FFCFC Has House of Floors of Tampa Covered

House of Floors of Tampa opened its doors for business in June 1993 offering a full range of floor coverings to the multi-family housing industry via the internet. With help from an FFCFC 504 loan in 2006, House of Floors of Tampa now handles and delivers orders anywhere in the Southeast.

“Proceeds from the financing of this $1,365,000 project were used to purchase and construct a new facility for this flooring company,” said Claire A. Huse, Senior Vice President of FFCFC and the credit underwriter for this project. “Without the savings inherent in the 504 project structure (10% cash injection) and the long-term fixed rate on its second mortgage position, House of Floors would not have been able to expand and own its own real property.”

Robin and Michael Brodsky, owners of House of Floors of Tampa said, “We went to FFCFC because of their reputation for the quick turnaround between applications. We’re very happy with the sizeable amount of cash and working capital savings our company experienced as a result of this financing. A key to choosing a 504 over traditional financing was the ability to include closing costs and other soft costs, such as architectural, appraisal and environmental study fees, into our loan.”

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