FACT SHEET
> Purpose: A short-term loan program for small businesses in Monroe/Miami-
Dade/Broward Counties that are experiencing difficulty surviving or re-starting as a result of Hurricane Wilma’s physical impact on the business.
> Amount: The minimum loan will be $1,000, the maximum $25,000.
> Term: 90 or 180 days. The term will be based on individual business circumstances.
> Interest: Loans will be interest-free for the period established for each individual loan.
> Eligibility: Those eligible to apply for loans under the program will include:
Small businesses established in Monroe/Miami-Dade/Broward Counties prior to October 17, 2004 who have sustained physical damage due to Hurricane Wilma.
b. Minimum number of employees - two. (Self employed individuals may be
eligible on a case-by-case basis.)
c. Maximum size of business - 100 employees.
d. Need for the loan and use of proceeds must be directly related to the physical
impact of the storm.
Holders of current Saltwater Products / Seafood Dealer / Shellfish Processing Plant / Charter Boat Captain licenses or certification with latest 2 years of landings information.
Those small businesses who have repaid all prior Florida Small Business Emergency
Bridge Loans.
> Loan Recipient: Loans will be made to individuals who are at least 51% owners of the
business. Only one loan per individual, and/or per business will be available.
> Use of Proceeds and Dedicated Sources of Repayment: Borrower will be required to
sign agreements that (a) proceeds of this loan will be used only for purposes of maintaining or restarting the business activity in the designated area, and (b) loans will be repaid from insurance proceeds or proceeds of other financing obtained in connection with the effects of the storm.
> Applications under this program will be accepted through December 16, 2005
contingent on the availability of funds. Attached is a list of sites where loan application forms may be obtained and dropped off.
Orion Banks
First State Banks
Keys Federal Credit Unions
TIB locations
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