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Blog

Bridge Loan Helps Inverness-Based Company Improve Cash Flow

Featured News, Success Stories

Ryan-Markland Signs of Citrus County

Bridge Loan Helps Inverness-Based Company Improve Cash FlowWhen a natural disaster approaches, homeowners and businesses alike start boarding up to secure their physical addresses. Even with all the precautions one can take before a hurricane makes landfall, there isn’t much that can be done to prepare for the long-term economic effects it will have on the local economy.

This is the situation many Florida-based businesses are finding themselves in post-Hurricane Irma. That’s also the case for Ryan-Markland Signs. A state-certified electrical sign and lighting maintenance and repair contractor, servicing businesses throughout Florida, the company has seen its customer base take a hit post-irma. This, in turn, has affected the cash flow of the business.

Seeking assistance to weather the downturn, owner William Ryan sought out the Florida SBDC at University of South Florida, located at the Greater Hernando Chamber of Commerce, in applying for the Florida Small Business Emergency Bridge Loan, an interest-free loan program repayable within six months. Below, Ryan recalls his experience:

What type of damage occurred?
We were without phones [and] Internet for over a week, making regular communications with our clients impossible at a critical time. Also, many of our customers were literally out of business for an extended time, greatly affecting regular cash flow.

How helpful was the Bridge Loan?
A lifesaver!

How was the Florida SBDC at USF helpful during this process?
Amazingly helpful. If it weren’t for our adviser Bill walking us through the process, it would have been very overwhelming to do on our own, especially in light of all the other difficulties we were going through post-Irma.

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https://enwqtxc9es4.exactdn.com/wp-content/uploads/2017/10/Ryan-Markland-Pic-e1507651036174.jpg?strip=all&lossy=1&ssl=1 1024 768 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2017-10-10 15:58:102021-12-15 06:40:16Bridge Loan Helps Inverness-Based Company Improve Cash Flow

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Florida SBDC Network

The Florida SBDC at the University of South Florida is a member of the Florida SBDC Network, a statewide partnership program nationally accredited by the Association of America’s SBDCs and funded in part by the U.S. Small Business Administration, Department of Defense, State of Florida, and other private and public partners, with the University of West Florida serving as the network’s headquarters. Full funding disclosure available at www.floridasbdc.org/funding-disclosures/. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for individuals with limited English proficiency.

All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA or other funding partners.

Reasonable accommodations for persons with disabilities and/or limited English proficiency will be made if requested at least two weeks in advance. To request accommodation or language assistance, please contact Nelson Reyes, nreyes@usf.edu, 813.396.2700.

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