U.S. Small Business Administration opens red tide recovery center in Collier

The U.S. Small Business Administration opened a recovery center Tuesday in Collier County for businesses affected by Southwest Florida's algae crisis.

The center, located at the CareerSource Southwest Florida office, 3050 Horseshoe Drive N., Suite 110, will offer in-person assistance for businesses, cooperatives and non-profit organizations that may have seen detrimental financial affects from red tide or other toxic algae.

Other similar business recovery centers have opened in Lee, Pasco, Manatee, Pinellas and Sarasota counties.  

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Office hours are 9 a.m. to 6 p.m. Monday through Friday, and 10 a.m. to 2 p.m. Saturday. Saturday could be the last day for the Collier location unless there are enough clients coming in that would cause the center to stay open longer. That decision is pending.

A red tide is a harmful algal bloom with higher than normal concentrations of an algae species called Karenia brevis, according to the Florida Fish and Wildlife Conservation Commission. 

The blooms often litter beaches with dead marine life, and some people exposed to red tide experience respiratory irritation, skin irritation and burning eyes, according to the FWC.

The latest red tide bloom began just over a year ago and has stretched from northern Collier County to Tampa Bay. Red tide has largely been absent from Collier and Lee beaches in recent days.

Client traffic at the Collier location has been slow so far, though more clients typically come in as the word gets out about the locations, said David Courtright, a customer service representative working at the Collier location this week.

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The kinds of businesses and organizations using the services often are water-based or tourism-related, including charter boats, fisherman, hotels, condo rentals, house cleaners and pet sitters, Courtright said.

“With the red tide, a lot of business owners may not have the capital to operate normally,” he said.

Eligible businesses may qualify for loans up to $2 million with terms up to 30 years. The interest rate for small businesses is 3.4 percent and the rate for non-profit organizations is 2.5 percent.

Misconceptions about the program are common, Courtright said. He said business owners think they need to take the whole loan for which they’ve been approved, that they can’t afford the loan or wouldn’t qualify.

Additionally, there are no prepayment penalties, no late fees and it’s possible to defer the first payment, Courtright said.

Each business is evaluated based on what their tax returns show and their repayment ability, Small Business Administration spokesman Greg Dawson said.

“If they’ve been impacted, now would be the time to apply while we’ve got someone on the ground who can help,” Dawson said.

The center does not take appointments, Courtright said, so applicants are encouraged to stop by.