For Small Businesses Applying For Emergency Loans, Timing Is Critical
Coronavirus has had a sudden and painful impact on Florida businesses.
Gaby Ortigoni is president of the Hispanic Chamber of Commerce of Metro Orlando. She said a lot of small businesses are trying to stay afloat by applying for emergency loans.
And they are learning that timing is critical, she said.
“People really need to be prepared,” Ortigoni said. “When it comes to filling out the paperwork, they cannot wait until the bank calls them back to then start putting all the documents together. Because that extra day, that extra hour or extra week that they are taking is going to cost them.”
CORONAVIRUS: Complete Coverage From WUSF And Health News Florida
Last week, the state issued 1,000 emergency loans to Florida companies before running out of money. More than 37,000 businesses applied for help.
This story is produced in partnership with America Amplified, an initiative using community engagement to inform local journalism. It is supported by the Corporation for Public Broadcasting.