The Guide’s Guide to Covid-19 Aid Resources
Covid-19 has disrupted the busiest part of the Florida Keys fishing season. The backbone of a guide’s income has been severed. Thankfully, there are several triage programs in place to help sustain small businesses in these uncertain times. The most recent is called Coronavirus Aid, Relief and Economic Security Act (CARES Act). Within that program are several tools for aid, each with their own terms and applications.
Reference this guide for financial aid resources you may choose to pursue. This is not a comprehensive list. This is not professional financial advice. But it’s a good place to start. Consult your own financial advisors to make decisions that are right for you.
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First, if you haven’t already done so, apply for unemployment benefits.
- Apply online for a Small Business Economic Disaster (EID) Loan
- WHY YOU WANT IT: Unprecedented rates and qualifying terms. The application takes some time, but has simple instructions.
- WHERE TO GET IT: Visit www.sba.gov
- Click the top yellow header to APPLY for an EID Loan
- At the end of the application, be sure to CHECK THE BOX to be considered for an advance $10,000 grant. (A grant = no repayment, and is usually issued before loan approval).
After April 10:
- Apply at a local bank for a Paycheck Protection Program Loan (PPP)
- WHY YOU WANT IT: Exceptionally low interest rate and generous forgiveness. No collateral required.
- WHERE TO GET IT: Some local banks which will be participating in the program are listed below.
Contact Your Local Bank:
VP Commercial Loan Officer
William S. Doxey
Vice President Commercial Manager
OFFICE 305-451-5733; MOBILE 786-368-9577
Bette J. Brown
Area Executive – Dade/Monroe
OFFICE 305-245-2211; MOBILE 305-394-5852
VP/Market Lending Leader
(O) 305-809-5510 Cell 305-504-3779
Available at SBA-approved banks with more banks and non-traditional
lenders being approved quickly
Informational Video with FAQ:
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