Bridge Loan Helps North Port-based Company Close the Gap
Accurate Gas & Plumbing of Sarasota County
Accurate Gas & Plumbing, based in North Port, prides itself on being the premier gas installation and repair contractor serving its local community. The company offers residential and commercial gas services, as well as plumbing services.
When Hurricane Irma came through the area in September 2017, Accurate Gas & Plumbing experienced economic hardship as clients put their contracts on hold to focus on their own business and residential cleanup.
Looking for a way to recoup cash flow while waiting on its busy season to come around, co-owner and President, Linda Remer, sought the help of the Florida SBDC at University of South Florida, for assistance in applying for a State of Florida Emergency Bridge Loan. She was able to work with local consultant Pat Gordon, who serves Sarasota County, traveling to client sites.
When asked about her experience with the storm and the assistance received, Remer recalled:
What type of damage occurred?
We had numerous contracts put on hold or that are held up due to storms. Their finances are being used elsewhere; businesses shut down for storm clean up, getting their homes fixed, etc.
How will the Bridge Loan help?
This loan has afforded us the opportunity to have cash flow while we wait to move ahead with our contracts in place – business can move forward and we can catch up during season here in Florida.
How was the Florida SBDC at USF helpful during this process?
They were a tremendous help to us during a stressful period of time.