January 2018
Borrower Profile
SBA 504 Loan Helps Train Canines to Make Lives Better

Jose Peruyero trains dogs to uncover everything from drugs to cancer by smell.  This highly specialized endeavor is the lifelong passion of this Central Florida entrepreneur.

J&K Canine Academy and Scentworx Gainesville FloridaAt J&K Canine Academy in Gainesville, their mission is to provide the most effective dog training program in the industry using a compassionate and holistic approach which easily transfers to any owner/handler or multiple owners/handlers.

Scentworx is the brainchild of J&K Canine Academy.  Their mission is to provide the most effective scent detection K-9s in the industry.  With their scientifically backed research and development, they are able to assess any treat, disease, bacteria or pest infestation affecting an industry for possible use and deployment of scent detection canines.  As the most progressive leaders in the scent detection world, they are constantly working on new projects for any industry where there is a need for a more effective and precise detection tool.

When it came time to expand their operations, Peruyero secured a contract on a 9.2 acre parcel of commercial property near the Gainesville Airport to construct a specialized 6,000 square-foot facility.  In order to secure the $688,000 needed to fund the project, Peruyero worked Florida First Capital and the Small Business Administration (SBA) 504 Loan Program.

“Using the 504 Loan Program to fund a ground-up construction project is a win-win for both the borrower and the lender,” said Kristen Tackett, Florida First Capital Vice President and Business Development Officer for Northeast Florida.  “The borrower gets a long-term, below-market fixed interest rate with predictable mortgage payments.  And, the ability to provide permanent take-out financing makes the project a solid one for the bank.”

The 504 Loan Program provides a permanent source of funding for construction projects once the certificate of occupancy has been issued.  This allows the lending institution to mitigate its loan-to-value exposure for a project, thus helping to balance its overall loan portfolio.

The SBA 504 Loan Program provides up to 90% financing at below-market, fixed interest rates and long amortization terms for the purchase of major fixed assets, such as owner-occupied commercial real estate and/or heavy duty machinery and equipment.

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.

Visit J&K Canine Academy and Scentworx online at www.pepedogs.com.

For more information about SBA 504 loans in Florida, South Alabama or South 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.