| DISASTER RECOVERY NEWS | |
 State Selects FFCFC to Administer Oil Spill Emergency Bridge Loan Program
On June 7, 2010, Gov. Charlie Crist activated Florida's Small Business Emergency Bridge Loan Program in an effort to assist businesses impacted by the Deepwater Horizon oil spill. The state also engaged Florida First Capital once again to administer the emergency loan program.
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| COMMERCIAL LENDING | |
 June Marks Lowest Interest Rate of the Year for 504 Loans
The 20-year fixed interest rate on Small Business Administration (SBA) 504 loans for commercial real estate fell to 5.29% for June - the lowest rate for the loan program so far this year. For small business owners looking to purchase or renovate their existing properties, this should come as welcomed news.
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| ASK THE EXPERTS |
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 504 Q&A
Q1 -- Are Small Business Administration 504 loan defaulted borrowers tracked or pursued? Q2 -- Why are CDCs concerned with 504 liquidations since they don't directly fund 504 loans? Q3 -- As a first mortgage holder, can't the Third Party Lender (TPL) do anything it wants? Q4 -- Since the TPL is in first position, why wouldn't it just foreclose out the SBA's position on the 504 loan?Answers ...
If you have a question you'd like our Florida 504 loan experts to answer, email it to insider@ffcfc.com. |
| MEET THE STAFF | |
 FFCFC Names Tampa/St. Pete Area VP & Business Development Officer
Florida First Capital is pleased to announce that Ron Mirenda has joined the company as a vice president and business development officer for the Tampa/St. Petersburg area.
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| BORROWER PROFILE | |
 504 Loan Energizes Battery Retailer
Ray Glass knows a thing or two about batteries. After all, he's been in the business for more than 50 years. What started out as a single wholesale truck route based in Thomasville, Georgia, today with the help of the 504 loan program has grown into a multiple location empire of Battery Source discount stores.
Profile ... |
| 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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