TSecret

FSBDC at UCF, TSecrets, Florida, Irma, Bridge Loan, Pauline Davis, Disaster Recovery

Caroline Yachán, President of TSecrets with FSBDC at UCF Assistant Director Pauline Davis

Located in Orlando, FL TSecret manufactures natural skin care products for the professional spa and salon market with a laboratory in Winter Park, FL, as well as operating a skin care clinic in College Park, FL where treatments for acne and other skin conditions are offered. In September 2017, TSecret sustained significant damage due to Hurricane Irma. Caroline Yachan, president of TSecret, turned to the Florida SBDC at the University of Central Florida (UCF) for help securing a Florida Small Business Emergency Bridge Loan.  When asked about her experience with the hurricane and the assistance received, she recalled:

What type of damage occurred?

We experienced damage to both sides of our business. Our manufacturing facility is also our warehouse and laundry. We spent money on outside labor to prepare for and recover from the storm.

Then we were without power for almost two weeks. Our raw materials and inventory are stored in refrigerators there and they were lost.

And our clinic lost revenues from cancellations before and after the hurricane, and of course during the storm when we were closed.

Plus the power outage at the manufacturing facility meant we had to pay overtime to some of our staff who had power and could do laundry for the clinic.

How helpful was the Emergency Bridge Loan?

With the expenses we have had, the lost revenues and the lost raw materials and inventory, the loan is so important to helping us get us past those costs, replenish our stocks and get our cash flow going again.

How helpful was the Florida SBDC at UCF?

The FSBDC has been so helpful. Incredibly helpful. We were already working with them and they recommended the Bridge Loan. When we decided to apply, we got a call almost immediately. And they were incredibly responsive to all our questions. Then today we got a call to come pick up a check. And we said, “What? Already? This is crazy.” And it was incredible timing because we had big bills that needed to be paid and there was the money. The FSBDC was so awesome.

About the Florida Small Business Emergency Bridge Loan Program

Administered by the Florida Department of Economic Opportunity, in collaboration with the Florida SBDC Network, and supported by Florida First Capital Finance Corporation (FFCFC), the Florida Small Business Emergency Bridge Loan is a short-term, interest-free working capital loan intended to help small businesses “bridge the gap” between the time of a declared disaster and when the business has secured long-term recovery resources, such as insurance proceeds or federal disaster assistance. Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan program on Thursday, September 14 and the first loan was distributed the following Monday. Eligible businesses with two to 100 employees may apply for loans up to $50,000 for 90 or 180-day terms.

As a principal responder in the state’s Emergency Support Function for Business, Industry, and Economic Stabilization, the Florida SBDC Network supports disaster preparedness, response, recovery, and mitigation through its Business Continuation Services. As part of its service offering, Florida SBDC professionally certified consultants and disaster specialists are available to provide confidential, no-cost consulting to help affected businesses prepare disaster loan applications and with other post-disaster challenges.

Sod Depot

Sod Depot, Jill McLaughlin, FSBDC at UCF

Luis Silva of Sod Depot with FSBDC at UCF Consultant Jill McLaughlin

Located in Orlando, FL Sod Depot is an agriculture business, the company provides commercial and residential sod and installation to the public and trade, as well as delivery of landscaping materials (dirt, fertilizer, mulch and rocks) and irrigation repair and enhancement services. In September 2017, Sod Depot sustained severe financial damage due to Hurricane Irma. Luis Silva, owner of the company, turned to the Florida SBDC at the University of Central Florida (UCF) for help securing a Florida Small Business Emergency Bridge Loan.  When asked about his experience with the hurricane and the assistance received, he recalled:

What type of damage occurred?

Flooding damaged the sod on the farms, loss of power made it impossible to sell anything and our client’s – mostly contractors — businesses came to a standstill so there was no demand for our products during those two weeks. We couldn’t get inventory and our revenues were non-existent.

How helpful was the Emergency Bridge Loan?

This is our slow period in advance of November when the snow birds arrive. The loan will be used for just what it’s called: a bridge to get us to our busier times and increased revenues. It makes sure that hit from payroll doesn’t sap our resources.

How helpful was the Florida SBDC at UCF?

