Bridge Loan Helps Tampa-based Business Weather the Storm
Digimax Solutions, LLC of Hillsborough County
Karen Seeram opened Digimax Solutions, LLC, in 2009, with the intent of serving the local post office and business communities. The business is an approved postal service provider offering shipping and mailing services, and also provides printing solutions for the local community.
With the approach of Hurricane Irma, government offices began closing up shop to protect employees. When the local post office closes, Digimax must close as well. After Irma swept through the area, Seeram returned to work to find the business had suffered not only economic losses, but physical inventory loss as well, due to water damage.
Looking to bridge the gap from her lost income and necessary repairs, Seeram reached out to the Florida SBDC at University of South Florida, for assistance in applying for a State of Florida Emergency Bridge Loan. While she was not confident about the process to begin with, she was pleased when she was notified that she’d been approved for the loan.
When asked about the experience with the storm and the assistance received, Seeram recalled:
What type of damage occurred?
In my office there’s a window and on top of the blinds the water came through and it went up all the books, paper; everything. Then there’s a back door to my office and the water came through there. A lot of printed materials got damaged. Water also came in over the digital press. I had water damage from my ceiling and my wooden floor in the office is damaged. We will need to repair the ceiling as well as the wooden floor in my office. Some furniture damage was minor. We had to close for the hurricane and work in conjunction with the post office. We were out of service for six days. We have lost business on both the post office and the printing services.
How will the Bridge Loan help?
This money will put us back into working status.
How was the Florida SBDC at USF helpful during this process?
I must say, I came and when I met with Mitch, he explained a whole lot. He made sure that the package was complete. Low and behold, when he called me last Friday to tell me I was approved, I didn’t believe it. I still don’t believe it. I really want to thank you guys. You have been great. There’s so many small businesses they really need attention.