April Lender Update
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April 2007
 
 
Florida First Capital Finance Corporation
Lender Update

FFC 504 Rates

FFC 504 April Effective Rate 6.29%

The 20-year 504 rates announced for April are:

FFC Effective Rate: 6.29%
FFC First Five Years: 6.20%
Note Rate: 5.40%
Debenture Rate: 5.32%

The 10-year 504 rates for March/April are:

FFC Effective Rate: 6.30%
Note Rate: 5.23%
Debenture Rate: 5.05%


504 Program Crosses $30 Billion Mark

In March 2007, the cumulative issuance of debentures under the SBA 504 Program crossed the $30 billion mark. Since November 1986, 73,961 debentures totaling $30,219,626,000 were issued.

FFCFC Has House of Floors of Tampa Covered

House of Floors of Tampa opened its doors for business in June 1993 with help from an FFCFC 504 loan. Offering a full range of floor coverings to the multi-family housing industry via the internet, House of Floors of Tampa now handles and deliver orders anywhere in the Southeast.

Ask the Experts
504 Q & A

Q –Must a small business meet the SBA 504 loan occupancy requirements immediately?

Florida is No. 1 in Home Defaults; Banks Turn to 504 Loans to Strengthen Portfolios

Florida led the United States in housing defaults and foreclosure filings last month, while homeowners nationwide are falling behind on their payments 33% faster than they did last year, according to California- based RealtyTrac. Banks, however, are finding they are able to add good loan-to-value transactions to their portfolios by utilizing the 504 Program for commercial real estate loans.

As Bankruptcies Surge, Lenders Seek Alternatives to Mortgage Foreclosures

Spurred by a sputtering U.S. economy, bankruptcy filings are on the rise in 2007, an increase analysts predict will continue. In response, lenders are seeking alternatives to foreclosures in cases where borrowers are able to meet obligations, but borrowers need help.

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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