Bridge Loan Helps Tampa-based Car Dealer Continue Operations
Freedom Motorcars of Hillsborough County
Located in Tampa, Freedom Motorcars is a pre-owned car dealership specializing in getting anyone financed.
As Hurricane Irma approached Florida, she took a toll on the bottom line of most businesses in the region. Freedom Motorcars was no different, feeling the impact by losing a month’s worth of revenue as traffic to both the brick and mortar location and the website, slowed to a stop.
Seeking assistance, owner Chris Belsha reached out to the Florida SBDC at Hillsborough County for assistance securing a Florida Small Business Emergency Bridge Loan. When asked about his experience with the storm and the assistance received, he recalled:
What type of damage occurred?
Obviously with the turmoil that began with everything that happened we lost literally a month’s worth of business and recuperating from that is a huge thing.
How will the Bridge Loan help?
We want to be able to make payroll. We want to be able to pay our vendors. We don’t want to fall behind. It’s a huge help and as business returns back to normal, it’ll be a very easy repayment due to the terms – they’re amazing.
How was the Florida SBDC at USF helpful during this process?
Amazing. Quick response. Fast. Answered every one of my questions without fail at all hours, it seemed like. It was a very, very easy transaction. I wish I knew about things like this before. I’ve been in business 10 years and I wish I would’ve known about this before.