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.
| OIL DISASTER LOAN PROGRAM |
Bridge Loans Provide Immediate Financial Help to Stressed Small Businesses
Florida small business owners who have lost income due to the Deepwater Horizon oil spill and are struggling with the BP claims and payment system can now apply for an expedited interest-free, short-term loan through the Florida Small Business Emergency Bridge Loan Program.
| RECENT 504 NEWS |
July Edges Out June for Lowest 504 Interest Rate of the Year
The 20-year fixed interest rate on Small Business Administration 504 loans for the purchase of commercial real estate fell to 5.21% for July, edging out June as the lowest rate for the loan program so far this year.
FFCFC 504 Loan Unites 25 Medical Practitioners Under One Roof
What does it take to bring together 25 similar small businesses under one roof? Apparently, a well structured 504 loan put together by a certified development company willing to undertake the complexities that a myriad of borrowers/guarantors present.