The U.S. Small Business Administration has extended its disaster loan program to include Pinellas and Pasco county businesses affected by Red Tide.
Already, the Pinellas County Economic Development Office was taking applications for bridge loans to help small beach-side businesses get through the sudden loss of income. Those loans are meant to hold businesses over until the federal program kicks in.
Red Tide, an algae bloom toxic to sea life, has caused several tons of fish to die in the Gulf of Mexico since it crept into Tampa Bay waters about two weeks ago. Dead fish have washed up on the shores of some of Pinellas County's beaches.
The putrid smell has driven away tourists and locals, turning some of area's most popular destinations into ghost towns.
Read more Tampa Bay businesses feel Red Tide's sting: 'Our sales are going to be our lowest ever'
The federal loans have a maximum interest rate of 3.385 percent and terms can last up to 30 years. Applications are due by June, 4 2019 and can be filled out at disasterloan.sba.gov/ela.
Businesses seeking more information can go to SBA's recovery center inside the St. Petersburg College EpiCenter starting Sept. 25. SBA employees will be in the center's suites 2-200 at 13805 58th Street N. in Clearwater to assist businesses with applications and questions starting at 11 a.m.
The deadline for bridge loans is Oct. 12.
Pasco County was added to SBA's list because of its proximity to Pinellas County — the same reason Hillsborough County was added after Manatee County was declared in need of aid due to Red Tide earlier this month. Gov. Rick Scott had written a letter to SBA requesting Pinellas and other counties receive low-interest loans last month.
As of Monday, 15 businesses had already inquired with the local office about applying for bridge loans.
The Pinellas County Economic Development Office says that number has continued to grow but could not provide an updated number.
Contact Sara DiNatale at sdinatale@tampabay.com. Follow @sara_dinatale.
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