FFC Enters Top 10

Florida First Capital last month entered the ranks of the Top Ten Certified Development Companies in the United States. As of 8/31/03, FFCFC had approved 119 loans during this fiscal year, which translates to a 59% increase over the same period last year. FFCFC is now the tenth most active CDC in the country.

The growth in our loan volume also exceeded that of the national 504 industry which continues to grow. Nationally, 504 loan approvals are up 23% and loan volume is up 25.8%. We approved 119 loans on projects totaling more than $119 million, a 59% rise in approvals and a 44% rise in amount loaned. FFCFC is the 10th largest CDC in the country, up from 16th at the end of fiscal year 2002. More than 260 CDCs operate throughout the nation.