Short-term loans of up to $25,000 will be available to small business owners impacted by the oil spill. The loans are interest-free for 12 months. To apply, the business owner must have been operational for one full year prior to the Deepwater Horizon Oil Spill and must demonstrate physical damage or economic injury as a result of the oil spill.

In the Tampa Bay region, the approved counties are: Hernando, Pasco, Pinellas, Hillsborough, Manatee, and Sarasota. The Small Business Development Center at the University of South Florida has set-up a hotline for people who seek assistance. The numbers are (813) 384-8232 (English) and (813) 384-8233 (Spanish).

For more information about the program, requirements and related forms, visit: www.floridaoilhelp.com

Due to the effects of the oil spill the restaurant began to experience a decline in sales. The owner developed some aggressive strategies to help them cope with the downturn in business but they needed a little help to keep them afloat until their strategies flourished. The owner found information about Florida’s Bridge loan by contacting the Small Business Administration (SBA). The SBA guided the owner to the Florida Small Business Development Center Network on the Floridaoilhelp.com website. The owner’s point of contact was SBDC certified business analyst Alejandro Rodriguez. Rodriguez provided the restaurant owner with details on how to apply for the bridge loan, requirements for the bridge loan, and several other questions as the process moved along. The owner gathered the necessary documentation and forwarded the information to Rodriguez. The loan documentation was organized and presented to an independent committee which approved the loan.

Florida’s Bridge loan is an interest-free loan for eligible businesses. These loans are processed for amounts up to $25,000 and with a term of up to 12 months. The SBDC at USF was designated as the local agency for assisting clients with questions, gathering the required paperwork, creating, hosting, and managing the loan committee, and closing the loan for those impacted businesses in need of a Florida Bridge loan. The SBDC provides assistance to small businesses in a variety of subjects including Business Continuity and Risk Management Program (BCRM). Floridaoilhelp.com was created to be the central source of information for businesses in the State of Florida with questions related to the Bridge Loan. The Governor activated Florida’s Small Business Emergency Bridge Loan Program on June 7, 2010.

On August 20, the loan was signed for Walt’s Seasonal Cuisine and a check was deposited in the restaurant’s business account. Thanks to Florida’s Bridge Loan program, the SBDC at USF and the efforts of the loan committee, dishes will continue to sizzle at Walt’s Seasonal Cuisine.

The Florida Emergency Bridge Loan program was activated in early June by Governor Crist to assist businesses impacted by the Deepwater Horizon Oil Spill. The Governor?s Office of Tourism, Trade & Economic Development has allocated $5 million in an effort to provide short-term emergency funding to businesses in need of immediate cash flow as a result of being physically or economically impacted by the oil spill.

?Small businesses are the backbone of our economy,? stated Eileen Rodriguez, SBDC at USF regional director. ?These short term loans will provide the much needed assistance for those who have been impacted by the oil spill.?

Short-term loans of up to $25,000 will be available to small business owners impacted by the oil spill. The loans are interest-free for 12 months. To apply, the business owner must have been operational for one full year prior to the Deepwater Horizon Oil Spill and must demonstrate physical damage or economic injury as a result of the oil spill.

In the Tampa Bay region, the approved counties are: Hernando, Pasco, Pinellas, Hillsborough, Manatee, and Sarasota. The SBDC at USF has set-up a hotline for people who seek assistance. The numbers are (813) 384-8232 (English) and (813) 384-8233 (Spanish).

For more information about the program, requirements and related forms, visit: www.floridaoilhelp.com

BP established 11 other Florida claims offices, mostly in the Panhandle area. Claims for Deepwater Horizon oil spill damages also may be filed on the Web at www.bp.com/claims.

For assistance with a Bridge Loan while waiting for an approved claim, please see Deepwater Horizon Oil Spill Small Business Emergency Bridge Loan Program

Para información en español sobre préstamos del gobierno en relación al derrame de petróleo de BP en el Golfo de México, favor de contactar directamente a Alejandro Rodríguez, consultor de negocios del Centro de Desarrollo de Pequeñas Empresas (SBDC) al (813) 384-8233.

