April 2018
Commercial Lending
SBA Mid-Year Performance Report: Florida First Capital Maintains Lead in Statewide Loan Production

Halfway through the Small Business Administration’s (SBA) 2018 fiscal year, Florida First Capital continued its lead in SBA 504 loan production approved dollar totals in Florida.  The company earned Florida’s top lender spot among all SBA lenders statewide (504 and 7(a) programs) for FY 2016 and 2017. 

SBA 504 Loan ProgramAccording to the SBA, as of March 31, Florida First Capital produced 88 SBA 504 loan projects resulting in $78,496,000 of approved 504 dollars and $176,616,000 in total project financing.

SBA 504 Loans are provided in partnership between nonprofit, SBA regulated Certified Development Companies, like Florida First Capital, and commercial lenders.  Working with more than 200 participating commercial lending partners across the state, Florida First Capital provides up to 90% financing at below-market, fixed interest rates and amortization terms now up to 25 years for the purchase of major fixed assets, such as owner-occupied commercial real estate, energy efficient “green” initiatives and/or heavy duty machinery and equipment.

Typically, a commercial lending partner provides financing for 50% of the 504 loan and takes a first lien position; Florida First Capital/SBA provides 40% of the project financing and takes a second lien position; and the borrower provides a down payment of just 10% in most cases.

504 loans 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 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 800.504.LOAN.