I’ve dealt with banks and other institutions, and you know how time consuming it can be. With the FSBDC, I sent an email and heard back almost instantaneously. They gave me a list of what was needed. I got it to them. And they were so fast. It only took 2 – 3 days. It was insane. I was taken aback. You guys are awesome.

About the Florida Small Business Emergency Bridge Loan Program

Administered by the Florida Department of Economic Opportunity, in collaboration with the Florida SBDC Network, and supported by Florida First Capital Finance Corporation (FFCFC), the Florida Small Business Emergency Bridge Loan is a short-term, interest-free working capital loan intended to help small businesses “bridge the gap” between the time of a declared disaster and when the business has secured long-term recovery resources, such as insurance proceeds or federal disaster assistance. Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan program on Thursday, September 14 and the first loan was distributed the following Monday. Eligible businesses with two to 100 employees may apply for loans up to $50,000 for 90 or 180-day terms.

As a principal responder in the state’s Emergency Support Function for Business, Industry, and Economic Stabilization, the Florida SBDC Network supports disaster preparedness, response, recovery, and mitigation through its Business Continuation Services. As part of its service offering, Florida SBDC professionally certified consultants and disaster specialists are available to provide confidential, no-cost consulting to help affected businesses prepare disaster loan applications and with other post-disaster challenges.

Pet Lodge & Spa

Located in Leesburg, FL Pet Lodge & Spa is a Professional pet lodging, daycare and spa / bathing services. In September 2017, Pet Lodge & Spa sustained severe financial damage due to Hurricane Irma. Sandra Metcalf, President of the company, turned to the Florida SBDC at the University of Central Florida (UCF) for help securing a Florida Small Business Emergency Bridge Loan.  When asked about his experience with the hurricane and the assistance received, she recalled:

What type of damage occurred?

Financial impact was significant. With the announcement of the impending hurricane, we lost about 70% of our bookings and all the associated revenue. In addition, we have a no layoffs philosophy so we kept our employees working and incurred the related payroll expenses.  Drastically curtailed revenues while maintaining full operation overhead expenses over a 7 – 10 day period damaged us financially.

How helpful was the Emergency Bridge Loan?

This is our slow period in advance of November when the snow birds arrive. The loan will be used for just what it’s called: a bridge to get us to our busier times and increased revenues. It makes sure that hit from payroll doesn’t sap our resources.

How helpful was the Florida SBDC at UCF?

I’m a retired banker, on the lending side. I am flabbergasted by how fast and professional this experience has been. We sent our application in last Tuesday, and here we are a week later on Thursday – 9 days later — and we’re closing and the loan is being disbursed. Unheard of. Unbelievable.

About the Florida Small Business Emergency Bridge Loan Program

Administered by the Florida Department of Economic Opportunity, in collaboration with the Florida SBDC Network, and supported by Florida First Capital Finance Corporation (FFCFC), the Florida Small Business Emergency Bridge Loan is a short-term, interest-free working capital loan intended to help small businesses “bridge the gap” between the time of a declared disaster and when the business has secured long-term recovery resources, such as insurance proceeds or federal disaster assistance. Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan program on Thursday, September 14 and the first loan was distributed the following Monday. Eligible businesses with two to 100 employees may apply for loans up to $50,000 for 90 or 180-day terms.

As a principal responder in the state’s Emergency Support Function for Business, Industry, and Economic Stabilization, the Florida SBDC Network supports disaster preparedness, response, recovery, and mitigation through its Business Continuation Services. As part of its service offering, Florida SBDC professionally certified consultants and disaster specialists are available to provide confidential, no-cost consulting to help affected businesses prepare disaster loan applications and with other post-disaster challenges.

Marco’s Pizza

Marco's Pizza, Ocoee, FSBDC at UCF, Pauline Davis, Orlando, Orange County

Ketan Desai, Owner of Marco’s Pizza, with FSBDC at UCF Assistant Director Pauline Davis

Located in Ocoee, FL Marco’s Pizza is a franchise restaurant serving specialty or custom pizzas, submarine sandwiches and salads for takeout or delivery. In September 2017, Marco’s Pizza sustained financial and operational damage due to Hurricane Irma. Ketan Desai, owner of the company, turned to the Florida SBDC at the University of Central Florida (UCF) for help securing a Florida Small Business Emergency Bridge Loan.  When asked about his experience with the hurricane and the assistance received, he recalled:

What type of damage occurred?

