Bridge Loan Helps Spring Hill-based Company Continue Serving State Employees

FDR Financial Services of Hernando County

Bridge Loan Helps Spring Hill-based Company Continue Serving State EmployeesFDR Financial Services provides financial services to State of Florida employees. This includes servicing employees in 14 school districts throughout the state.

Hurricane Irma, caused electrical and HVAC damage to the business, as well as minor flooding. This resulted in lost business for FDR, as they were not able to service clients properly.

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

How will the Bridge Loan help?
The Bridge Loan allowed us to continue to service the Florida State employees. We were able to continue to help State employees access their 403b and 457 accounts in order to get loans to help assist their own families.

How was the Florida SBDC at USF helpful during this process?
The SBDC was polite, respectful and understanding of our business needs during this difficult time. They were able to streamline the Bridge Loan process and quickly get us the funds we needed in a very timely fashion. We couldn’t ask for better service and help.