Businesses Receive SBA and Florida Funds to Help Weather Crisis
July 23, 2020
FOR IMMEDIATE RELEASE
Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4879 or firstname.lastname@example.org
Orlando, FL – In the face of the economic damage reeked by the COVID-19 pandemic on small businesses in Central Florida, the Florida Small Business Development Center at the University of Central Florida (FSBDC at UCF) has helped and is helping companies across the region put disaster assistance programs to work for them, including accessing critically-needed funding and develop recovery, resiliency and continuity plans for the future – all at no cost to its clients.
As of July 6th, the FSBDC at UCF has helped 483 local businesses obtain $40.2 million in COVID-19 assistance:
- $17.3 million in SBA Paycheck Protection Program (PPP) funds
- $11.6 million in SBA Economic Injury Disaster Loans (EIDL)
- $11.2 million in Florida Small Business Emergency Bridge Loans (EBL)
In addition, the FSBDC at UCF has launched a COVID-19 Relief Program designed to assist companies with recovery from the pandemic’s economic damage, build resiliency for weathering future disasters and put plans in place to support business continuity and growth into the future. With expanded resources invested in newly formed Business Recovery Teams, participating FSBDC clients can expect significant assistance with developing strategies and action plans to put them on the path back to pre-COVID-19 business performance.
“Accessing this funding and putting plans in place to navigate the ‘new normal’ is and will continue to be critical to our small business clients recovering from the unprecedented damage they have suffered from the COVID-19 pandemic,” said Eunice Choi, regional director of the FSBDC at UCF. “Helping them manage through this challenging time and put their businesses in position to grow and succeed again is why the FSBDC is here.”
Consultants at the FSBDC have provided guidance on the most appropriate funding options, eligibility requirements, application best practices, and the approval process and timing. Once funds are received, they have provided recommendations on their best uses and how to be positioned for success in the new economic landscape. In addition, the FSBDC has offered information about relevant webinars and access to necessary market research.
Going forward, its consultants will be providing their high-value, confidential consulting at no cost to help small-and medium-sized businesses with their ongoing recovery.
— FSBDC –
About the FSBDC at UCF
Hosted by the University of Central Florida (UCF), and with its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the Florida Small Business Development Center at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Partnership & Innovation and the Florida SBDC Network.
The Florida SBDC at UCF provides aspiring and existing small businesses with no-cost consulting, low-cost training, and access to business data and research resources. In addition to its core service offering, the Florida SBDC at UCF also offers specialized services to qualifying companies, including capital access, market growth, government contracting, international trade, business continuation, cybersecurity, disaster planning and recovery, and more. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.
In 2018, the FSBDC at UCF served over 2,500 entrepreneurs in Central Florida with consulting services, resulting in more than 6,500 jobs created, retained or saved; $749 million in sales growth; $36.1 million in capital formation; $178.3 million in government contract awards; and 277 new businesses started. For more information, please visit www.sbdcorlando.com.
About the Florida SBDC Network
For over forty years, the Florida SBDC Network, the state’s principal provider of business assistance [Fl. Stat. 288.001], has nourished a statewide partnership between higher education and economic development to provide existing and emerging small and medium-sized business owners with management and knowledge resources that enable overall growth, increased profitability, and economic prosperity for Florida’s economy.
In 2018, Florida SBDCs have provided professional business consulting to 11,500 client businesses, resulting in more than 38,400 jobs impacted; $4.4 billion in sales generated; $520 million in government contracts acquired; $201.8 million in capital accessed; and 665 new businesses started.
A statewide network of over 40 offices, the Florida SBDC is funded in part by the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network, headquartered at the University of West Florida, is nationally accredited by the Association of SBDCs and is a 2016 recipient of the President’s E Award for Export Service. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for individuals with limited English proficiency. For more information, please visit www.FloridaSBDC.org.
FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862