The Pasco Economic Development Council, Inc. is helping put out fires in Tampa Bay, literally, by awarding its fifth microloan to Suncoast Fire Safety. Suncoast Fire Safety is located in New Port Richey.
“This microloan will help grow our inventory supply and upgrade our equipment,” said Richard Norwood, CEO of Suncoast Fire Safety. “Additionally, it will enable us to expand into the first aid and emergency light field to a greater extent than what we are doing at this time.”
In business since 1971, Suncoast Fire Safety provides assistance to the State of Florida Fire Marshalls by helping businesses keep in compliance with state and local fire safety laws. One way they do this is by supplying fire extinguishers and fire suppression systems to Tampa Bay area businesses from Ocala to Sarasota, and Tampa to Orlando.
“It’s great to be able to help a local business that is helping other area businesses,” said John Hagen, President/CEO of Pasco EDC. “Ironically, We are trying to use our microloan program to set the entrepreneurial world on fire; Suncoast Fire Safety is trying to help these same businesses put fires out.”
The Pasco EDC microloan fund is creating an enormous amount of energy in the small business community of Pasco County. “We’ve received hundreds of calls inquiring about the microloan program and several applications are in the works,” said Krista Hakes, Pasco EDC’s Economic Development Manager. The large number of inquiries shows the depth of entrepreneurial activity in Pasco County, and Pasco EDC is urging banks and other companies to consider donating to the fund.
The Pasco EDC microloan fund was established to help local entrepreneurs who cannot obtain traditional financing to grow their business and create jobs. Companies who need help obtaining non-traditional financing and are headquartered in Pasco County, or planning to locate in Pasco County, should consider applying for a microloan.
Borrowers must show they have the experience and resources to be successful business operators. Proceeds may be used for working capital, inventory, supplies, furniture, fixtures, machinery and equipment, but not to purchase real estate or to refinance existing debt. Please visit www.pascoedc.com or call 813-926-0827 for more information.