The Florida SBDC at University of South Florida facilitated 141 State of Florida Emergency Bridge Loans, totaling $7,515,100 in funding.
The Florida Small Business Emergency Bridge Loan Program was activated by Governor Rick Scott on Sept. 14, 2017, as a result of Hurricane Irma. On October 6, the program was expanded to include Florida’s citrus businesses.
This interest-free loan program was available to small business owners and citrus businesses throughout Florida that experienced physical and/or economic damage as a result of the storm. Small business owners could qualify for up to $50,000, while citrus growers could apply for up to $150,000.
“We were all very proud to assist small businesses affected by Hurricane Irma,” Eileen Rodriguez, FSBDC at USF Regional Director, said. “It reminds us why we do this on a daily basis – because we love helping businesses.”
Business consultants at the Florida SBDC at USF closed the following for its 10-county region:
County # of Loans Total Loan Amount
Desoto County 3 $335,000
Hardee County 8 $915,000
Hernando County 8 $300,000
Highlands County 29 $2,393,000
Hillsborough County 21 $715,000
Manatee County 6 $285,000
Pasco County 8 $199,000
Pinellas County 13 $476,400
Polk County 25 $1,256,200
Sarasota County 20 $640,500
The Florida SBDC at Florida Gulf Coast University closed an additional $50,000 Bridge loan in Desoto County.
Of the approximate $7.5 million in Bridge loans, nearly $4 million were citrus loans, concentrated in Desoto, Hardee, Highlands and Polk counties.
The Florida SBDC at USF has been processing loans since the week after Hurricane Irma hit, as the State of Florida’s loan administrator.
Additional disaster recovery resources can be found online at SBDCTampaBay.com/resources.