Florida Small Business Emergency Bridge Loans Failed For Florida SMALL Business’s

About a week ago I read a story on Spectrum 13 Orlando written by Greg Angel. The headline was “Who got the Florida Bridge Loans? We have the list”. After downloading the list I reached out to Greg. His story is short but identifies a few business’s that cashed in big. After researching a few of the business’s I was shocked.

According to Gov DeSantis these loans are for “Small” business’s that have been impacted by the coronavirus. These loans are interest-free for up to one year and are designed to bridge the gap to either federal SBA loans or commercially available loans. More can be read here.

But did Small business’s in Florida really benefit from this program? Or did the Rich get Richer by taking advantage of low interest loans? And a better question to ask Gov DeSantis is, What is his definition of a Small Business?

Now to the MONEY. After reviewing the first to get my attention was a company in Orlando. The company name is Feltrim Group. What do they do? Real estate development, Vacation homes, Management and Rentals. According to the info I found online his business is worth $600Mil. The Founder and CEO is Garrett Kenny who is also a member of Forbes Real Estate Council. Would you consider this a Small Business? Anywho Garrett applied and received $150,000. Meet the Multi Million Dollar Company that received a SMALL Business loan.

Now that’s not the only one or the one that received the most money. This one is a shocker. A Law Firm received $100,000. Funny thing is they have advertised on their site they have added remote consultations. I’ve dealt with attorney’s and 90% of the time it’s via phone. Did they really need the money? I mean, Law Firm….

I’m not going in detail on the rest but you can scroll through the screenshots below and see the multiple loans received by individuals. These are just a few. For the complete list Click HERE.

Looking at all these Where is the Oversite? These Loans were suppose to help Small Business’s not Law Firms, Multi Million dollar companies, Chain restaurants, Chain Hotels and people with multiple business’s. This program would have been Great for our Small Business’s. But instead of Help them it Failed them. But then this is an example of failed Government oversite.