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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.
Oct 2020
Florida First Capital Finance Corporation is pleased to announce the company has accomplished several significant achievements this fiscal year. Thanks to all of our excellent small business borrowers and commercial lending partners, not only did we remain Florida’s # 1 Small Business Administration (SBA) lender for the 5th year in a row, but we are now the #1 SBA 504 lender in the nation!
According to the SBA, Florida First Capital – a multi-state nonprofit Certified Development Company (CDC) operating in Florida and Alabama and South Georgia dba First Capital Finance – produced the following results for FY 2020, which ran from Oct. 1, 2019, through Sept. 30, 2020:
Additionally, we have been actively expanding our professional staff of loan officers and processing, credit underwriting, closing and servicing personnel to handle our production growth and expansion outside of Florida, and to ensure we continue to provide excellent customer service and strong bottom line results for our lending partners and customers.
“Our continued success is the direct result of the unwavering commitment and hard work of our entire professional lending team and volunteer Board of Directors,” said Todd Kocourek, President and CEO of Florida First Capital/First Capital Finance. “Helping small businesses grow their local economies and create jobs is reward enough, but we appreciate the recognition!”
At Florida First Capital, helping small business owners achieve their dreams is personal. It’s been our mission for over 37 years and growing.
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.