December Lender Update
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December 2006
 
 
Florida First Capital Finance Corporation
Lender Update

FFC 504 Rates

FFC 504 December Effective Rate Falls to 6.09%

The 20-year 504 rates announced today for December are:

FFC Effective Rate: 6.09%
FFC First Five Years: 6.00%
Note Rate: 5.19%
Debenture Rate: 5.12%

The 10-year 504 rates for November/December are:

FFC Effective Rate: 6.73%
Note Rate: 5.44%
Debenture Rate: 5.23%


Teleseminar on the 504 Loan Program for Bankers

The Office of the Comptroller of the Currency will be presenting a telephone/web seminar on the 504 Loan Program, Wednesday, January 31, 2007 from 2:00 - 3:30 p.m. EST. It will be a great educational opportunity for banks interested in the program to hear details about how the program works as well as to ask questions.

FFCFC 504 Provides Family Vending Needed Working Capital

In April of this year, Family Vending Company was able to purchase a 24,000 square foot building on 2.58 acres of land with a total project cost of over $2,300,000 thanks to an FFC 504. “Most other lenders would have charged a down payment of 20% plus out-of-pocket closing costs and fees, but the 504 included all closing costs and fees. Being able to make a full down payment of only 10% of these total project costs saved us a considerable amount of working capital and made our recent expansions possible,” said Barry Frankel, President and CEO.

Ask the Experts
504 Q & A

Q – How is adequate collateral determined under the 504 loan program? Must a guarantor pledge a residence if it has 20% equity in the home?

Ten Reasons Small Business are the Heart of the Nation’s Economy

The SBA’s Office of Advocacy has released their “Top 10” list for the effect that small businesses have on the U.S. economy.

Credit Scoring Can Increase Access to Credit for Small Business

The introduction of credit scoring by banks for small business loans may help increase small businesses’ access to credit, according to a study released by the Office of Advocacy of the U.S. Small Business Administration. The report also found that relationships continue to be the dominant factor in banks’ decisions to lend to small businesses.

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FFCFC is proud to be a charter member of the Florida Finance Network, an organization that unifies Florida’s economic development financing program and is available throughout Florida to educate lenders, business owners, and economic development officials about financing programs available to small businesses. FFN builds awareness of state and federal small business and economic development financing programs available to Florida businesses.
phone: 888-320-5504

Since 1983 FFCFC, Florida's Statewide Certified Development Company, has provided financial assistance to small businesses in conjunction with U.S. government, State of Florida and private sector lending programs.

Florida First Capital Finance Corporation | 1351 N. Gadsden Street | Tallahassee | FL | 32303