Florida — Small businesses impacted by coronavirus could soon get a loan for up to $100,000.
Mayor Lenny Curry said Tuesday that tens of millions of dollars could be available through a partnership with Vystar Credit Union.
Like virtually every other restaurant, Jacksonville Beach’s Ugly Cupcake Muffinry is empty today.
Owner Ivy Wolf is gathering donations for outreach, but the actual café is closed.
“Financially, how has it been?” Action News Jax Reporter Russell Colburn asked.
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“Dismal is probably a good word,” Wolf said. “The sales for the cafe proper are down about 95% and, unfortunately, for us staying up just for takeout is not valid.”
For Wolf, this new loan could help.
Vystar’s President and CEO, Brian Wolfburg, tells Action News Jax businesses can get up to $100,000 and not make a single payment in the loan’s first year.
Even after, he said the city will help cover costs if certain things -- such as employee retention -- are met.
To qualify, the business must be in existence for one year, in Duval County, with between two and 100 employees.
“If those situations apply, and they’re struggling, they can apply for this loan for us, and we’ll get an answer back to them immediately, and they’ll have access to funds immediately,” Wolfburg said.
For Wolf, and so many others, this could be the chance they need.
“To be able to have the funds to know that the electric can be paid, the building can be running, and our staff is OK, that’s really -- I would sleep at night with that,” Wolf said.
Wolfburg said the city is also working on a grant program to get business owners $1,000 on day one.
City Council must approve the loan program.
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