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.
Florida First Capital is the top Small Business Administration (SBA) lender in the 43-county SBA North Florida District for FY 2010, according to industry information released recently by the SBA.
During the fiscal year that ended Sept. 30, 2010, SBA 504 and 7(a) lenders in the North Florida District produced combined loan projects totaling over $254 million.
Of that amount Florida First Capital produced nearly 20% of the combined project dollars with loans totaling $49,307,000, and it accounted for almost 50% of the total project dollars for the 504 loan program alone.
Over the last decade Florida First Capital has held the top SBA lender spot in the Northern District in every year but one.
“Our staff works diligently to make the 504 loan product available to small businesses in all of the 43 counties in North Florida. It is their hard work that made this and previous achievements possible,” said Todd Kocourek, Florida First Capital president & CEO.
SBA 504 loans are paired with private-sector commercial loans to finance the acquisition of fixed assets, including the purchase, construction, expansion or renovation of commercial property and/or the acquisition of industrial machinery and equipment.
Florida First Capital is a statewide non-profit SBA certified development company that promotes economic development and job creation throughout Florida. It works with the SBA and private-sector lenders to ensure that Florida small businesses have access to the affordable capital they need. Florida First Capital lends under the SBA 504 loan program as well as the State of Florida Recycling Loan Program and other small business assistance programs.
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.
