Florida First Capital Finance Corporation (FFCFC) is the state’s largest non-profit certified development company that promotes economic development and job creation throughout Florida.
FFCFC carries out its work through the administration of various government and private small business capital access programs. Most significant of these is the U.S. Small Business Administration (SBA) 504 Loan Program.
The 504 loan program in Florida specifically exists to help small to mid-sized business owners acquire commercial property without the financial hassles and high cash outlay requirements often associated with conventional loans.
The 504 program does not provide financing for working capital, inventory and such; however, its sister program, the 7(a) loan program, does and can be packaged with a 504 loan. More information on the 7(a) program can be found at www.sba.gov.
| RECENT 504 NEWS |
Fee Relief Extended Through February for 504 Loan Program
The elimination of most up-front 504 program fees will continue through February, thanks to a bill recently passed by Congress and quickly signed by President Obama.
How Long Will 504 Rates Remain at Historical Lows?
Over the last year, 504 borrowers have enjoyed the lowest effective interest rates in the program’s 24-year history. So the question begs: how long will these low rates last?