Everything at Marco’s Pizza is sold fresh. Loss of power meant complete spoilage of all of our refrigerated food inventory. Five (5) days with no power meant we were closed and lost revenue for all that time.

How helpful was the Emergency Bridge Loan?

With the loss of all of our food inventory and all of our revenues, we were in crisis. The Bridge Loan means we can order food and get going. It puts us back on track and gets the revenues flowing.

How helpful was the Florida SBDC at UCF?

The FSBDC at UCF was very helpful. I have worked with them before. I reached out to my consultant Pauline Davis and it was just doing the paperwork. They put me on the ‘Fast Track’ and I had my loan. No stress and it was done.

About the Florida Small Business Emergency Bridge Loan Program

Administered by the Florida Department of Economic Opportunity, in collaboration with the Florida SBDC Network, and supported by Florida First Capital Finance Corporation (FFCFC), the Florida Small Business Emergency Bridge Loan is a short-term, interest-free working capital loan intended to help small businesses “bridge the gap” between the time of a declared disaster and when the business has secured long-term recovery resources, such as insurance proceeds or federal disaster assistance. Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan program on Thursday, September 14 and the first loan was distributed the following Monday. Eligible businesses with two to 100 employees may apply for loans up to $50,000 for 90 or 180-day terms.

As a principal responder in the state’s Emergency Support Function for Business, Industry, and Economic Stabilization, the Florida SBDC Network supports disaster preparedness, response, recovery, and mitigation through its Business Continuation Services. As part of its service offering, Florida SBDC professionally certified consultants and disaster specialists are available to provide confidential, no-cost consulting to help affected businesses prepare disaster loan applications and with other post-disaster challenges.

Circuit Motorsports

Circuit Motorsports, Roger Greenwald, Tristan Sothern

Tristan Sothern (L) with FSBDC at UCF Roger Greenwald

Located in Casselberry, FL Circuit Motorsports provides high quality aftermarket vehicle performance parts, service and tuning to automobile enthusiasts, specializing in performance upgrades and installations, maintenance and repair and other forms of custom work. In September 2017, Circuit Motorsports sustained physical damage due to Hurricane Irma. Tristan Sothern, CEO of the company, turned to the Florida SBDC at the University of Central Florida (UCF) for help securing a Florida Small Business Emergency Bridge Loan.  When asked about his experience with the hurricane and the assistance received, he recalled:

What type of damage occurred?

Our building was damaged, with leaking through the roof and water intrusion through the walls. Besides that, we didn’t have internet for about two and one-half weeks. We were essentially closed. It hurt revenues and cash flow and our working capital.

How helpful was the Emergency Bridge Loan?

Just getting us going again, and try to make up for those lost weeks of revenue, getting the schedule filled back up and cover payroll as we do.

How helpful was the Florida SBDC at UCF?

FSBDC was very helpful. I called in and got my questions answered, sent in the paperwork I supposed to send in. It was a pretty quick turnaround: about a week. Here I am getting a check. It all worked pretty well.

About the Florida Small Business Emergency Bridge Loan Program

Administered by the Florida Department of Economic Opportunity, in collaboration with the Florida SBDC Network, and supported by Florida First Capital Finance Corporation (FFCFC), the Florida Small Business Emergency Bridge Loan is a short-term, interest-free working capital loan intended to help small businesses “bridge the gap” between the time of a declared disaster and when the business has secured long-term recovery resources, such as insurance proceeds or federal disaster assistance. Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan program on Thursday, September 14 and the first loan was distributed the following Monday. Eligible businesses with two to 100 employees may apply for loans up to $50,000 for 90 or 180-day terms.

As a principal responder in the state’s Emergency Support Function for Business, Industry, and Economic Stabilization, the Florida SBDC Network supports disaster preparedness, response, recovery, and mitigation through its Business Continuation Services. As part of its service offering, Florida SBDC professionally certified consultants and disaster specialists are available to provide confidential, no-cost consulting to help affected businesses prepare disaster loan applications and with other post-disaster challenges.

