ORLANDO, Fla. — The recent federal government shutdown delayed access to federally guaranteed loans for small businesses in Florida, according to the U.S. Small Business Administration.
During the shutdown, Florida small businesses lost $461 million in federal loans, while nationwide, the SBA reported that $5.3 billion in lending was blocked.
The SBA estimated that Florida small businesses missed out on tens of millions of dollars in federally guaranteed loans during the shutdown. These loans are typically used to hire employees, fund expansions, or cover operating costs.
The SBA’s 7(a) and 504 loan programs offer federally guaranteed financing vital for small businesses to grow or stabilize. President Trump signed a funding bill on November 12 to reopen the government, ending the shutdown and allowing the SBA to resume processing loans applications.
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