June 2019
Commercial Lending
SBA 8-Month Performance Report: Florida First Capital is Ranked #1 Nationally

According to the Small Business Administration (SBA), as of May 31, 2019, Florida First Capital has not only maintained its lead in SBA 504 loan production for approved projects and dollar totals in Florida, but is now ranked #1 nationally among all active Certified Development Companies.

Florida First Capital is Ranked #1 Nationally Among All Active Certified Development CompaniesFlorida First Capital has produced 182 SBA 504 loan projects resulting in $160,100,000 of approved 504 dollars and $360,225,000 in total project financing thus far this fiscal year, which ends Sept. 30, according to the SBA.

In fact, those numbers outpace this time last year with a 43% gain in loan projects and a 30% gain in both approved 504 dollars and 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-Prime, fixed interest rates and 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 fixed 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 Alabama, Florida or South Georgia, contact a Florida First Capital Loan Officer or email us at info@FloridaFirst.com.  Phone: 850.681.3601 or toll-free at 800.504.LOAN.