More than $10M in small business bridge loans granted to Hurricane Helene victims in Florida

The roof of a Sunoco gas station sits on its side outside of Perry, Fla., Friday, Sept. 27, 2024, after Hurricane Helene slammed the West coast of Florida Friday, Thursday night. (Ashleigh Lucas/WUFT News)

FloridaCommerce has helped hundreds of businesses in the wake of Hurricane Helene, and state officials are pointing out the same can happen for small businesses adversely affected by Hurricane Milton.

FloridaCommerce officials issued a news release Sunday noting that $10 million has already been distributed in the form of the Florida Small Business Emergency Bridge Loan Program for Hurricane Helene relief alone. That storm slammed Florida’s Big Bend area on Sept. 26. It pounded much of Florida’s Gulf Coast before moving inland and causing havoc through inland areas of Georgia, the Carolinas, and Tennessee.

Thus far, over 240 small businesses in Florida have received bridge loans for Helene relief. The emergency loans are designed to “bridge the gap” of financial losses for businesses until they can return.

“Loans made under this program are short-term, zero-interest, personal loans using State of Florida funds,” the FloridaCommerce news release said. They are not grants, and the approved applicant must repay loans.

State officials said more loans are still available for Hurricane Helene victims and “eligible small businesses with less than 100 employees, including sole proprietors.”

For Hurricane Helene victims, counties eligible for the emergency bridge loan program include Alachua, Baker, Bay, Bradford, Brevard, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Escambia, Flagler, Franklin, Gadsden, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Holmes, Jackson, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Monroe, Nassau, Okaloosa, Okeechobee, Orange, Osceola, Pasco, Pinellas, Polk, Putnam, Santa Rosa, Sarasota, Seminole, St. Johns, Sumter, Suwannee, Taylor, Union, Volusia, Wakulla, Walton, and Washington counties.

Small business owners can apply for $50,000 in loans, and agricultural and aquacultural businesses can seek up to $100,000 in loans.

The reminder for Hurricane Helene small business relief comes only days after FloridaCommerce activated the same program for Hurricane Milton victims. That bridge loan program became available on Thursday.