Alternative for Recycling Industries
Through the Florida Recycling Loan Program, Florida First
Capital provides Florida businesses with access to capital for the
purchase of equipment and machinery to expand industrial recycling
activities.
7(a) Program Suspended; 504 Loans
Unaffected
The U.S. Small Business Administration last week announced
that effective immediately it will not approve requests for
7(a) loan guarantees until further notice.
In the wake of the 7(a) program suspension, lenders can look
to the 504 program as a replacement when loans involve
owner-occupied real estate and industrial equipment. Consider
a 504 loan when a borrower needs a 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.
