SBA 504 Commercial Real Estate Loans

Your Small Business Has Big Plans. We Offer Smarter Financing to Help You Achieve Your Expansion Goals.

You specialize in small business, we specialize in small business financing. With almost 40 years’ experience in the SBA 504 Loan industry, Florida First Capital/First Capital Finance understands the challenges unique to small businesses. We’re not only easy to work with, we’re extremely knowledgeable and well-equipped to help you achieve your goals and stay pointed in the right direction.

Whether you are expanding, remodeling, renovating or converting, with Florida First Capital/First Capital Finance as your trusted small business lender you’ll spend less time worrying about your loan and more time doing what you do best – running your small business, creating jobs and supporting the economy.

504 Overview & Eligibility

Benefits of a 504 Commercial Real Estate Loan

Up to 90% financing at below-market, fixed interest rates – No future interest rate fluctuations.
Low down payment conserves valuable working capital.
10-, 20- and 25-year amortization terms available.
Associated fees and soft costs can be financed in the loan minimizing out-of-pocket costs.
Loan amounts: up to $5 million of aggregate SBA eligibility on standard and public policy 504 projects; up to $5.5 million per 504 project involving small manufacturers with no limit on the total SBA dollars available; and up to $5.5 million per 504 energy efficient green project not exceed $16.5 million in the aggregate. (NOTE: SBA loan amounts only; there is no limit on overall project size.)
Total projects from $125,000 to $20 million+.

Eligible Uses of Proceeds

Acquisition of land and construction of new building.
Acquisition of land and existing building.
Remodel, convert, expand or renovate existing building.
Leasehold improvements.
Purchase of improvements, including grading, street improvements, utilities, parking lots and landscaping.
Energy efficient green projects (reduce energy consumption by at least 10% or generate at least 10% renewable energy).
Purchase of office furniture, fixtures and equipment.
Contingency reserve, not to exceed 10% of the construction costs.
Associated fees and soft costs (architectural and engineering fees, appraisals, environmental investigations, closing costs, etc.).
Repayment of interim points, fees and interests.

Owner Occupancy Requirements

Existing Buildings – Business must occupy at least 51% of the rentable property within one year of ownership; the busines may sublease up to 49% of the space.
New Construction – The applicant must occupy 60% of the rentable property, may permanently lease to a third party up to 20% and temporarily lease an additional 20% with the intention of using some of the additional 20% within 3 years and all of it within 10 years.
The applicant may form a real estate holding company that leases 100% to the operating business, which then subleases surplus space (up to 49%).

NOTE: 504 loan proceeds may not be used to finance working capital. Please see the Rebuild Florida Business Loan Fund.