May SBA Lenders Update Highlights:
SBA 504 Rates: 5.31% - 6.08%
20-year Fixed Rate
Effective May 14 – June 10, 2003.
Effective Rate: 6.08%, (1st
5 years: 5.96%)
Note Rate: 4.71%
Debenture Rate: 4.64%
10-year Fixed Rate Effective May 14 – July 15, 2003.
Effective Rate: 5.31%, (1st
5 years: 5:12%)
Note Rate: 3.66%
Debenture Rate: 3.53%
FFC Wins Award as Nation’s Fastest Growing CDC;
Top in North Fla.
The National Association of Development Companies (NADCO) recognized Florida
First Capital as the nation’s fastest growing Certified Development
Company at the trade organization’s annual meeting in Phoenix last week. In addition, we were
again named the top 504 lender in North Florida. Full text.
FFC Ranked Among Leading SBA
Lenders by Florida Trend
The May
issue of Florida Trend ranks Florida First Capital the sixth largest SBA
lender in Florida for 2003. This was the first year that CDCs were
included in the annual rankings. Full Text.
Panhandle
Office Co-Locates at SBDC
Florida First Capital’s Panhandle office last month began operating
from office space shared by the University of West Florida Small Business
Development Center. Full Text.
Congress
Kills $1 Billion 7(a) Appropriation
Negotiators from the House and Senate deleted a provision from the
supplemental appropriations bill that would have added $1 billion to the 7(a)
program. Full
Text.
FFC Local Outreach Events
FFC
Co-Sponsors Broward, Polk Events.
Florida First Capital
is co-sponsoring the Broward County Launch of the Florida Finance Network, an organization that promotes Florida’s unified economic
development financing programs. The
lunch meeting will begin at 11:30 a.m. on Friday, May 16 at the Westin
Diplomat Hotel in Hollywood. The Central Florida Development Council will host
a 504 presentation, open to all Polk County lenders, at 9 a.m. on Wednesday, May 21 at the
Citrus and Chemical Bank in Bartow. Full Text.
SBA News
SBA Announces New
System to Scrutinize Loan Risk
SBA recently contracted with two financial vendors to strengthen its lender
oversight, which the General Accounting Office had criticized in December for
insufficient resources and independence. Link to SBA News
Release
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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