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.
Pictured (Left to Right): Lynn McDaniel, Florida First Capital Senior Vice President & Loan Administration Manager; Lisa Mergel, owner of Kanvas Day Spa & Boutique; and Todd Kocourek, Florida First Capital President & CEO
Florida First Capital is pleased to announce Lisa Mergel, owner of Kanvas Day Spa & Boutique in Tallahassee, FL, is the recipient of the Florida First Capital/First Capital Finance 2021 Entrepreneurship Award.
Lisa established Kanvas in 2007 and by 2012 needed a larger space for her growing business. She worked with Florida First Capital and the Small Business Administration (SBA) 504 Loan Program to secure financing for the purchase and renovation of a 7,000 square-foot building to accommodate their expanding product and service offerings.
In addition to being a successful small business owner, Lisa is an industry advocate and board member of the Florida Retail Federation. In 2018, she was honored as "America's Retail Champion of the Year" by the National Retail Federation for helping advance critical policy initiatives for the retail sector at both the state and federal levels. Additionally, Lisa was named Florida Retailer of the Year in 2016.
“We are delighted to recognize Lisa Mergel with this award. Her dynamic impact on the community through job creation and economic growth exemplify the mission of Florida First Capital,” said Todd Kocourek, Florida First Capital President & CEO. “Lisa’s effort to increase educational standards in her industry is further example of her entrepreneurial integrity and leadership.”
Kanvas employs 10 staff members and offers an internship program for Florida State University students studying retail management and entrepreneurship. Recognizing the importance of giving back to the community, Kanvas also actively sponsors a number of local events and programs.
“I love what I do and I strive to make it show every day,” said Lisa. “I have always felt it’s important to give back to the community that supports you,” she continued. “Retail is changing and these days it is even more important to shop small and local!”
Florida First Capital congratulates Lisa Mergel and the entire Kanvas team on their success. Well done!
Visit Kanvas online at www.kanvasbeauty.com.
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.
