FL Arranges Loans For Businesses Hurt By Oil Spill

FL Arranges Loans For Businesses Hurt By Oil Spill

By Doug Caverly – Wed, 06/09/2010 – 2:02pm.

Interest-free loans of up to $25,000 for small businesses

If tourists stay away from oil-soaked beaches in Florida this summer (or at least what they perceive to be oil-soaked beaches), small businesses in the state stand to lose a whole lot of money.  Fortunately, Florida’s government is trying to help out by ensuring that interest-free loans are available.

Two points we’ll get out of the way up front: yes, it would be more satisfying if this money was coming from BP.  Also, the loans aren’t huge.

Still, Marcia Heroux Pounds reported yesterday, “Interest-free loans up to $25,000 for 12 months will be available to small business owners with less than 100 employees in counties affected by the oil spill,” with applications becoming available on June 14th.

That should help some businesses in a significant way, and at this point, it seems likely that the national government (and perhaps several class action lawsuits against BP) will be able to kick in an additional sum of money sooner or later.

Also, BP will no doubt join Florida’s tourism board in telling everyone that the area’s still safe and beautiful, so small business owners might have some extra advertising working in their favor in that sense.

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