On Friday, to mark the end of National Small Business Week, Gov. Ron DeSantis unveiled a program to help small businesses hurt by Hurricane Michael which hit the Panhandle in October.
DeSantis announced the “Rebuild Florida Business Loan” program which is funded by $40 million in state and federal funds.
“The Rebuild Florida Business Loan program, a resiliency loan fund provided through a partnership with the U.S. Economic Development Administration (EDA) and administered by the Florida Department of Economic Opportunity, will target industries that have been identified by the state as key strategic markets for future growth and will focus on creating and enhancing the diversification and resiliency of Florida’s economy,” the governor’s office noted.
“We are committed to providing support to Florida businesses before, during and after natural disasters,” DeSantis said on Friday. “By building a business climate with smart regulation, low taxes and a steady, talented workforce, we can ensure businesses are successful and resilient. The Rebuild Florida Business Loan program will help all Florida communities impacted by Hurricane Irma recover and rebuild.”
“Governor DeSantis has made it clear that helping Florida families, businesses and communities rebuild is a top priority,” said Ken Lawson, the executive director of the Florida Department of Economic Opportunity. “The Rebuild Florida Business Loan program is the next step in helping businesses recover from the impacts of Hurricane Irma. This program will give businesses access to critical financing that will allow them to reinvest in their businesses and create jobs for hardworking Florida families.”
According to the governor’s office, the new program “can provide up to $500,000 in financing for the following business purposes: inventory purchases, construction or renovation, working capital needs, capital start-up loans, machinery and equipment purchases, equipment financing and more.”