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 pleased to announce that Fernando Pereira, president of Pegasus Transportation in Orlando, has been named the Small Business Person of the Year by the U.S. Small Business Administration's (SBA) North Florida District.
Pegasus Transportation provides group motor coach transportation for any event or occasion in Florida. Mr. Pereira started Pegasus Transportation in 1994 with a 100 square-foot office, one 15-passenger van and one driver. Today, Pegasus has a fleet of late-model European motor coaches and two Florida offices-- one in Orlando and one in Miami.
Florida First Capital is honored to have worked with Mr. Pereira and Pegasus Transportation to provide SBA 504 Loan Program financing for its growing operations. Mr. Pereira secured two 504 loans through Florida First Capital: one for the purchase of an existing 6,000 square-foot building on two acres of land and a second to construct an additional 5,400 square-feet of office and warehouse space.
Despite the great success today of Pegasus Transportation, Mr. Pereira has faced many challenges as a business owner and has overcome them with the SBA's assistance beyond the 504 Loan Program. First, in 2001, Pegasus Transportation was dramatically affected by the 9/11 tragedy. The travel industry came to a halt. Mr. Pereira sough assistance from the Small Business Development Center (SBDC) at the University of Central Florida, which nominated him for the SBA award.
The SBDC assisted Mr. Pereira in applying for a SBA Economic Injury Disaster Loan to help bridge the gap created by the slump in travel after 9/11. Mr. Pereira sought SBA assistance again in 2004, after Hurricane Charlie struck the Orlando area, once again bringing transportation services to a halt. Mr. Pereira was approved for a second SBA disaster loan.
Mr. Pereira will be honored along with other winners at the 19th Annual Small Business Week & Lender Awards Celebration on May 25 in Jacksonville.
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.
