Florida- Small Businesses Looking to Expand Bridge Loan Program

Florida Democrats say they’re curious about the vetting process that resulted in just 1,000 small businesses receiving emergency bridge loans from the state to keep them afloat through the coronavirus pandemic.

More than 38,000 applied for the bridge loan program which was capped at $50 million. Democrats and small business owners have been calling on Gov. Ron DeSantis to increase the pool to allow more businesses to apply for future funding. 

The federal government’s $349 billion Paycheck Protection Program (PPP) intended to benefit small businesses hurt by the pandemic ran out of money last week, though Congress and the White House announced Tuesday that another $310 billion in additional money for the program is about to be approved by Congress and signed by President Trump.

For more information: SpectrumNews9

Bay News 9
April 21, 2020