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Help for Florida SMBs Affected by Oil Spill

July 27, 2010 by Sarah Leave a Comment

Help for Florida SMBs Affected by Oil SpillOn April 20, 2010, the Deepwater Horizon drilling rig exploded, killing eleven workers and injuring several others. It also caused a sea-floor oil gusher, which has caused a massive oil spill. The spill, which has been called the largest offshore spill in United States history, resulted in hundreds of millions of gallons of oil polluting the Gulf of Mexico. Several governors of states along the Gulf Coast declared a state of emergency, as did the federal government. Marine life and wildlife habitats have been harmed, as have many small businesses.

Fishing was banned in about one-third of the Gulf by the National Oceanic and Atmospheric Administration and people canceled their vacations. BP gave the state of Florida $25 million to help promote their beaches, which were said to be unaffected by the oil spill. Hotels offered discounts and free deals and packages. Even so, a University of Central Florida economist called the spill, “the worst disaster in the history of Florida tourism.” It is estimated that Florida’s Paradise Coast could lose $3 billion in revenue this year.

However, the United States Small Business Administration has announced that it will be helping several of Florida’s small businesses. The SBA is offering loans and loan defermention options to fishing-related businesses who were shut down due to the oil spill. Hope is that the loans and deferments will provide temporary assistance to “overcome the loss of revenue” they have experienced this spring and summer.

Many Florida counties are included: Bay, Citrus, Collier, Dixie, Escambia, Franklin, Gulf, Hernando, Hillsborough, Jefferson, Lee, Levy, Manatee, Monroe, Okaloosa, Pasco, Pinellas, Santa Rosa, Sarasota, Taylor and Walton. The adjacent counties of Alachua, Broward, Calhoun, Charlotte, Desoto, Gilchrist, Glades, Hardee, Hendry, Holmes, Jackson, Lafayette, Leon, Liberty, Madison, Marion, Miami-Dade, Polk, Sumter, Wakulla, and Washington. Some Alabama and Georgia counties are included, as well.

The program will offer working capital loans for up to $2 million at 3% interest for non-profit organizations and 4% for businesses with terms up to 30 years. Loans can be used to make payroll, pay debts, accounts payable, and other bills that have been impacted by the oil spill. The SBA is also encouraging small businesses to file claims with BP.

Fishing, shrimping, crabbing, and oyster fishing who fish in the waters that have been shut down are among the main businesses being targeted. Other small businesses that are dependent on shrimp, crabs, and oysters are included, too. Also, businesses who supply fishing gear and fuel, docks, boatyards, processors, wholesalers, shippers, retailers, and other businesses that rely on recreational and sports fishing can get involved.

If you’re a small business in any of the Florida counties mentioned above and you think you may qualify for assistance, contact the SBA’s Customer Service Center at 800-659-2955. The deadline to return applications is February 14, 2011.

Check out these related stories:
1. Florida Computer Rentals
2. Independent Oil Producer Leader Says Senate Vote Sends Signal To Political Opportunists


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Tagged: BP, disaster recovery, Fishing, Florida, Oil Spill, SBA, Small Business Administration, SMBs, Tourism

The South Financial Group Recognized for SMB Banking

February 25, 2010 by Sarah Leave a Comment

The South Financial Group Recognized for SMB Banking

The South Financial Group, headquartered in Greenville, South Carolina, has won 2009 “Excellence in Small Business Banking” awards from Greenwhich Associates. The company won in both the regional and national categories. The bank was also one of nineteen national banks to be recognized for “overall satisfaction.”

The South Financial Group is actually a bank holding company, that focuses on serving SMBs in North and South Carolina (12% and 45% of customers) respectively, and Florida (43% of customers). At the end of 2001, it had about $11.9 billion assets and 177 branch offices. Its known as Carolina First bank in the Carolinas and Mercantile Bank in Florida.

Ernie Diaz, president of the Florida branches of the bank had this to say about the award, “These awards illustrate our commitment to understanding the needs of business owners and working together to meet their specific needs.”

The Market President of Carolina First Bank, David Lominack, added, “Delivering on our relationship banking model continues to be our goal, and these awards reflect the value our bankers place on exceeding customer expectations.”

The company won three awards overall: “Overall Satisfaction” in the National category, “Relationship Management Performance” in the National category, and “Overall Satisfaction” in the Southern Regional category.


Looking for a GeoVison Security Camera System to help secure your small or medium business? Call www.CameraSecurityNow.com today at 877-422-1907 for a free phone consultation. Ask about the new Hybrid DVR/NVR surveillance solutions.

Tagged: banking, Florida, Greenwhich Associates, North Carolina, SMB, South Carolina, South Financial Group

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