SBA 504 Loan Interest Rates
Official monthly SBA 504 effective interest rate tables can be found at Eagle Compliance LLC. 25- and 20-year term loans fund every month; 10-year term loans fund every other month. Effective interest rates are inclusive of servicing fees, which are subject to credit risk of the applicant.
After four successful decades in business, Peter Amante, owner of Duralite Radiator, Inc. in Jacksonville, understands the value of a good product at a fair price backed by excellent customer service. It's what he's built his company on.
From radiator repairs and national parts fulfillment to metal fabrication and general automotive repairs, Duralite Radiator is known as the hometown company you can count on for any type of car, light truck, semi truck or construction equipment service.
And like many small businesses, the busy repair company had outgrown its current location and needed to expand. Luckily two neighboring buildings were vacant and available and Amante was a motivated buyer.
Amante looked at conventional financing but was unwilling to put down 20-30%. He also didn't want a variable interest rate. He needed affordable and stable loan terms that would help keep money in his business where it belongs.
That's when he turned to the 504 loan program and Florida First Capital.
504 financing is specifically designed for expanding business owners like Amante looking to purchase owner-occupied commercial real estate. The loan program provides for the lowest out-of-pocket expenses possible with a fixed interest rate and a long amortization term.
“The huge benefit to Mr. Amante was the very low 10% down payment and also the ability to roll closing and soft costs into the loan which allowed him to keep more of his working capital in the business,” said Kristen Tackett, Florida First Capital loan officer and vice president for Northeast Florida.
The additional adjacent locations will enable Duralite Radiator to double its service and repair space and also provide much needed room for its parts fulfillment business.
Duralite Radiator's customers are loyal because Amante and his expert staff are there when they need them most; others are loyal because Duralite does the job right the first time and uses quality materials and parts that last.
This level of service and commitment is also reflected in every 504 loan Florida First Capital makes in Florida. You can count on the experts at FFCFC to ensure a smooth transaction with peace of mind that your borrower is receiving the best commercial loan product on the market.
For more information about 504 loans in Florida, contact Florida First Capital by visiting www.ffcfc.com, emailing us at insider@ffcfc.com or calling 888.320.5504.
