Bridge Loan Saves Weeki Wachee-based Company; 15 Jobs
BK Construction Services, LLC, of Hernando County
From their central Florida location, BK Construction Services, LLC, has been providing services to the southeastern United States for 29 years. Services range from parking lot maintenance, repair and ADA compliance, to a full complement of concrete, asphalt, site development, and infrastructure repair and restoration services.
Even with its storied history, BK Construction Services was not able to withstand the economic damage brought on by Hurricane Irma. That’s when owner, Walter Chappas, reached out to the Florida SBDC at University of South Florida, based at the Greater Hernando Chamber of Commerce, for assistance in applying for a State of Florida Emergency Bridge Loan. When asked about his experience with the storm and the assistance received, Chappas recalled:
What type of damage occurred?
Although we were spared any loss of equipment and facilities, the real loses to our customers and vendors resulted in a catastrophic loss of work to our business and our employees. So severe was this loss, that it posed an existential threat to our company.
How will the Bridge Loan help?
I believe that the answer to this question can be summarized quite succinctly – the Bridge Loan saved our company and the jobs of our 15 employees.
How was the Florida SBDC at USF helpful during this process?
Our SBDC representative, Bill Burnham, was easy to contact, knowledgeable, and realistically encouraging. He actively ensured that the forms were properly completed, then moved them through the approval process with both alacrity and celerity. We couldn’t be happier.