FFCFC Assists Businesses Damaged by Tornadoes

Florida First Capital Finance Corporation (FFCFC) recently showed its commitment to Florida small businesses by again agreeing to assist the State of Florida’s disaster bridge loan program.

FFCFC has a history of working with the state to help ensure the success of the bridge loan program. Once again it will manage much of the back-office operations for the loan program, which is assisting small businesses affected by the early-February tornado disaster in Central Florida through $1 million in assistance. After the $1,000 to $25,000 loans are approved by state and local sources, FFCFC will manage all of the paperwork and processing for the state – a service it has been offering at virtually no charge for more than a dozen years, primarily for hurricane victims.

The interest free loans are for terms of 90 to 180 days. Eligible businesses must have been established for at least one year, have between two and 100 employees and have experienced physical damage due to the tornado.

“The bridge loan program is providing ready cash for businesses damaged by the recent storm,” said Todd Kocourek, president and CEO of FFCFC. “This is working capital funding that is helping businesses perform critical functions like buying inventory and making payroll.”

.