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Florida First Capital/First Capital Finance Celebrates the Spirit of Entrepreneurship

Jul 2021

During July and throughout the year, Florida First Capital/First Capital Finance celebrates small business owners and the Small Business Administration (SBA) 504 Loan Program that helped them achieve the American dream.

Here’s the scoop on family-run Kelly's Homemade Ice Cream in Orlando, Florida.

When Kelly Seidl was in nursing school, she took a part-time job at an ice cream shop to help pay for school. She never forgot how happy the customers were when she handed them a yummy cone – or how happy it made her to serve it up!

She and her husband, Scott, began making and selling ice cream at a local farmer's market. Before long, they took their treats to the streets in a cool pink-and-white ice cream truck that became a hit at local markets.

With a loyal fan base, in 2015 the Seidls opened their first Kelly’s Homemade Ice Cream shop. Two years later, with the help of an SBA 504 Loan through Florida First Capital Vice President and Business Development Officer for Central Florida, John Hanrahan, the Seidls purchased the land and building they’d been leasing.

“The SBA 504 Loan Program was created to help small business owners purchase commercial property and get off the rent rollercoaster,” said Hanrahan. “With as little as 10% down, below-market fixed interest rates and terms up to 25 years, the 504 loan just makes good business sense.”

Since opening their first shop, Kelly’s has expanded to 2 additional locations in central Florida and continues to bring a smile to central Florida residents and visitors.

You’ll find a slice of Americana (and Decadent Cheesecake) at Gadsden Variety in historic downtown Gadsden, Alabama.

In September 2020, Blake and Heather New took a leap of faith and re-opened the landmark Gadsden Variety when the previous owners retired. The News soon realized they purchased more than just a building. The space holds a special place in the memories of Gadsden area residents.

Dating back to 1885, the building has had a number of tenants through the years, including the essential small town five & dime and lunch counter. “I remember walking around, with the floor creaking, as a kid,” said owner Blake New.

Having worked in restaurants after college, New always wanted to have his own. When the building was listed for sale, an SBA 504 Loan through First Capital Finance Business Development Officer for South Alabama, Angie Sweatman, helped make the dream a reality.

“In addition to the famously low down payment, below-market fixed interest rates and 25-year terms that make the 504 loan ideal for borrowers, the uniquely distributed credit structure means the partnering lending institution mitigates its loan-to-value exposure. It’s a win-win,” said Sweatman.

The News are “keeping it old school” and have continued the tradition of selling everything from antiques and home goods to their famous live ferns. And, as it has for years, you can still find deli favorites and homemade cheesecakes at the popular Gadsden Variety Café within the store.

With the previous owners retiring, an anchor store was disappearing from the historic downtown landscape. By picking up the torch, the News are doing what small business owners do best – helping their community thrive.

Florida First Capital salutes Kelly’s Homemade Ice Cream, Gadsden Variety, and the more than 30 million other small business owners across the nation, who help diversify and sustain our neighborhoods, towns and cities. Show your support for small businesses - #shoplocal and #eatlocal.

Visit Kelly’s Homemade Ice Cream at kellyshomemadeicecream.com.

Visit Gadsden Variety at facebook.com/GadsdenVariety and facebook.com/gadsdenvarietycafe.

The SBA 504 Loan Program provides up to 90% financing at below-market, fixed interest rates and long amortization terms up to 25 years for the purchase of major fixed assets, such as owner-occupied commercial real estate, renovations, new construction, energy efficient “green” initiatives and/or fixed heavy duty machinery and equipment, as well as the refinance of commercial mortgage and other business debt with or without a cash-out option.

504 loans are paired with private-sector commercial loans and provide up to $5 million of aggregate SBA eligibility on standard 504 projects; up to $5.5 million per 504 energy efficient green project not exceed $16.5 million in the aggregate; and up to $5.5 million per eligible small manufacturing project with no limit on total SBA dollars available. These are SBA 2nd mortgage loan portions only; there is no limit on overall project dollar size.

For more information about SBA 504 loans in Alabama, Florida or Georgia, contact a Florida First Capital Loan Officer or email us at info@ffcfc.com. Phone: 850.681.3601 or toll-free at 888.320.5504.