May 2018
Borrower Profile
SBA 504 Loan Helps Retired NFL Player Tackle Insurance Market

A few years removed from his National Football League (NFL) career, Doug Johnson found himself contemplating the next phase of his life.  He had been offered coaching jobs, but turned them down due to the strain he felt it would place on his family.

SBA 504 Loan Helps Retired NFL Player Doug Johnson of Gainesville Tackle Insurance MarketJohnson looked for something stable to become a part of and that’s when he met Faye Fletcher-Johnson.  Fletcher-Johnson founded Johnson & Fletcher Insurance in Gainesville in 1976.  The company provides a wide range of insurance products, including commercial, personal, life, health, long-term care and disability.

The two were introduced by a mutual friend and hit it off instantly, so in July of 2009 Johnson joined the team.  Johnson later acquired the company and took over management in 2013.

As part of a winning strategy, Johnson realized that the business needed room to expand.  The expansion would take the firm from having about 2,000 square feet to over 5,000 square feet.

Part of that strategy included finding the best financing option available for the purchase of the property.  He worked with the professional team at Florida First Capital and utilized the Small Business Administration (SBA) 504 Loan Program for the completion of the $715,000 transaction.

“Having been an integral part of a team, Doug realized that working with Florida First Capital and the SBA 504 Loan Program would be a winning combination,” said Kristen Tackett, Florida First Capital Vice President and Business Development Officer for Northeast Florida.  “The 504 program allows for the preservation of vital working capital through a low down payment, long amortization term and below-market fixed interest rate, resulting in a strong combination for the small business owner that’s hard to beat.”

The SBA 504 Loan Program 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 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.

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.