A partnership of VyStar Credit Union and the city has approved about 100 small businesses for COVID-19 emergency loans.
Mayor Lenny Curry announced the initial loan numbers April 14 at his daily virtual news briefing. The loans total more than $3 million with $20 million more being processed by VyStar.
Curry said the city and VyStar have not decided if or when the city would increase the program’s lending capacity, but it is monitored daily.
“The important thing is that it’s working and the cash is getting in the hands of small businesses,” Curry said.
VyStar began processing applications for the program March 30 and Curry signed the legislation creating the loan and grant program April 7.
Small businesses can apply for loans up to $100,000 through a line of credit. The goal is for approval within five days.
Jacksonville-based VyStar has a $50 million loan pool available for the program.
City Council approved up to $26 million for the six-year COVID-19 Small Business Relief Employee Retention Grant Program to provide additional interest and principal forgiveness for businesses that meet specific employment retention criteria.
State of emergency extended
Curry clarified that the 30-day extension of the local state of emergency announced April 14 does not mean other emergency declarations, such as stay at home orders and nonessential business closures, were extended.
Extending the state of emergency allows the city to continue receiving state and federal disaster funding, Curry said.
Those funds cover the costs of COVID-19 testing at Lot J in Downtown near TIAA Bank Field, securing personal protective equipment for health care workers and salary costs of those responding to the pandemic.
A state of emergency declaration is limited to 30 days. Curry needed to renew it for the city to continue receiving the money.
Out of retirement
Curry said Council will consider two emergency bills filed at his request to ensure the city has the staff in place to respond to COVID-19.
The two bills would allow former Jacksonville Fire and Rescue Department firefighters and Jacksonville Sheriff’s Office police and corrections officers to come out of retirement to work during the emergency. Doing so would not impact their pensions, Curry said.
Jacksonville Fire and Rescue Department Chief Keith Powers said April 14 that returning personnel will be recent retirees and they will be required to have all state-required certifications.
Unemployment benefits
Curry told reporters April 14 that he’s heard reports about difficulties in applying for Florida’s state unemployment benefits, but said it is a state issue out of the city’s control.
According to a U.S. Department of Labor report April 9, there were 169,885 claims filed in Florida for the week ending April 4, down from 228,484 the previous week.
Gov. Ron DeSantis said April 10 the state was working to improve claims processing.
“The governor is deploying the resources available to him to get money to people,” Curry said. “I understand it’s a hardship. You hate to see people struggling and frustrated but I can assure you this: This governor is committed to getting the system operating the way it needs to be operating.”