July SBA Lenders Update Highlights:

SBA 504 July Effective Rates: 4.91% - 5.79%
20-year Fixed Rate Effective July 15 – August 13, 2003.
Effective Rate: 5.79%, (1^st 5 years: 5.67%)
Note Rate: 4.42%
Debenture Rate: 4.35%

10-year Fixed Rate Effective July 15 – September 16, 2003.
Effective Rate: 4.91%, (1^st 5 years: 4.72%)
Note Rate: 3.25%
Debenture Rate: 3.13%

FFC Helps Badcock Retailers Gain SBA Eligibility
W.S. Badcock Corporation, one of the largest home furniture retailers in the country, last week announced that its dealers are now eligible for SBA financing. FFC was instrumental in the company’s negotiations with SBA, earning praise from Badcock executives. Badcock news release.

Bill Increase 504 Loan Limits, Eases Job Ratios
The Senate Small Business Committee last week approved a bill that increases the CDC funding limit for 504 loans to $1.5 million and also changes the job creation ratio from one per $35,000 to one per $50,000. Full Text

Sharp Increase in SBA-Backed Loans
The number of small businesses receiving loans backed by the U.S. Small Business Administration in the first three quarters of FY 2003 is up by almost 36 percent over the same date a year ago, with sharp increases in loans to minorities, women and veterans. Link to SBA News Release.

News You Can Use: Entrepreneur Magazine
Entrepreneur Magazine this month covered recent changes in the 504 program, including FFC’s take on the consolidation of loan processing. Entrepreneur Magazine.

FFC Events

Lender Training at NEC in Orlando July 24
FFC VP Vincent LoPresti will be conducting lender training from 1 p.m. to 3 p.m. on July 24 at the National Entrepreneur Center in Orlando. More information

SBA News

Disaster Loans For May Rain, Damage In Broward
Due to heavy rains and flooding that occurred May 27-29, 2003, homeowners, renters, landlords, and businesses located in Broward County and the contiguous counties of Collier, Hendry, Miami-Dade, and Palm Beach may apply for physical damage disaster loans through SBA. Full text.

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

To be removed from this e-mail distribution list, reply to this e-mail with “remove” in the subject line.