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.
As of halfway through the Small Business Administration's (SBA) 2016 fiscal year, Florida First Capital led the state of Florida among all Certified Development Companies in SBA 504 loan production, both in number of loans and dollar totals.
According to the SBA, as of March 31, Florida First Capital produced 100 SBA 504 loan projects resulting in $73,739,000 of approved 504 dollars and $165,912,750 in total project financing. The SBA also ranked the company #5 nationally among more than 280 Certified Development Companies.
“This excellent result continues a trend for us, and serves as validation of the good efforts all of us here make to serve the small business community of Florida,” said Todd Kocourek, President and CEO of Florida First Capital.
SBA 504 Loans are provided in partnership between nonprofit, SBA regulated Certified Development Companies, like Florida First Capital, and commercial lenders. Working with more than 200 participating commercial lending partners across the state, Florida First Capital provides up to 90% financing at below-market, fixed interest rates and long amortization terms for the purchase of major fixed assets, such as owner-occupied commercial real estate, energy efficient “green” initiatives and/or heavy duty machinery and equipment.
Typically, a commercial lending partner provides financing for 50% of the 504 loan and takes a first lien position; Florida First Capital/SBA provides 40% of the project financing and takes a second lien position; and the borrower provides a down payment of just 10% in most cases.
504 loans provide up to $5 million for standard and public policy projects (aggregate limit) and up to $5.5 million per green initiative and small manufacturer projects. These are SBA 2nd mortgage loan portions only; there is no limit on overall project dollar size.
SBA 504 Commercial Real Estate Loans, Green Loans, Machinery & Equipment Loans
For more than 30 years, Florida First Capital has worked hard to provide the state's small business owners and entrepreneurs with the finest fixed asset financing available at the best terms and lowest costs possible. Providing real dollars to support Florida's growing and expanding small businesses that are creating jobs and strengthening the economy is our bottom line.
We are driven by providing excellent customer service and have assembled one of the best and most experienced small business lending teams of professional loan officers and underwriting, closing and servicing professionals the 504 Certified Development Company industry has to offer. We also offer a level of convenience unequaled by our competitors with full service offices located statewide from Pensacola to Miami.
For more information about SBA 504 loans in Florida,contact a Florida First Capital Loan Officeror email us atinfo@ffcfc.com. Phone: 850.681.3601 or toll-free at 888.320.5504.
