A $50 million state loan program for small businesses is tapped out after awarding funding to around 1,000 small businesses. Now, Governor Ron DeSantis is calling on Floridians to utilize federal programs instead.
More than 38,000 small businesses applied for a piece of the $50 million up for grabs in the state’s small business bridge loan program.
With those funds depleted, Governor Ron DeSantis is urging business owners to seek federal assistance from programs like Paycheck Protection Program.
"I think [the program has] been very popular. Hopefully that will end up making a big difference," DeSantis said Tuesday.
The Paycheck Protection Program provides forgivable loans for businesses under 500 employees, but federal lawmakers warn that money could soon run out.
DeSantis said he’s looking at other options for state-backed loans, although he didn’t have specific details.
"If [these small businesses] don't have the ability to just get through this period financially, they may never come back. I think that that would be a loss for the state of Florida."
