May 2018
Commercial Lending
Florida First Capital Recognized as Top Producer at SBA Annual Awards Event

The Small Business Administration (SBA) acknowledged Florida First Capital Finance Corporation as the FY 2017 North Florida District’s top SBA 504 lender for total number of loans and total dollar volume during its 26th Annual Small Business Week Celebration held recently in Jacksonville.

SBA acknowledges Florida First Capital as the FY 17 North Florida District’s top 504 lender for total number of loans and total dollar volumeOf the 155 SBA 504 loans totaling $123,214,000 produced in the district for FY 2017, Florida First Capital, a nonprofit Certified Development Company (CDC), generated 110 of those loans totaling $87,744,000.

The three other CDCs in the district produced a combined total of 45 SBA 504 loans worth $35,470,000.

When comparing all lenders (504 and 7(a) programs) by dollar volume, Florida First Capital led the way with $87,744,000, followed by Live Oak Banking Company with $38,551,000, Wells Fargo with $33,506,200, SunTrust with $29,339,200 and TD Bank with $17,925,200.

Florida First Capital’s performance accounted for over 71% of the 504 dollar total and almost 15% of all SBA lending (504 and 7(a) programs combined) in the North Florida District, which covers 43 counties and stretches from Orlando to Jacksonville and west through the Florida Panhandle.

Overall, lenders in the North Florida District produced 1,148 SBA loans valued at over $600 million in FY 2017.  This amount reflects an overall increase of $30 Million from FY 2016.  The district also helped to create 5,719 new jobs and retain 7,130 existing jobs through SBA guaranteed lending.

Florida First Capital wishes to thank its 504 commercial lending partners as well as congratulate its North Florida District sales team: Kristen Tackett, VP & Loan Officer, Northeast Florida Region; Stacey Green, Loan Officer, Northwest & Florida Panhandle Region; and John Hanrahan, VP & Loan Officer, Central Florida Region.

Florida First Capital was also Florida’s top lender spot among all SBA lenders statewide (504 and 7(a) programs) for FY 2016 and 2017.

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  Phone: 850.681.3601 or toll-free at 800.504.LOAN.