November SBA Lenders Update
Highlights:
SBA 504 November Rate: 6.52%
The 20 year 504 Rates for 11/13/02 are:
Effective Rate: 6.52%, (1st 5 years): 6.39%
Note Rate: 5.15%
Debenture Rate: 5.08%
The 10-year 504 Rates are:
Effective Rate: 5.73%.
Note Rate: 4.08%
Debenture Rate: 3.94%
Florida
First Capital Continues Rapid Rise
The SBA fiscal year closed on 9/30/02, the numbers are in and Florida First
Capital is the fastest growing major CDC in the country, the top 504 lender
in North Florida and number one in South Florida (excluding Miami-Dade
County). Full Text.
Congressional
Changeover: Now what?
Congress adjourned until after the elections without addressing the 7(a)
budget issue, and Republican Sen. Kit Bond of Missouri takes back chairmanship of the
Senate Small Business and Entrepreneurship Committee after promising a
“thorough review” of SBA programs. Full Text.
Benefits for
Bankers: When to suggest a 504 loan
504 loans are beneficial in many instances, but some situations
present the greatest benefits for borrowers. Consider a 504 loan when a
borrower needs long-term fixed rate; requires a smaller down payment; wants
to purchase a building in order to stop paying rent; or specifically wishes
to purchase equipment for expansion. Full Text.
SBA News
Disaster Loans available
for drought and Tropical Storm Hanna Victims
Small businesses affected by recent drought conditions
in Baker, Columbia, Gadsden, Hamilton, Jackson, Jefferson, Leon, Madison, and Nassau counties are eligible for
disaster assistance loans. Homeowners, renters, landlords, and businesses
impacted by Tropical Storm Hanna and located in Gadsden and Jackson Counties may also apply for physical
damage disaster loans. SBA
Disaster News
Florida First Capital, the State of Florida's Certified Development Company,
provides financial assistance to small businesses in conjunction with the
U.S. Small Business Administration and private sector lenders. From Pensacola to Key West, Florida First Capital provides new and
growing businesses with long-term, fixed-rate financing for major fixed
assets, such as real estate and equipment. For more information visit our
website at ffcfc.com or call us at
1-888-320-5504 or email us at: info@ffcfc.com
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