Unique Manufacturer Opts for Unique FFCFC 504 Loan

Diversified Products Manufacturing of Jacksonville originally gained fame in the `80s with its patent of the Patterson Scoop, an add-on wheel lift that allows a vehicle to be picked up by the front wheels and towed – a major innovation to the towing industry. Today, with the help of two FFCFC 504 Loans, the company is again expanding its innovative vehicle product lines.

“Diversified chose a 20-year, fixed-rate FFCFC 504 Loan to purchase a 20,000 square-foot office warehouse building and then selected a separate 10-year, fixed-rate FFCFC 504 Loan to purchase a piece of specialized heavy-duty, computer-controlled manufacturing equipment,” said Kristen Tackett, FFCFC Vice President and Loan Officer.

“This concept is important, especially to manufacturers,” Tackett continued, “because not everyone realizes that our 504 Loan Program can be used not only to finance the purchase of real property but to finance the purchase of long-life equipment as well as.”

Daniel R. Beilfuss, President and Owner of Diversified Products Manufacturing, said FFCFC’s 504 Loan Program was a key factor in his company’s expansion plans. “Having only 10% cash down requirements on each purchase made it possible for us to expand now and the fixed rates and fixed terms on the FFCFC 40% portion will make it possible to improve our cash flow from year to year.”

Founded in 1963, Diversified Products Manufacturing was originally a general machine shop and manufacturer of small trailer parts. Today, the company designs and manufactures a broad line of push bumpers, self-loading dollies, tow slings, wheel lifts, car carrier ramps and other related accessories used on towing and emergency vehicles.