An Emergency Bridge Loan Program is helping local businesses to recover from Hurricane Hermine.
Some Tallahassee businesses were able to operate for free in coworking spaces coordinated by the Office of Economic Vitality. But others spent the week after the storm unable to reopen because of power outages or building damage. Christina Paredes, Economic Vitality’s Deputy Director, says the FAMU Small Business Development Center is assisting businesses affected by the hurricane with receiving emergency loans.
“It really helps serve the bridge gap there for businesses that were unable to…who either lost all their inventory or weren’t able to make sales at that point in time, or lost power altogether, or had actual physical damage done to their business,” says Paredes.
Governor Rick Scott activated the emergency loan program to bridge the gap after the storm, before other resources like insurance money and federal assistance become available. Local businesses that were impacted by Hermine can apply for a loan of up to $25,000 through the FAMU Small Business Development Center website.