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Sarasota-based French Café Getting Back to Business with Bridge Loan

La Creperie Caffe of Sarasota County

Sarasota-based French Café Getting Back to Business with Bridge LoanChef/owner Konstantinos Chilias operates a chain of successful cafes in Sarasota, Ybor City and Miami, and will soon be opening a location in Orlando. The café, known to be frequented by tourists, specializes in French crepes, paninis, salads and breakfast.

As one would expect, Hurricane Irma took a direct hit to the chain’s bottom line, as customers fled the state to escape its path.

With cash flow coming to a halt, Chilias was looking for a short-term solution to help the business weather the storm until season kicked in again. He reached out to the Florida SBDC at University of South Florida to apply for a State of Florida Emergency Bridge Loan.

When asked about his experience with the storm and the assistance received, he recalled:

What type of damage occurred?
The electricity was down so we had to close for a week. There were no tourists, no customers one week before, one week after because it’s on the water.

How will the Bridge Loan help?
This will help us to improve the business and go back to normal. This loan is going to be helpful because it will take some time to get things back up and hopefully we’ll get back to season and back to normal.

How was the Florida SBDC at USF helpful during this process?
This is the first time we’ve done this and they did an excellent job with communication. Thank you. You did an excellent job and it was excellent service.

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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.

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Land O Lakes-based Dance Academy Keeps Moving with Bridge LoanThe Dance Academy of Pasco County The Dance Academy, of Land O Lakes, specializes in gymnastics, tumbling and dance instruction for children ages 18 months to 18 years. Like many other businesses in Florida, Hurricane Irma left a path of economic damage in its path, in the form of lost revenues and customers as residents fled the state and then began the cleanup efforts. President Susan Sisk and Vice President Jill Bosack, were searching for a way to invest in an additional employee to help them recoup lost enrollments after the hurricane, so they reached out to the Florida SBDC at University of South Florida for assistance in applying for a State of Florida Emergency Bridge Loan. The loan is an interest-free, short-term loan meant to help bridge the gap as businesses attempt to get back to normal. When asked about their experience with the storm and the assistance received, they recalled: What type of damage occurred? We didn't have any physical damage to the facility but our enrollment was down 33% immediately following the hurricane. Typically, September is one of our strongest months for new enrollment. How will the Bridge Loan help? We are going to use the proceeds from the loan to invest in an employee who will specialize in social media to increase awareness of what we do at the building and programs that we already offer. We are also going to add new programs to the facility to help draw new students and new demographics. How was the Florida SBDC at USF helpful during this process? I would say overall that Mitch was very timely. He always had quick responses to any questions that I had either via email or via phone and he was always very accessible. He always got back with me and got the answers. We both walked away from our meeting with Mitch confident that we were going to get the help we needed and that our plan for moving forward would actually have a chance of working. We're thankful that you're here. We know our positions very well but we're not a banker, we're not an investor, so we need organizations like this.Pinellas Park company utilizes SBDC services over 20 year spanPinellas Park company utilizes SBDC services over 20 year span