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The original item was published from 9/6/2017 1:50:01 PM to 9/6/2017 1:51:01 PM.

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Posted on: September 6, 2017

[ARCHIVED] Disaster Preparedness Bridge Loan Program from Business Development Board of Palm Beach County

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As we all continue to monitor Hurricane Irma, the Business Development Board (BDB) has a Bridge Loan program in place for area businesses if Palm Beach County suffers severe damage.  Should the Governor Rick Scott declare Palm Beach County a disaster after assessment of the area, a Bridge Loan program will be activated.

  • SBDC will provide a link to the bridge loan application form to partners, to be communicated to businesses 
  • SBDC loan committee reviews packages received from applicants and recommends loan decisions.  Florida First Capital (FFC) receives/reviews SBDC loan committee recommendations. FFC issues payment and SBDC disburses funds to loan recipients.
  • Bridge Loan – up to $25,000, term up to 6 months, 0% interest, no payment until end of loan term
  • SBA Loan – up to $2 million, term up to 30 months, interest rate 3% to 8%, physical and economic damage
  • FEMA – will be communicated by DEO if a disaster plan/allocation has been assigned

Note that these disaster resources are loans. The BDB is not aware of grants or forgivable loans available at this time (per SBDC, DEO).

Loan Application Form
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