{meta_title}

Celebrating Black-Owned Businesses and the SBA 504 Loan Helping to Shape and Define Communities

Aug 2021

August is National Black Business Month and Florida First Capital/First Capital Finance is celebrating the Black-owned small businesses that help build dynamic and diverse communities.

"As we celebrate Black Business Month this year, it is important for us to engage in a meaningful conversation focusing on strategies geared toward strengthening the resiliency of Black businesses," said Florida SBDC at FAMU Director and Florida First Capital Board Member, Keith Bowers.

"COVID-19 revealed the fragility of Black-owned businesses, as 41% closed permanently in the wake of the pandemic. Let’s use the spotlight of Black Business Month to examine how best to marshal resources that support Black businesses in building capacity, enhancing operating infrastructure and leveraging technology," continued Bowers.

Meet Frankie Telfort and Rashad Provitt, two Black business owners with the perseverance to succeed and inspire others to do the same.

Old Bull Athletics -- Frantz “Frankie” Telfort

Frantz “Frankie” Telfort is the owner and founder of Old Bull Athletics in Coral Gables, Florida. Originally from Miami, his passion for athletics and fitness started when he was a star football player for Gulliver Preparatory Academy.

Leaving high school, Telfort was the #5 player in the country at his position and naturally had offers to play for top Division I universities. Ultimately, he accepted a scholarship from the University of Southern California (USC), playing under Coach Pete Carroll -- currently the head coach of the Seattle Seahawks.

Telfort anticipated a stellar football career. Unfortunately, in his freshman year at USC, he was diagnosed with hypertrophic cardiomyopathy -- a heart condition which forced him to quit the sport he loved and abandon his dreams of playing in the NFL.

Although unable to play football, USC honored Telfort’s scholarship and he earned a Bachelor of Science in kinesiology. Upon graduation, he accepted an assistant coach position in the NFL. His passion for fitness motivated him to become a certified personal trainer.

After training at a high-end gym in Miami for a number of years, Telfort developed a strong clientele and began the process of starting his own business -- Old Bull Athletics. With the help of an SBA 504 loan through Florida First Capital Vice President & BDO, Alejandro Buitrago, he purchased a 2,000 square-foot facility and created an elite personal training and physical therapy program.

Coming full circle, Telfort is also the defensive coordinator for his high school alma mater, Gulliver Prep. He takes pride in mentoring student-athletes and preparing them for college success. Telfort says, “Whatever you believe you can or can’t do, you are undoubtedly correct."

Provitt Prints -- Rashad Provitt

Meet Rashad Provitt, owner and founder of Provitt Prints, LLC in Montgomery, Alabama. His passion for fashion design and mentoring youth inspired Provitt to open the T-shirt screen printing company in 2017.

Following high school, Provitt played basketball at Alabama State University on a full scholarship and aspired to play in the NBA. When injuries prevented him from pursuing his dream, he had to refocus his life.

In 2015, Provitt founded COLO, Choose One or Lose One, a non-profit organization with a mission to mentor and motivate youth in the Montgomery area. He designed a custom T-shirt line for COLO and placed the order with a local screen printer. Provitt took a keen interest in the printing process and soon began an apprenticeship at the shop.

With a tremendous response to COLO and the shirt design, Provitt created a plan to start his own screen printing business. He took a leap of faith, purchased a manual screen print setup and leased a 1,000 square-foot building. For the next 4 years, Provitt’s reputation for quality, along with his business, would grow exponentially.

In 2021, with the help of an SBA 504 loan through First Capital Finance BDO, Angie Sweatman, Provitt purchased a 10,000 square-foot facility. Additionally, the loan provided for automated screen printing equipment that has increased his production by 200%.

Small businesses not only create jobs and impact local economies, they help shape and define our communities. Florida First Capital/First Capital Finance celebrates Old Bull Athletics, Provitt Prints and the more than 2.5 million Black-owned businesses nationwide that help grow our country’s economic success.

Visit Old Bull Athletics at oldbullathletics.com. For more information on Provitt Prints, go to provitt-prints.business.site.

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, renovations, new construction, energy efficient “green” initiatives and/or fixed heavy duty machinery and equipment, as well as the refinance of commercial mortgage and other business debt with or without a cash-out option.

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 Alabama, Florida or Georgia, contact a Florida First Capital Loan Officer or email us at info@ffcfc.com. Phone: 850.681.3601 or toll-free at 888.320.5504.