Barracuda Building Corp.

Kathleen Thompson, Barracuda Building Corp, FSBDC at UCF, Jill McLaughlin

Kathleen Thompson (L) with FSBDC at UCF Consultant Jill McLaughlin

Located in Apopka, FL, Barracuda Building Corp. is a certified general contractor operating across Central Florida specializing in underground utility pipe and site construction projects with some vertical construction. In September 2017, Barracuda Building Corp sustained economic and operational damage due to Hurricane Irma. Kathleen Thompson, owner of the company, turned to the Florida SBDC at the University of Central Florida (UCF) for help securing a Florida Small Business Emergency Bridge Loan.  When asked about her experience with the hurricane and the assistance received, he recalled:

What type of damage occurred?

Prior to the storm hitting, we had three contracts that were about to start. All of them were delayed by the hurricane and we had no revenue coming in as a result. We had no internet for two weeks; and you know it’s really hard doing business without the internet.

We were closed down for the first time in 15 years. And we still had all the expenses of running the business. You’re still paying the bills, but when money is not coming in, that’s difficult.  And when you’re shut down, you can’t pay anyone. And that’s the hardest part.

How helpful was the Emergency Bridge Loan?

This is really going to help a lot. We are only just starting two of those delayed projects, and the third is still on hold and backlogged. This will help our cash flow very much. Once we knew we had the loan, we knew we’d be all right.

How helpful was the Florida SBDC at UCF?

It was real easy working with the FSBDC. Very smooth and fast; it felt like it all happened over the weekend. We called Thursday-Friday, and here we are on Thursday getting the check.

About the Florida Small Business Emergency Bridge Loan Program

Administered by the Florida Department of Economic Opportunity, in collaboration with the Florida SBDC Network, and supported by Florida First Capital Finance Corporation (FFCFC), the Florida Small Business Emergency Bridge Loan is a short-term, interest-free working capital loan intended to help small businesses “bridge the gap” between the time of a declared disaster and when the business has secured long-term recovery resources, such as insurance proceeds or federal disaster assistance. Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan program on Thursday, September 14 and the first loan was distributed the following Monday. Eligible businesses with two to 100 employees may apply for loans up to $50,000 for 90 or 180-day terms.

As a principal responder in the state’s Emergency Support Function for Business, Industry, and Economic Stabilization, the Florida SBDC Network supports disaster preparedness, response, recovery, and mitigation through its Business Continuation Services. As part of its service offering, Florida SBDC professionally certified consultants and disaster specialists are available to provide confidential, no-cost consulting to help affected businesses prepare disaster loan applications and with other post-disaster challenges.

Jimmy Hula’s

Jimmy Hula's, Christie Island Shack, Blake Blair

Blake Blair with FSBDC at UCF Assistant Director Pauline Davis

Located in Altamonte Springs, FL Jimmy Hula’s is a quick-casual restaurant with island/California/surf theme offering fish tacos, burgers, sandwiches, beer & wine. In September 2017, Jimmy Hula’s sustained physical damage to their facility. Blake C. Blair, Managing Member of the company, turned to the Florida SBDC at the University of Central Florida (UCF) for help securing a Florida Small Business Emergency Bridge Loan.  When asked about his experience with the hurricane and the assistance received, he recalled:

What type of damage occurred?

We experienced a total loss of the awning, exterior fans, electrical conduit. We had damage to landscaping, trees & limbs, and some areas of the building. Loss of power meant complete spoilage of all of our refrigerated food. Nine (9) days with no power meant we were closed and lost revenue for all that time.

How helpful was the Emergency Bridge Loan?

Just like the title, it bridges the gap and gives me the funds necessary to get repairs done before the insurance claim comes back to me. It gets us up and running again, and means we can get revenue flowing again.

How helpful was the Florida SBDC at UCF?

They were very helpful and quick. Guided me through what I needed to do. Turnaround was fast. Had a check to me in less than a week. I’d recommend them to anyone in a disaster recovery situation.

