November 2018
Commercial Lending
3-Peat: Florida First Capital Retains Top Lender Spot in Statewide SBA Loan Production

Florida First Capital earned the top lender position for Small Business Administration (SBA) loan production for FY 2018 among all SBA lenders in Florida for a third year in a row for approved loan projects.

2018 Top 10 SBA Lenders Statewide in FloridaAccording to the SBA, for FY 18 Florida First Capital produced 213 SBA 504 loan projects resulting in $201,223,000 of approved 504 dollars and $452,751,750 in total project financing.  In terms of Florida 504 deals, Florida First Capital accounted for 56% of the total SBA dollars loaned by 5 different active Certified Development Companies.

“Our continued success is the direct result of the steadfast commitment and hard work of our entire professional lending team and volunteer Board of Directors.  We also owe a huge thanks to our large network of commercial lending partners that consist of a growing number of prominent banks, credit unions and non-bank lenders,” said Todd Kocourek, President and CEO of Florida First Capital.

The SBA 504 Loan 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.

SBA 504 Loans are provided in partnership between CDCs like Florida First Capital and commercial lenders. 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 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.

In addition to posting another top year of SBA loan production, Florida First Capital continued its service as the state appointed fiscal administrator of the Florida Small Business Emergency Bridge Loan Program, a critical mission the company has performed on a pro bono basis since the program’s inception in 1992.

The Emergency Bridge Loan Program provides small business owners that sustain physical damage and/or economic injury as a result of a disaster with short-term, interest-free working capital loans to help expedite the critical reestablishment of business during the interim period following a tragedy and before other aid and insurance claims are processed.

After Hurricane Irma struck, Florida First Capital closed and serviced 887 disaster bridge loans totaling $34.7 million for small and citrus businesses across the state. A similar effort in response to Hurricane Michael is ongoing.

In good times and bad, Florida First Capital is committed to helping small business succeed and we do everything we can every day to make that happen.

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.  For more information about the Florida Small Business Emergency Bridge Loan Program, visit