FFC Loan Approvals Up 58%

Through the first nine months of the fiscal year, Florida First Capital loan approvals are up 58%, and we remain the 12th most active Certified Development Company in the country.

The 504 loan program continues to grow nationwide, according to recent loan approval statistics. During the first nine months of the 2003 federal fiscal year, SBA approved 4,753 loans totaling more than $2.1 billion, marking a 21.9% rise in the number of loans and a 26.1% jump in the amount loaned from a year earlier. The average loan size is also up 3.4%.

We approved 90 loans totaling more than $31.8 million, a 58% rise in approvals and a 40% rise in amount loaned. We remain the 12th largest CDC in the country, up from 16th at the end of fiscal year 2002.