August 2018
Commercial Lending
SBA Nine-Month Report: Florida First Capital Retains Loan Production Lead

At the nine-month mark of the Small Business Administration’s (SBA) 2018 fiscal year, Florida First Capital continued to uphold its lead in SBA 504 loan production statewide in Florida, both in dollar totals and number of loans.

SBA Report: Florida First Capital Retains Loan Production LeadAccording to the SBA, as of June 30 Florida First Capital produced 151 SBA 504 loan projects resulting in $147,569,000 of approved 504 dollars and $332,030,250 in total project financing.

Florida First Capital is also ranked #4 nationally among all Certified Development Companies.  Additionally, the company earned Florida’s top lender spot among all SBA lenders statewide (504 and 7(a) programs) for both FY 2016 and FY 2017.

SBA 504 Loans are provided in partnership between nonprofit, SBA regulated Certified Development Companies, like Florida First Capital, and commercial lenders.  The 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, 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 than three decades, Florida First Capital has worked diligently to provide available and affordable financing to Florida’s growing and expanding small businesses.  We are driven by providing excellent customer service and have assembled one of the best and most experienced teams of professional loan officers and underwriting, closing and servicing professionals the SBA 504 loan industry has to offer.

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