making $5 million in funds available to small businesses affected by recent severe flooding in South Florida.
The program offers short-term, zero-interest loans to small businesses that have experienced economic injury or physical damage as a result of the flooding.
Businesses in Broward County are eligible to apply for loans of up to $50,000 through the program, which is designed to “bridge the gap” between the time a disaster occurs and the time the business secures longer-term funding for recovery.
The program’s re-opening comes after DeSantis declared a State of Emergency in Broward County last week due to catastrophic flooding caused by record-breaking rainfall.
A subsequently issued Executive Order reported that critical infrastructure, including major state and county roadways, airports, hospitals, and schools were impacted, culminating in the activation of the Florida National Guard to assist in emergency recovery.
According to the Florida Department of Emergency Management, an average of 4 to 8 inches of rainfall was recorded over southeastern Broward County and northeastern Miami-Dade County, with peak rainfall of 25 inches recorded throughout the Fort Lauderdale metro area.
As floodwaters receded, residents were faced with an acute gas shortage following bouts of shipping shortages and panic buying. As of Thursday afternoon, 47 percent of gas stations in the Miami and Ft. Lauderdale metropolitan areas and 27 percent of gas stations in West Palm Beach were without fuel, according to GasBuddy’s fuel shortage tracker.
The gas shortage could be partially attributed to the closure of gas terminals at Port Everglades, though Broward County emergency management reported on Friday afternoon that “nearly all” terminals are operational again.
To help alleviate the shortage, Commissioner of Agriculture Wilton Simpson issued an emergency rule on Friday that allows for the extended use of winter gasoline beyond May 1, 2023, which would typically be prohibited under U.S. Environmental Protection Agency rules.
“Floridians need fuel now and expanding the waiver to all of the counties we requested will bring relief to South Florida and head off potential fuel disruptions in other areas of our state,” said Simpson.
The loan program was last activated in October following the landfall of Category 5 Hurricane Ian. The governor made $50 million available, with at least $10 million allocated for agricultural producers in affected areas.
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