• Link to Facebook
  • Link to Youtube
  • Link to X
  • Link to LinkedIn
  • Link to Flickr
  • Link to Slideshare
  • Link to Rss this site
  • Donate
  • Subscribe
SBDC Tampa Bay
  • Home
  • Solutions
    • Certifications
      • Business Certifications
      • Minority-Owned Business
      • Woman-Owned Business
      • Veteran-Owned Business
    • Consulting & Training
      • Training
      • Training Calendar
      • Consulting
      • Schedule a Consultant
      • Consultación
    • Business Solutions
      • Growth Acceleration
      • Government Contracting
      • International Trade
      • Starting Your Business
      • Disaster Preparedness
      • Student Teams
      • Financing Your Business
  • Resources
    • Business Resources
    • Frequently Asked Questions
  • Insights
    • Blog
    • Media Inquiries
  • About Us
    • Mission / Vision
    • Consultants
    • Meet the Staff
    • Meet Our Clients
    • Partners / Affiliates
  • Training
    • Training Calendar
    • On-Demand Training
  • Results
    • Success Stories
    • Economic Impact
  • Locations
    • Tampa
    • Hernando County
    • Highlands, Hardee, DeSoto
    • Hillsborough
    • Manatee
    • Pasco County
    • Pinellas County
    • Polk County
    • Sarasota
  • Contact
  • Request a Consultant
  • Click to open the search input field Click to open the search input field Search
  • Menu Menu
Blog

Bridge Loan Keeps the Cycle Spinning for Bradenton-based Chain

Success Stories

The Linen Locker LLC of Manatee County

Bridge Loan Keeps the Cycle Spinning for Bradenton-based ChainDave Walstad runs a successful business with multiple locations spread throughout the region. Headquartered in Bradenton, Walstad’s businesses, All Star Laundry and Dry Cleaning and All Star Scrubs, Shoes and Chef, are located throughout the region from Venice to Palmetto.

As Hurricane Irma approached, business came to a screeching halt as customers and employees alike, fled the state. Once the hurricane passed, business was slow to return to normal as people focused on finding food and gas, versus dropping off their dry cleaning. As his nearly 50 employees in the locations worked overtime to get business back on track, Walstad found himself in a cash flow crunch.

He promptly reached out to the Florida SBDC at University of South Florida for assistance in applying for the Florida Small Business Emergency Bridge Loan, to alleviate the issue. When asked about his experience with the storm and the assistance received, he recalled:

What type of damage occurred?
Hurricane Irma, as we know was predicted to be catastrophic. It affected us with some damage but also affected the lives of our staff as they left the state. We had some building damage. The business loss was substantial. Most locations had no power, no Internet, no web store, no capability to do anything. Almost all of our locations had a lot of wind damage. The business loss flowed into October because a lot of people lost everything else, the last thing they are looking to do is drop off laundry – they’re looking for food and gas. Very much a cash flow issue. We only received an insurance payment on one location because each one has its own deductible. We had a lot of corporate accounts who are in the same boat. Now we’re paying overtime just to recover from the situation.

How will the Bridge Loan help?
This will allow us to make the repairs and keep our employees paid while we make up the time we lost and try to get back to normal.

How was the Florida SBDC at USF helpful during this process?
I think from a loan standpoint it was a very easy process. Kyle was excellent and very easy to work with. I certainly would recommend it to anybody in the future. It was pleasant to hear his voice saying you’re approved, congratulations! We’ll look at future marketing assistance because it’s beneficial and people just don’t know about it.

Share this entry
  • Share on Facebook
  • Share on X
  • Share on LinkedIn
  • Share by Mail
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2017/12/Linen-Locker-Pic.jpg?strip=all&lossy=1&ssl=1 1024 768 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2017-12-05 16:07:042021-12-15 02:49:46Bridge Loan Keeps the Cycle Spinning for Bradenton-based Chain
Subscribe to Newsletter

Categories

  • Business Essentials
  • Business Plans
  • Buying a Business
  • Certifications
  • COVID-19
  • Crowdfunding
  • Disaster Preparedness
  • Economic Development
  • Finance
  • Government Contracting
  • Growing Your Business
  • Healthcare
  • Human Resources
  • International Trade
  • Marketing
  • Press Releases
  • Radio and Podcast
  • Starting a Business
  • Success Stories
  • Success Stories Videos
  • Tech Commercialization/Tech Transfer
  • Veteran
  • Web and Social Media

Contact Us

Regional Office Contact Info

USF CONNECT
3802 Spectrum Blvd., Suite 201
Tampa, FL 33612

813-396-2700

Subscribe to Our Newsletter

Florida SBDC Network

The Florida SBDC at the University of South Florida is a member of the Florida SBDC Network, a statewide partnership program nationally accredited by the Association of America’s SBDCs and funded in part by the U.S. Small Business Administration, Department of Defense, State of Florida, and other private and public partners, with the University of West Florida serving as the network’s lead host institution. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for limited English proficient individuals.

Logos

Business Assistance

USFMuma

State Designated as Florida’s Principal Provider of Business Assistance [§ 288.01, Fla. Stat.]

© Florida SBDC at USF | contact webmaster
Link to: Move Over Food Trucks! Pop-Up Retail on the Scene Link to: Move Over Food Trucks! Pop-Up Retail on the Scene Move Over Food Trucks! Pop-Up Retail on the SceneMove Over Food Trucks! Pop-Up Retail on the Scene Link to: Bridge Loan Helps Lakeland-based Business Serve Customers Link to: Bridge Loan Helps Lakeland-based Business Serve Customers Bridge Loan Helps Lakeland-based Business Serving CustomersBridge Loan Helps Lakeland-based Business Serve Customers
Scroll to top Scroll to top Scroll to top
  • Get Answers