504 Helps Advanced Surgery Center

According to recent loan data, a large and growing percentage of 504 borrowers are professional practices that realize owning their building to fix their business occupancy costs is a very savvy financial move.

Ricardo Estape, MD, of Miami is one such borrower. Dr. Estape recently decided the time was right to purchase three adjacent office-condo units his practice occupied as part of an advanced surgical center in operation since 2004. And he turned to the FFCFC 504 loan program to get the deal done.

“Although, Dr. Estape was a strong borrower, he wanted to be sure that he was obtaining the best financing terms possible. The 504 loan program proved to be that product,” said Carlos Calero, FFCFC loan officer and vice president.

Dr. Estape is part of a growing class of savvy business owners that realize one of the best assets a business can own is its commercial real estate. And when it comes to the best method to obtain ownership, the 504 loan program is the most logical tool available to a commercial banker.

With a 504 loan, the borrower is assured of the best possible terms, including below-market fixed interest rates, long amortization terms (up to 20 years) and a minimal down payment of usually just 10%. The commercial lending partner benefits from a low loan-to-value while maintaining a full-service relationship with their customer.

504 loans are a versatile product that offers both lenders and borrowers many attractive qualities. For lenders who are always looking for quality projects, 504 loans are true assets to their institutions’ portfolios.

For more information about 504 loans in Florida, contact Florida First Capital by visiting www.ffcfc.com, emailing us at insider@ffcfc.com or calling 888.320.5504.