About the Florida Small Business Emergency Bridge Loan Program

Administered by the Florida Department of Economic Opportunity, in collaboration with the Florida SBDC Network, and supported by Florida First Capital Finance Corporation (FFCFC), the Florida Small Business Emergency Bridge Loan is a short-term, interest-free working capital loan intended to help small businesses “bridge the gap” between the time of a declared disaster and when the business has secured long-term recovery resources, such as insurance proceeds or federal disaster assistance. Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan program on Thursday, September 14 and the first loan was distributed the following Monday. Eligible businesses with two to 100 employees may apply for loans up to $50,000 for 90 or 180-day terms.

As a principal responder in the state’s Emergency Support Function for Business, Industry, and Economic Stabilization, the Florida SBDC Network supports disaster preparedness, response, recovery, and mitigation through its Business Continuation Services. As part of its service offering, Florida SBDC professionally certified consultants and disaster specialists are available to provide confidential, no-cost consulting to help affected businesses prepare disaster loan applications and with other post-disaster challenges.

Allen Sportswear

Allen Sportswear, Florida SBDC at UCF, FSBDC at UCF, FSBDC Oviedo

Todd Marinshaw, CEO of Allen Sportswear, and Pauline Davis, assistant director for the Florida SBDC at UCF

Located in Oviedo, Allen Sportswear is an Internet-based sportswear company that sells team uniforms and apparel to high schools, colleges, and club traveling teams. In September 2017, the company sustained severe flooding damage from Hurricane Irma. Todd Marinshaw, CEO of the company, turned to the Florida SBDC at the University of Central Florida (UCF) for help securing a Florida Small Business Emergency Bridge Loan.  When asked about his experience with the hurricane and the assistance received, Marinshaw recalled:

What type of damage occurred?

Our business sustained severe flooding. We lost internet and power for more than a week and could not make a single sale during that time. Cash flow evaporated and revenue was lost.

How helpful was the Emergency Bridge Loan?

With zero cash flow and no sales, we are behind on pretty much every credit card right now. The bridge loan will keep us out of any kind of credit trouble or issues. It will help us get back on track. We were really struggling.

How helpful was the SBDC?

The Florida SBDC was great. They were quick, fast, and easy to work with. They did all the legwork and were awesome.

About the Florida Small Business Emergency Bridge Loan Program

Administered by the Florida Department of Economic Opportunity, in collaboration with the Florida SBDC Network, and supported by Florida First Capital Finance Corporation (FFCFC), the Florida Small Business Emergency Bridge Loan is a short-term, interest-free working capital loan intended to help small businesses “bridge the gap” between the time of a declared disaster and when the business has secured long-term recovery resources, such as insurance proceeds or federal disaster assistance. Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan program on Thursday, September 14 and the first loan was distributed the following Monday. Eligible businesses with two to 100 employees may apply for loans up to $50,000 for 90 or 180-day terms.

As a principal responder in the state’s Emergency Support Function for Business, Industry, and Economic Stabilization, the Florida SBDC Network supports disaster preparedness, response, recovery, and mitigation through its Business Continuation Services. As part of its service offering, Florida SBDC professionally certified consultants and disaster specialists are available to provide confidential, no-cost consulting to help affected businesses prepare disaster loan applications and with other post-disaster challenges.

Little Explorer Academy

Marnie Foresieri; Pauline Davis; FSBDC, Little Explorer Academy

Marnie Forestieri’s (L) and Florida SBDC at UCF and consultant Pauline Davis (R)

Located in Oviedo, Little Explorer Academy is a child care center for children ages 0-5 that specializes in early childhood STEM education. In September 2017, Little Explorer Academy sustained physical damage to their facility. Marnie Forestieri, CEO of the company, turned to the Florida SBDC at the University of Central Florida (UCF) for help securing a Florida Small Business Emergency Bridge Loan.  When asked about her experience with the hurricane and the assistance received, she recalled:

What type of damage occurred?

Our playgrounds were damaged. Turf, landscaping, and structures were all affected and left either unusable or dangerous.

How helpful was the Emergency Bridge Loan?

The Bridge Loan was absolutely handy. Structures are very expensive. Insurance doesn’t cover it. After deductibles, it wasn’t worth making the claim. This loan will help us rebuild our playgrounds. The kids are going to be very, very happy.

