September SBA Lenders Update Highlights:

SBA 504 September Effective Rate Falls to: 6.57%
The 20-year 504 Rates announced Today (9/17/03) are:
Effective Rate: 6.57%, (1^st 5 years: 6.45%)
Note Rate: 5.20%
Debenture Rate: 5.13%

The 10-year 504 Rates are:
Effective Rate: 5.78%, (1^st 5 years: 5.59%)
Note Rate: 4.12%
Debenture Rate: 3.98%

FFC Enters Top 10
Florida First Capital last month entered the ranks of the Top Ten Certified Development Companies in the United States. As of 8/31/03, FFCFC had approved 119 loans during this fiscal year, which translates to a 59% increase over the same period last year. FFCFC is now the tenth most active CDC in the country. Full Text.

SBA Rule Changes Will Enable FFC to Operate In All Counties
SBA's proposed changes to 504 program regulations will eliminate territorial monopolies in the 504 loan program, bringing true competition to every county in the state. Full text.

FL. Small Businesses on the Rise
Despite a slow economy and weak job market, small businesses in Florida grew by 5.3% last year, according to a report from the Small Business Administration's Office of Advocacy. Full Text.

Survey: Small Biz Needs Help with Loans
In a recent survey of nearly 2,500 owners of industrial small businesses, nearly one-third (29%) said they need help in obtaining a loan, and 44% said that access to capital is a challenge. Full Text.

SBA To Reorganize Liquidation Operations
SBA last week began what appears to be a major reorganization of the agency’s liquidation department. Up to 200 agency employees will be relocated or offered early retirement. Full Text.

FFC Events

Lender Training at NEC in Orlando 9/22
FFC VP Vincent LoPresti will be conducting lender training from 2:30 p.m. to 4:40 p.m. on September 22 at the National Entrepreneur Center in Orlando. More information.

SBA News

Disaster Loans for West Coast Flooding
West coast flooding this summer (June 19 – Aug. 21) constitutes a disaster according to SBA. Physical damage and economic injury loans are available to homeowners, renters, landlords, and businesses located in Citrus, Manatee, and Pasco counties and the contiguous counties of De Soto, Hardee, Hernando, Hillsborough, Levy, Marion, Pinellas, Polk, Sarasota, and Sumter. 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

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