The Sarasota County Commissioners approved a new emergency loan program for small businesses. Learn more.
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COVID-19 Partner Update 4/8/2020

New Local Recovery Loan Program Approved

A Message from Visit Sarasota County President, Virginia Haley

Today, April 8, the Sarasota County Commission approved a new emergency loan program for small businesses funded through an existing $4.3 million economic fund at the county. They directed the Sarasota County Economic Development Corporation to roll out the details of the program and application process with a goal of providing relief to local businesses as they await funding from the larger federal programs. The application for this loan will be made available within the next 2 weeks and we will alert you as soon as it is ready. Here is general information about the program:

  • This program will use the same application and requirements used for the federal Payroll Protection Program (PPP) being managed by local banks. Applicants to the Sarasota program must have already applied for PPP. However, you do not need a PPP decision to apply.
  • The loans are for amounts up to $25,000 based upon personnel, utilities and lease costs.
  • There are enough funds for approximately 172 businesses and 35 of the loan slots will be for licensed child-care businesses. The loans will be accepted on a first come basis.
  • This program is for Sarasota County licensed businesses who have been operating for a minimum of three years.
  • The loan will be zero interest with no payments for the first 12 months and then convert to 3.5% interest with a repayment over the next 3 years.

Important Links

COVID-19 Business Resources

AHLA logo

AHLA Housing List

The American Hotel & Lodging Association (AHLA) is currently working with the US Department of Health and Human Services (HHS) to create a database of willing properties in order to meet the demand for housing capacity during the pandemic. If you are interested, click the button below. 

Read More
SBA logo

Paycheck Protection Program FAQ's

The Small Business Administration (SBA) and the Department of the Treasury assembled guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), established by section 1102 of the CARES Act. 

Read More
US Travel Association logo

U.S. Travel Association Resources - CARES Act

Detailed documents that outline important and relevant pieces of information have been created for our industry within the CARES Act. You can view the details of the bill and your eligibility for aid, or navigate which part of the CARES Act applies to your organization.

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US Chamber of Commerce logo

Small Business Emergency Loan Guide

The administration soon will release more details including the list of lenders offering loans under the program. In the meantime, the U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals prepare to file for a loan.

Read More
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