Fla. Legislature Passes Business Loan Bill

By: Associated Press
By: Associated Press


The state Legislature passed a bill (SB 38-A) Wednesday sought by Gov. Charlie Crist to make $8.5 million available in loans of up to $250,000 for expanding companies employing 10 to 50 people. The measure includes another $1.5 million to provide technical experience to businesses.

Critics said it amounts to corporate welfare. Supporters argued that such "economic gardening" is needed to help businesses that cannot get loans for expansion due to tight credit in the commercial market.

It passed 111-7 in the House and 29-11 in the Senate. The measure now heads to Crist for his signature.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Robert Location: Obrien on Jan 14, 2009 at 01:40 PM
    Did the Legislature write in accountability for this Bill? When will the taxpaying public get a "report card" of who the money went to and how many NEW employees(not rehires) are working as a result of the loans? I hope the state revokes the business license if they fail to pay back the loan, NO MORE free ride defaults.
WCTV 1801 Halstead Blvd. Tallahassee, FL 32309
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 37586299 - wctv.tv/a?a=37586299
Gray Television, Inc.