by Daniel E. Harrell, Shareholder and Chair of the firm’s General Litigation department. Daniel’s practice focuses primarily on labor and employment litigation and counseling, and non-compete and restrictive covenant litigation.
PENSACOLA (March 18, 2020) –
As the current situation related to the COVID-19 (“coronavirus”) pandemic continues to escalate, many local businesses have questions regarding the types of loans/relief available to them, who to contact related to these programs, and what information or documentation is needed to seek such assistance. Below is a quick summary of current programs potentially available to local businesses:
Florida Small Business Emergency Bridge Loan Program
On Monday, March 16, 2020, Governor DeSantis announced the activation of the Florida Small Business Emergency Bridge Loan Program. This program is available to small business owners in all Florida counties that experienced economic damage as a result of the COVID-19 outbreak.
Additional information, including application forms to print, can be found at the Florida Small Business Emergency Bridge Loan Program’s website: www.floridadisasterloan.org
Completed applications and required documents can sent by:
Florida SBDC Network Headquarters
c/o Florida Emergency Bridge Loan Process
220 West Garden Street, Suite 301
Pensacola, Florida 32502
Fax: (850) 696-2693
The Florida Small Business Development Center (SBDC) can also help with applications and answer questions about the bridge loan program. Our regional Florida SBDC can be contacted by phone at (850) 474-2528 or online at www.sbdc.uwf.edu
Federal Small Business Association Disaster Assistance Loans
The U.S. Small Business Administration is offering disaster relief loans for small businesses in designated areas that are experiencing substantial economic injury as a result of the COVID-19 outbreak. The $8.3 billion emergency funding bill, the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020, that was signed on March 6, 2020 helps fund this program.
As of March 17, 2020, no Florida counties have been designated eligible for this program. However, Governor DeSantis has requested an activation of the program and we should see a declaration from the SBA soon.
The loans are for up to $2 million with a 3.75 percent interest rate.
More information can be found at the SBA’s website:
Tax Credits for Paid Sick Leave and Public Health Emergency FMLA
Currently pending before the Senate is the Families First Coronavirus Response Act (“FFCRA”), which, if enacted into law, will require small businesses to provide expanded FMLA leave for coronavirus-related issues and to make portions of FMLA leave time paid as opposed to unpaid. Should an employer have to implement such protocols, there are a number of options available to the employer for tax credits and other relief. Below is basic information on such; however, as the bill has not yet been enacted, such possibilities are in flux:
Clark Partington’s employment team is equipped to answer questions related to your specific situation. With offices in Pensacola, Destin, Santa Rosa Beach, Tallahassee, and Orange Beach (Alabama), we are a full-service firm, serving the Gulf Coast. To reach one of Clark Partington’s employment attorneys, contact Daniel Harrell at (850) 208-7033 or email@example.com.
About Clark Partington:
Clark Partington is the largest business focused firm in the Florida panhandle with offices in Pensacola, Destin, Grayton Beach & Tallahassee. The firm also maintains a presence in South Alabama with an Orange Beach office. Since 1976 Clark Partington has grown to over forty lawyers and has served the people and businesses of Florida through an innovative and collaborative approach to practicing law. Our lawyers are consistently recognized for their service to the profession and excellence in the courtroom. More information about the firm’s practice, its attorneys, and recognitions may be found at www.clarkpartington.com.