Paycheck Protection Program

Paycheck Protection Program (PPP) - Information for Small Businesses

SBA has provided the protocols to the U.S. Lending Community and the forgivable SBA loan application and related guidance for Lenders and Banks is now live. Small Businesses can start


Please see below for more specifics:

Policy CARES Act for Small Businesses

Program Overview
Information for Lenders

Information for Borrowers



Florida Short Time Compensation Program

Florida Department of Economic Opportunity

  • The Short Time Compensation Program is a voluntary employer program designed to help employers maintain their staff by reducing the weekly working hours during temporary slowdowns instead of temporarily laying off employees. 


  • If an employer establishes a Short Time Compensation Plan and an employee meets the qualifications to file a re-employment assistance claim in the state of Florida, the employee will receive a partial re-employment check to supplement their reduced paycheck.


  • EMPLOYERS: To apply for the Short Time Compensation Program (required for employees to submit a re-employment claim), please follow this link to the Employer Login page of CONNECT.


  • EMPLOYEES & EMPLOYERS: Click here for more information on the FL DEO’s Short Time Compensation Program

Contact the Florida Department of Economic Opportunity here.

The Florida Small Business Emergency Bridge Loan Program

The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19. Read the full statement about the The Florida Small Business Emergency Bridge Loan Program.  

Contact the Florida Department of Economic Opportunity here.

Disaster Loan Assistance from SBA

Federal Disaster Loans for Businesses, Private Nonprofits, Homeowners, and Renters.

Find out more on their website by clicking here.

To contact SFL SBA Office click here.  

What do Small Business Owners need to know?

Current and New Traditional SBA 7a Loans

SBA is going to automatically make 6 months of payments on all current 7a loans, based on their next payment date.  SBA will also cover the first 6 months payments of new 7(a) loans booked for any new borrower up to six months from enactment of the law.

What do Small Business Owners need to know?


Eligible businesses may apply for a loan made for up to 250% of the employer’s average monthly payroll.  If a business is less than one year old, the loan is capped at $10 million.  In turn, businesses may use loans to supplement payroll, employee salaries (not in excess of $100k), commissions, benefits, mortgage interest, rent, utilities, and any other debt obligations incurred during the covered period. For covered loans, all personal guarantees by the borrower will be waived.  The loans will have up to a ten-year maturity at not more than a 4% interest rate.  

What do Small Business Owners need to know?

Loan Forgiveness

All borrowers will be eligible for loan forgiveness with the level of borrower’s forgiveness proportionately reduced by any employee or payroll reduction during the emergency.  For example, the amount of forgiveness will decrease materially if there is decrease in employee pay in excess of 25% of the previous year’s compensation.

What do Small Business Owners need to know?


The PPP states that loans may cover an estimated period beginning on February 15, 2020 and ending on December 31, 2020. The SBA Administrator will issue regulations to carry out the provisions of the CARES Act and make relief available no later than 15 days after the date of enactment of the Act. Lastly, lenders will issue decisions on applications for relief no later than 60 days after the date on which a lender receives an application for loan forgiveness.

If Small Businesses would like to apply for the Payment Protection Program (“PPP”) portion of the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act”, Lenders will need the following:

  • Commercial Loan Application to be completed by Borrower.

  • 2019 Corporate Tax Return or 2019 Year End Financials (Balance Sheet, Income Statement, & AR/AP Aging).

  • The Last 4 Quarters of Payroll Tax Forms (941) and Verification of the number of employees and payroll incurred over the most recent 12-month Period.

  • Good Faith Certification (Signed by Borrower) stating that the loan is necessary due to the uncertainty of current economic conditions caused by COVID-19 and that the use of funds will be used to retain workers and maintain payroll, lease, and utility payments and that you are not receiving duplicative funds for the same uses from another SBA program.

Lenders will gather these documents in anticipation of the new program and will begin processing them once the law is in effect. Additional documents and information may be required.

What do Small Business Owners need to know?

The time to call your Banker/Lender is NOW, in order to learn more about the documentation required by Lender.


The time to gather and organize your financial statements is NOW, in order to have them ready to be submitted to the Lender.

For more information, please go to WWW.SBA.GOV.

Exim Bank is Supporting Small Businesses

Exim Bank is supporting and helping small businesses via the creation of temporary relief measures for U.S. Companies and American workers affected by the coronavirus outbreak.    


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