How helpful was the Florida SBDC at UCF?

They were absolutely amazing. I came in on a Thursday afternoon and two business days later I had the money from the loan. It was absolutely great service. From the beginning to the end, a great experience.

About the Florida Small Business Emergency Bridge Loan Program

Administered by the Florida Department of Economic Opportunity, in collaboration with the Florida SBDC Network, and supported by Florida First Capital Finance Corporation (FFCFC), the Florida Small Business Emergency Bridge Loan is a short-term, interest-free working capital loan intended to help small businesses “bridge the gap” between the time of a declared disaster and when the business has secured long-term recovery resources, such as insurance proceeds or federal disaster assistance. Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan program on Thursday, September 14 and the first loan was distributed the following Monday. Eligible businesses with two to 100 employees may apply for loans up to $50,000 for 90 or 180-day terms.

As a principal responder in the state’s Emergency Support Function for Business, Industry, and Economic Stabilization, the Florida SBDC Network supports disaster preparedness, response, recovery, and mitigation through its Business Continuation Services. As part of its service offering, Florida SBDC professionally certified consultants and disaster specialists are available to provide confidential, no-cost consulting to help affected businesses prepare disaster loan applications and with other post-disaster challenges.

 

Nutritious Lifestyles, Inc.

The transition from entrepreneur to manager isn’t always easy. Especially when you have a company that, after hitting some early potholes, has hit its stride and is now growing fast.

But that’s the challenge that Janet Mckee was facing. Her company, Nutritious Lifestyles, Inc., provides nutrition and food service consulting services to the healthcare community, including skilled nursing facilities, long-term care facilities, rehabilitation facilities, hospitals, children’s medical services, behavioral facilities, assisted living facilities and more. Its combination of cost-effective solutions, superior customer service and positive patient outcomes has been winning new clients and fueling revenue growth in the past few years.

Nutritious Lifestyles; Jill Kaufman; Advisory Board Council, FSBDC at UCF;

Owner of Nutritious Lifestyles, Inc. (L) and FSBDC Advisory Board Council Program Manager Jill Kaufman

It wasn’t always that way, though. Early on, Mckee experienced major challenges. “I needed help,” she recalls today. “We were experiencing human resources problems. We had lost a lot of business. I’d gotten the company to a certain level but was uncertain about where to go next. I felt like I needed people who had more experience to help guide me.”

Fortunately, the Florida SBDC at UCF (FSBDC at UCF) had a program tailor made for established, second-stage companies like Nutritious Lifestyles and for CEO Mckee: the Advisory Board Council (ABC). The Advisory Board Council is a no-cost board of experts providing advice and counsel to help businesses grow.  It acts as a matchmaker between established local businesses like Mckee’s and area professionals who volunteer their expertise as members of an advisory board, with the volunteers selected to address the specific needs of the FSBDC client.

“As an entrepreneur and the founder of a woman-owned business, I’d learned the hard way that you can’t do everything yourself,” says Mckee. “The FSBDC and the ABC program manager Jill Kaufman put together a board of advisors that was a great fit for my business. They were knowledgeable and experienced. I could bounce ideas off of them. I got honest feedback that I may not have always liked hearing but always helped me. But they guided me in setting growth parameters, establishing an internal infrastructure and forming my management team.  From there, my board has helped me create plans to expand into new markets and facilitate further growth.”

With the assistance of the FSBDC and her Advisory Board Council, Mckee has embraced her role as a manager and taken Nutritious Lifestyles to its next level of success. The company has grown by 25% over the past two years. It is negotiating a contract with a new client worth almost $1 million. It is hiring and training new team members every day.

“When you are experiencing this kind of growth, you need to have people and systems in place to ensure the quality of the product and of your customer service, and that you are meeting or exceeding customer expectations,” says Mckee. “We’re accomplishing those goals today and I feel like the future of my company is very bright.”

“The FSBDC and my Advisory Board have been very helpful getting us to this point,” Mckee concluded. “They have been extremely flexible and a wealth of information and guidance, a huge resource. It’s been a total win-win for Nutritious Lifestyles and me.”