Bridge Loan Helps Wesley Chapel-based Security Firm Deliver
Security Iris, Inc. of Pasco County
Started in 2016, Security Iris, Inc., provides comprehensive solutions to the insurance, aerospace, defense and healthcare industries, with a full range of capabilities, from discovery and classification of sensitive data to vulnerability assessments.
When Hurricane Irma came through the area in September 2017, Security Iris experienced economic hardship as company employees were not able to complete client projects in a timely manner.
Looking for a way to recoup cash flow, Co-founder and Director of Operations, Anil Kumar Jayaprakash, and Site Director of Finance, Neeta Amanna sought the help of the Florida SBDC at University of South Florida, for assistance in applying for a State of Florida Emergency Bridge Loan. They were able to work with local business consultant Mitch Lairmore.
When asked about their experience with the storm and the assistance received, they recalled:
What type of damage occurred?
Economic loss of revenue. The hurricane impacted the ability of the company to perform on existing contracts for a three week period, resulting in deferral of revenue.
How will the Bridge Loan help?
It will help us complete our projects and make our clients happy. It was for cash flow and adding new employees to the projects so that we can meet the deadlines.
How was the Florida SBDC at USF helpful during this process?
Tremendous. We are always grateful to you and we would recommend you to everyone. We initially came to find out how to register a small business and Mitch recommended a bunch of things for us. Thank you Mitch!
