The Coronavirus has changed our world in just a few months. The past few weeks have been unprecedented, to say the least. With the exception of a few industries, most businesses are closed completely or operating at a significantly reduced capacity. As a result, a number of emergency laws were put into effect to help businesses and individuals make it through this nightmare.

So far, the federal government has rolled out 3 new laws or “stimulus packages”. The first, The Coronavirus Preparedness and Response Supplemental Appropriations Act was signed into law on March 6. The second, the Families First Coronavirus Response Act (FFCRA) was signed into law on March 18. And the third, the Coronavirus Aid, Relief and Economic Security (CARES) Act, was signed into law on March 27. Additionally, Governor DeSantis enacted the Florida Small Business Emergency Bridge Loan Program through Executive Order on March 1, 2020.

I have received a number of calls from clients asking, “what do I qualify for?” At this point, the assistance available is still evolving. And, it is very likely that there will be more coming in the weeks and months ahead. Unfortunately, there is way too much information to include in one post. In addition to the loans and assistance that is being made available to businesses, there are a number of changes that affect your business and the rights of your employees. I will do my best to break down the emergency laws that have been enacted, and how they may affect you, your business and your employees.

Loans and Grants

This post will cover the loans first made available to small businesses as a result of the Coronavirus. The Florida Small Business Emergency Bridge Loan (SBEBL) and the SBA Economic Injury Disaster Loans.

Florida Small Business Emergency Bridge Loan

The SBEBL is available to all small businesses with a minimum of 2 and a maximum of 100 employees. The maximum available under this loan is $50,000, with up to $100,000 is special cases. These loans must be repaid with 1 year. The loan shall be interest-free for the first 12 months and shall accrue interest at a rate of 12% thereafter. Applications must be submitted by May 8, 2020, and is subject to availability of funds. To apply online For more information on the SBEBL

Coronavirus Preparedness

The first stimulus package, the Coronavirus preparedness package was for $8.3 billion in emergency funding. The money was primarily to fight the spread of the virus, develop a vaccine, and provide the U.S. Small Business Administration (SBA) with emergency funding. This funding will allow the SBA to make $7 billion in low-interest loans to businesses impacted by the virus.

SBA Economic Injury Disaster Loans

The SBA can make Economic Injury Disaster Loans (EIDL) of up to $2 million, with a 30-year term and 3.75% financing. These loans can be applied for online at In terms of eligibility, it will be on a case-by-case basis. However, since most areas of the country have been affected the only question may be your creditworthiness. To apply for this, the SBA Express Bridge Loan or the SBA Loan Advance, online

SBA Express Bridge Loan

The SBA also has an Express Bridge Loan. This loan can be for a maximum of $25,000. However, these loans require less information, less processing time and, if approved, will be paid for in full with the EIDL.

SBA Loan Advance

Additionally, the SBA is making loan advances of up to $10,000 within 3 days and it doesn’t have to be repaid. To apply go to According to the SBA, all small business owners are eligible to apply for an EIDL advance of up to $10,000. This loan advance will not have to be repaid and funds will be made available within three (3) days of a successful application. Applications must be submitted by September 30, 2020.

In the next Post I will discuss the Families First Coronavirus Response Act (FFCRA) and the additional burdens and requirements it’s placed on small businesses.