Call Now For Assistance in Spanish

Llame ahora para asistencia en español

Release Date: June 4, 2010
Contact: Paymon Shokoohi, paymon.shokoohi@floridasbdc.org

Pensacola, FL ? As a result of the Deepwater Horizon BP Oil Spill impact on Northwest Florida beaches, the Florida SBDC Network’s Mobile Assistance Center (MAC) has been deployed to the Casino Beach Parking Lot on Pensacola Beach. The MAC provides easy access for small business owners that are being impacted by this disaster to seasoned business recovery counselors, up to date information, other available resources and technical assistance.

On May 13, 2010, the U.S. SBA issued an EIDL Disaster Declaration for the State of Florida, including Northwest Florida counties, in response to the April 20, 2010 Deepwater BP Oil Spill. The purpose of an EIDL is to provide small business owners low interest loans to meet their financial obligations that they could otherwise have met had the disaster not occurred. It provides relief from economic injury caused directly by the disaster and puts the business in a reasonable working capital position during the period affected by the disaster. Any small business that is located in one of the 19 Florida Counties in the declared economic disaster area may apply for an SBA EIDL. With the EIDL program, SBA is offering working capital loans up to $2 million at an interest rate of 4 percent with terms up to 30 years.

In addition, small businesses located within the 19 counties declared as disaster areas who have existing SBA loans may qualify for up to 12 month deferment on their payments. Information on the SBA loan deferment may be obtained by contacting any of the local SBA Business Recovery Centers.

Members of the FSBDCN’s Business Recovery and Response Team (BRRT) and representatives from the U.S. SBA are available on the MAC Monday through Friday from 8:00 am to 5:00 pm to assist businesses with EIDL forms, provide information on local, state, federal and BP claim resources that are available. The MAC is totally self-contained and is equipped with satellite capabilities so business owners can sit down with a counselor and access all the necessary federal forms that are needed to apply for the EIDL online.

The Florida SBDC Network is an official member of Florida?s State Emergency Response Team (SERT) ESF-18 Business and Industry and is actively involved with the state’s response to the Deepwater BP Oil Spill event.

Those unable to visit the Mobile Assistance Center may obtain EIDL information and application forms by either calling SBA?s Customer Service Center at (800) 659-2955 (800-877-8339 for the hearing impaired), e-mailing disastercustomerservice@sba.gov, or visiting SBA?s website at www.sba.gov/services/disasterassistance. The deadline to apply for these loans is Feb. 14, 2011.

The Florida SBDC Network, a statewide service network of 35 centers, is funded in part through a cooperative agreement with the U.S. Small Business Administration, hosted by the University of West Florida and accredited through the national Association of SBDCs. For over 30 years, the Network has nourished a statewide partnership between higher education and economic development organizations and has been dedicated to providing emerging and established business owners with assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. To learn more about the Florida SBDC Network or to find an SBDC near you, visit www.FloridaSBDC.org or call 1.866.737.7232.

Applicants must have credit history acceptable to the SBA and have the ability to repay the loan. If loan is over $5,000, the SBA requires collateral when available. However, the SBA will not decline the loan for lack of collateral. Approved loans are at a 4.00% fixed interest rate for a maximum term of 30 years.

Application deadline is February 14, 2011.

For further information, see SBA Disaster Loan for Deepwater BP Oil Spill Fact Sheet or to apply online see SBA Disaster Loan Online Application.

According to a recent study on the economic impact of beaches to Florida?s tourism, beaches serve as economic engines by attracting out-of-state tourists whose spending creates employment and income for local residents. Impacts of these economic development spread beyond the immediate area of the beach because not all beach-going tourists stay in the immediate beachfront communities. Additionally, businesses in the beachfront communities are supplied by businesses in nearby metropolitan areas (Murley , et.al, Tourism in Paradise: The Economic Impact of Florida Beaches).

The SBDC at USF encourages you to take Pinellas County Economic Development’s Disaster Preparedness Survey. The information gathered will assist the state in determining how to better prepare small businesses for natural disasters. Please make every effort to take this important survey.

More information on the Oil Spill can be found on the Pinellas County Website.