The Miami-Dade Beacon Council (MBDC) is working closely with partners to help businesses recover quickly from the impact of hurricane Irma. Our rapid recovery plan has already started and we will be complementing our efforts by launching a series of Hurricane Recovery (and Preparedness) Business Assistance workshops in October. These interactive workshops are designed to communicate resources, facilitate connections and foster resiliency. The workshops are open to the community and there will be no cost to attend.
The workshops, organized by MDBC’s One Community Goal initiative, will discuss ways our community can become more resilient. Presenters will include our partners at the Small Business Administration, Federal Emergency Management Agency, Enterprise Florida, Florida Department of Economic Opportunity, Small Business Development Center and others. The workshops are focused on obtaining immediate relief for businesses that were damaged by Hurricane Irma.
The dates, times and locations the eight workshops will be announced shortly.
Florida Small Business Emergency Bridge Loan Program
Since Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan Program about a week ago, more than 80 applications have been submitted. These are the short-term, interest-free loans to businesses damaged by the storm that are to be used to bridge the gap between the time damage is incurred and when a business secures other financial resources, including payment of insurance claims or longer-term Small Business Administration loans. The new submissions are currently being evaluated.
You can still apply for the Florida Emergency Bridge Loan program. The deadline to apply is October 31, 2017.
Under the program, eligible small businesses in all 67 Florida counties with two to 100 employees may apply for short-term, interest-free loans from $1,000 to $25,000 for 90 or 180-day terms. To be eligible, a business must have been established prior to September 4, 2017, and demonstrate economic injury or physical damage as a result of Hurricane Irma.
For questions about the Emergency Bridge Loan Program, the U.S. SBA Physical and Economic Injury Loan Programs, and how the Florida SBDC can help, please contact the Florida SBDC Network at (850) 898-3489 or Disaster@FloridaSBDC.org. The phone lines will be answered during regular business hours; all voice mails and emails will be responded to within 24 hours.
Florida Film Office Encourages Projects Seek Bridge Loans
Donyelle T. Marshall, LATAM business liaison for the Florida Office of Film and Entertainment is encouraging those whose projects have been negatively impacted by Hurricane Irma to seek financial relief through the Florida Emergency Bridge Loan Program.
The procedure of seeking the bridge loan for impacted producers and investors would be the same as the steps detailed above for small business owners.
Tax Considerations: Important from IRS
As Miami-Dade County continues its rapid recovery from Hurricane Irma, some of you might’ve missed this announcement from the IRS, “Hurricane Irma victims in parts of Florida and elsewhere have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments.” Individuals who reside or have a business in Broward, Charlotte, Clay, Collier, Duval, Flagler, Hillsborough, Lee, Manatee, Miami-Dade, Monroe, Palm Beach, Pinellas, Putnam, Sarasota and St. Johns are covered by this announcement.
Affected taxpayers include anyone reliant on K-1s and other information from entities impacted by the storm.”
Find further details on the IRS site, https://www.irs.gov/newsroom/irs-gives-tax-relief-to-victims-of-hurricane-irma-like-harvey-extension-filers-have-until-jan-31-to-file-additional-relief-planned.