Loan Program Instructions



Eligibility & Loan Process
Eligible Producers
  • Be a resident citizen of the state of Florida who is and has been actively engaged in the growing, growing and shipping, or growing and processing of field crops in the designated areas, including, but not limited to, peanuts, cotton and soybeans.
  • Be a producer with documentation showing they are the owner or leaseholder of the parcels of land in production, which must be provided at the time of application.
  • Be located in a Florida county designated as a disaster area. The designated areas for Hurricane Michael are: Bay, Calhoun, Franklin, Gadsden, Gulf, Holmes, Jackson, Jefferson, Leon, Liberty, Okaloosa, Wakulla, Walton and Washington counties.
  • Be established prior to Oct. 7, 2018, the date of the designated disaster.
  • Be able to demonstrate physical damage and/or economic injury as a result of the designated disaster.  Note: The need for the loan and use of proceeds must be directly related to the physical damage and/or economic injury caused by Hurricane Michael.

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Loan Requirements
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    • Loans will be made to individuals who, individually or collectively, own at least 51% of the equity of the farm.
    • A borrower must validate they did indeed suffer the level of loss claimed and that the losses were caused by Hurricane Michael.
    • A borrower will be required to document losses with photographs of damage and prior year production records compared to the current year.  Prior year records may be an average of the last 5 years of production.
    • A borrower must provide a farming history and crop description.
    • A borrower will be required to sign an agreement that the proceeds of the loan will be used only for purposes of maintaining or restarting the business in the designated area.  Use of proceeds to pay off debts already incurred for qualifying business maintenance or restart purposes may be authorized on a case-by-case basis.
    • A borrower will be required to certify that the proceeds of anticipated receipts, insurance claims, other loans applied for, or to be applied for, or other financial assistance will be used to repay the loan.
Loan Development Procedures
  1. Once the state of Florida designates the activation of the Florida Small Business Emergency Bridge Loan program, the application will be made available for download from this website.
  2. Applicant (eligible business owner(s)) completes and signs the application form and gathers required support documents.
  3. Applicant contacts and provides the application and support documentation to their local SBDC representative.  Applicants can find their local SBDC at FloridaSBDC.org/locations.  Note: Applicant may be requested to complete the SBDC Request for Services form.
  4. The Florida SBDC Representative will verify the applicant’s eligibility, identification, completeness of application and support documentation.  If the applicant is deemed to be eligible, and the application and support documentation are complete, the Florida SBDC Representative will request a personal credit report for each applicant from Florida First Capital Finance Corporation (loan underwriter) and forward all materials to the Loan Review Committee for loan consideration.  If the applicant is ineligible, the Florida SBDC Representative will notify the applicant.  If the application or support documentation is incomplete, or the loan review committee requests additional information, the Florida SBDC Representative will follow up with the applicant for needed information.
  5. The Loan Review Committee will review materials and approve or deny the loan request and notify the Florida SBDC Representative of the loan committee’s decision. Note: the decision concerning the granting of a loan is that of the independent loan review committee.  The Florida SBDC Network, or any of its employees, are strictly prohibited from being involved in loan deliberations and/or decisions.
  6. The Florida SBDC Representative will verbally notify the applicant of the decision of the Loan Review Committee.
  7. The Florida SBDC Representative will send all application materials to Florida First Capital Finance Corporation (loan underwriter) who will, if approved, prepare loan closing documents and the check for loan proceeds.  If not approved, Florida First Capital Finance Corporation will send written notification directly to the applicant.
  8. If approved, the Florida SBDC, or its delegated partner bank representative, will execute the closing process and distribute the loan proceeds.
Loan Closing
  1. Loan Recipient: Loans will be made to individuals who are at least 51% owners of the business.
  2. Use of Proceeds: A borrower will be required to sign an agreement that proceeds of the loan will be used only for purposes of maintaining or restarting the business in the designated area. Use of proceeds to pay off debts already incurred for qualifying business maintenance or restart purposes may be authorized on a case-by-case basis.
  3. Dedicated Sources of Repayment: A borrower will be required to certify that the proceeds of insurance claims, other loans applied for or to be applied for, or other financial assistance will be used to repay the loan.
  4. Closing Documents: Closing documents, prepared by the Program Administrator and provided to the applicant at closing, will include:
    1. Promissory Note.
    2. Business Purpose Statement.
    3. Loan Settlement Statement.
    4. Assignment of Proceeds from other Sources.
    5. Closing Checklist.
    6. Payment Coupon.
Loan proceeds will be delivered to the loan recipient at the loan closing.
Contact Information

For questions regarding the Emergency Bridge Loan Program, please contact the Florida Small Business Development Center (SBDC) Network Headquarters. Email: Disaster@FloridaSBDC.org.  Phone toll-free: (866) 737-7232.

About the Emergency Bridge Loan Program
The Florida Small Business Emergency Bridge Loan Program was first activated following Hurricane Andrew in 1992. It has been activated 24 additional times following disasters and has helped more than 4,160 small businesses statewide to receive more than $123.1 million in assistance.