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The deadline for personal tax returns to be filed is now July 15. Taxpayers also get until July 15 to pay tax owed without penalty or interest. If you file for an extension until October 15, you will still need to pay the tax owed by July 15 or penalties and interest will start accruing.

Yes. As long as you have at least one W2 employee, you can apply for this loan.

This loan is awarded based on 2.5 times your average monthly payroll. The SBA will calculate your total payroll for the previous 12 months and divide that number by 12 to get the average. Then they will loan you 2.5 x that average amount. You must retain at least 75 percent of your payroll and use no more than 25 percent of the loan for rent and utilities through June 30 in order to have the loan forgiven. As of April 14, we are awaiting guidance from the SBA on how to calculate the loan amount for sole proprietors and contract employees (1099 vs W2).

Yes. The whole amount will be forgiven if you use it for payroll to retain your current employees. You can use up to 25 percent of the loan for other approved purposes like office rent and utilities, but at least 75 percent of what you spend must be for payroll.

No. However much the SBA awards as an advance (up to $10,000) is a grant and does not need to be repaid.

No. Due to the high demand, the SBA has placed restrictions on how much can be awarded in advance based on normal revenue and number of employees. Those guidelines are subject to change, so check the Florida Small Business Development website for the latest information. You can also check the SBA website at

The Governor of Florida activated emergency bridge loans in response to the pandemic in March 2020. Resources were limited and were intended only to bridge the gap until the federal assistance programs went into effect. Since then, the CARES Act has been signed into law, which will expand the state’s Reemployment Assistance benefits. Changes are being incorporated into program resource guides and additional information will be made available as the state receives guidance from the U.S. Department of Labor. For more information on what resources are available to employers from the State of Florida, click here.

Good question. The SBA has not yet released guidance on calculating wages for self-employeds. It is crucial that you work with your banker on applying for the loan, as they will be able to work with the SBA to determine what sort of documentation can be used to verify income.