The Florida Small Business Emergency Bridge Loan Program has been activated by Gov. Rick Scott. The program is a source of practical cash flow to small businesses in Escambia, Santa Rosa, Okaloosa and Walton Counties, which were affected by last month’s severe flooding.
Escambia County building inspectors report about 160 businesses in unincorporated areas have flood damage, 83 of which are major. Businesses in Pensacola have $6 million in damages, while 23 businesses in Santa Rosa County were hit.
But just what is a bridge loan?