Bridge Loan Keeps Winter Haven-based Business Running
Human Capital Resources and Concepts Inc. of Polk County
Human Capital Resources and Concepts Inc., is a consulting firm that specializes in resource management capabilities that are utilized in federal organizations. The firm is based in Winter Haven, and was no exception to the rule when it came to damages experienced as a result of Hurricane Irma.
While without power after the storm passed, President and CEO Marnice Miller, was looking for a solution to keep her contractors employed while the business rebounds. That’s when she heard about the State of Florida Emergency Bridge Loan program, administered by the Florida SBDC Network.
Miller walked into the Florida SBDC at University of South Florida office seeking the assistance of a business consultant in applying for the loan.
When asked about her experience with the storm and the assistance received at the Florida SBDC at USF, she recalled:
What type of damage occurred?
Hurricane Irma affected us because we have employees who are contractors, meaning they are contracted out to federal and private industries that are larger than us that require services. So when Hurricane Irma hit, we had time that there was no electricity. We also had time that people used to evacuate that they could not actually go into the site, so we lost revenue upwards of $35,000 just for those days that our contractors could not go on the job. We had physical damages related to the power surges and lost two of our main computer systems during that time.
How will the Bridge Loan help?
The funds will be used to replace the computers that we lost during the storm. We’re also going to have to use the funds to pay employees and keep the business running.
How was the Florida SBDC at USF helpful during this process?
Mitchell was wonderful. From coming into the office up until the point of signing the loan, the staff was very informative. He kept me informed through every step of the process. He was very responsive. The process was really a smooth process. We’ve probably been in the process for three weeks at the most and it was really, really a smooth process.
