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New Bill Aims to Support Florida Small Businesses Amid Construction

Florida Small Businesses Affected by Construction

News Summary

House Bill 215 is currently under consideration in Florida to assist small businesses facing financial difficulties due to disruptive road construction. The bill, backed by State Representative Anna Eskamani, proposes grants of up to $25,000 and low-interest loans of up to $100,000 to help struggling business owners recover lost revenues. Meanwhile, concerns about potential fraud and the complexities of financial losses associated with the bill have been raised by other representatives, indicating a challenging path ahead. Additionally, a local man faces distress after losing his life savings due to a misleading investment scheme.

New Bill Aims to Rescue Small Businesses in Florida Amid Road Construction Challenges

In sunny Florida, a new bill known as House Bill 215 is making waves as it seeks to offer a helping hand to small businesses struggling due to road construction. The bill is getting a closer look at the Florida House, aiming to provide financial relief through grants or low-interest loans to small business owners who have seen their revenue dip because of disruptive roadwork.

Many business owners, like Tonya Flores, who runs the 98 Treasures retail shop, have reported that their sales have taken a serious hit. Customers have been complaining, as the construction has made access to her store pretty difficult. When customers pass by, many find it challenging to return to the shop, which is impacting foot traffic in a big way. The concern from business owners like Flores is that the ongoing construction could change the way customers view their store altogether.

State Representative Anna Eskamani is behind the bill and is pitching for the idea of offering compensation up to $25,000 in grants or $100,000 in low-interest loans. This initiative aims not only to alleviate immediate financial strain but also to ensure that small businesses can bounce back once the construction dust settles.

On the flip side, there are voices in the Florida House, like State Representative Alex Andrade, who are wary of the bill. There are concerns around potential fraud when it comes to proving financial losses linked to the bill. It’s a complex issue that will require thorough reviews and committee approvals before any vote can take place.

A Different Kind of Trouble: Gulf Breeze Man Loses Life Savings

Gulf Breeze is facing a heartbreaking situation after losing his life savings due to a risky investment scheme recommended by a financial advisor. This unfortunate tale unfolds with claims presented by attorney Michael Bixby, who alleges that the financial advisor advised investing in a failing company, Ebix, which wound up filing for bankruptcy in 2023.

This individual reportedly lost over $100,000, a sum he saved diligently throughout his career as a mechanic. The advisor made promises of growth and reassured him about the safety of the investment, but things took a steep dive instead. Adding fuel to the fire, it’s claimed that the advisor has a history of making risky recommendations that have negatively affected numerous clients in the Pensacola area.

The serious allegation against the advisor, Chris Jacobi of Ameriprise, is also tied to a pattern of insufficient supervision by Ameriprise itself. Reports suggest that the firm ignored several red flags regarding Jacobi’s advice and allowed the use of misleading “CYA Paperwork,” which purported to inform clients about investment risks. This has raised eyebrows about the accountability of financial institutions when it comes to safeguarding their clients’ hard-earned money.

What’s more, Bixby has indicated that he represents another client who suffered similar losses under Jacobi’s advisement and is preparing to file a claim on her behalf as well. With five disclosures or disputes against him in his lengthy career, it’s a shocking twist that this financial advisor’s legacy might be tainted by dubious investment choices. One of these disputes even involves a claim seeking $250,000 for recommending an unsuitable investment.