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 SBA 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 SBA 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 SBA 504 loan. More information on the 7(a) program can be found at www.sba.gov.
| RECENT SBA 504 LOAN NEWS |
Florida First Capital Achieves Top SBA Lender Position in North Florida
Florida First Capital Finance Corporation is the top Small Business Administration lender by dollar volume for FY 2011 in the 43-county SBA North Florida District, which stretches from Orlando to Jacksonville and west through the Florida Panhandle.
SBA Launches Major Changes to 504 Debt Refinancing Program
Effective immediately, 504 debt refinancing loans can be structured the same as regular 504 loans as long as the total debt being refinanced is no more than 90% loan-to-value. Until now, the third party lender loan had to be 50% of the appraised value of the project property being refinanced.
Did You Know? Larger SBA 504 Loans for Small Businesses
Small businesses can now take advantage of larger SBA 504 loan limits and borrowers who already have loans with the Small Business Administration can also return for additional funding thanks to program changes under the Small Business Jobs Act of 2010.
504 Loan Helps Family Surfing Business Build on a Legacy
Innerlight Surf & Skate is known as “The Surfer’s Surf Shop” along the North Florida and Alabama Gulf Coast. Established in 1969, Innerlight operates four successful stores in the region. The company’s newest location at the historic Pensacola Beach Marina is its most ambitious expansion yet.