Emergency Business Loan Options
These are challenging times and we’re here to help!
Over the past two months, we have been working with our business members, keeping in mind the hardships each faces as they serve in various sectors of the economy. To that end, we have offered payment concessions to existing business or commercial loans where appropriate through conversations with their existing commercial loan officer and worked to process SBA Payroll Protection Program loans as quickly as possible.
Paycheck Protection Program
With the reopening of the state, we are hopeful that small businesses will be getting back to normal business and, as such, we are no longer accepting new applications for the SBA's PPP loans as of Friday, May 29 at 5 pm. We apologize for not being able to accommodate all requests. This program is a first come, first served distribution of nationwide funds and funding is not guaranteed.
For more details about the PPP and other relief programs, visit the SBA website or the state of Florida's disaster loan website.
Because there are anticipated changes, and to ensure you receive the most accurate information on what you need to do to fulfull the loan forgiveness requirements, we recommend that you visit the SBA's website. The SBA has published the forgiveness application that outlines the documents needed in order for your SBA PPP loan to be forgiven.
What to expect from MIDFLORIDA
In June, we will begin emailing businesses whose loans have been funded with a personalized link to a secure portal where you can submit all your supporting documentation. In the meantime, it would be beneficial for you to keep track of your expenses so you are prepared to provide that information later.