| COMMERCIAL LENDING |
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 504 Loan Program 'Business As Usual' in Spite of Credit Crisis
In spite of the credit crisis that has slowed lending for commercial expansion, the National Association of Development Companies (NADCO) and Florida First Capital remind lenders and entrepreneurs that SBA 504 loans are still available, and even more attractive, during these turbulent economic times. Story ... |
| INDUSTRY NEWS |
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 SBA Fees Change: 504 Reduced; 7(a) Increased
Effective Oct. 1, 2008, the on-going borrower fee on a 504 loan declines to zero. The comparable 7(a) fee rises to 55 basis points, the statutory maximum.
Details ...
SBA Clarifies Minimum Term of Third Party Lender Loans
SBA District Counsel recently clarified an issue pertaining to the minimum term of the Third Party Lender Loan (first mortgage for 504 loans).
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| ASK THE EXPERTS |
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 504 Q&A
Q1 - Based on SOP 50-10(5) when is an Environmental Reliance Letter required by the SBA?
Q2 - If the Environmental Assessment lists the lender, certified development company and the SBA as users within the report, is the Reliance Letter still necessary?
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| ON THE BOOKS |
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 FFCFC 504 Authorizations
The following is a listing of recent FFCFC 504 authorizations.
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| SUCCESS STORY |
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 Mr. Squeaky Goes to College
Richard Sasso is a well educated man. He graduated Phi Beta Phi Beta Kappa with a degree in history from San Diego State University. He finished law school at the University of Miami and embarked on a career in maritime law. The career he finally settled on, however, involves water in the form of a car wash in Pompano Beach, Florida. Story ... |
| FLORIDA FINANCE NETWORK |
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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.
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