August SBA Lenders Update Highlights:
SBA 504 August Effective Rate:
6.68%
20-year Fixed Rate
Effective Aug. 12 - Sep. 16, 2003.
Effective Rate: 6.68%, (1st
5 years: 6.55%)
Note Rate: 5.31%
Debenture Rate: 5.24%
FFC Merges with N. Central
Florida CDC (ADCO)
Florida First Capital recently completed a merger with North Central Florida
Areawide Development Co., Inc. – known by many in the area as ADCO. The
CDC’s longtime chief executive, Jim Emerson, joins Florida First
Capital, and we have added Alachua County to our service area, already Florida's largest. Full Text.
FFC Opens Orlando’s First
Full-Service 504 Office
Florida First Capital recently opened the Orlando area’s first,
full-service 504 loan office, located at the new National Entrepreneur Center. We are the only CDC with sales
and underwriting professionals on the ground in Orlando. Full Text.
FFC Loan Approvals Up 58%
Through the first nine months of the fiscal year, Florida First Capital loan
approvals are up 58%, and we remain the 12th most active Certified
Development Company in the country. Full Text.
Congress Set to
Boost 504 Loan Limits
The House Small Business Committee recently passed legislation that will
increase the maximum size of 504 loans to $2 million, and raise the loan
limit for manufacturing businesses to $4 million. A similar bill passed the Senate Small
Business Committee in July, and compromise legislation could be voted into
law within the next few months. Full Text.
FFC Events
Lender
Training at NEC in Orlando August 19
FFC VP
Vincent LoPresti will be conducting lender training from 9 a.m. to 11 a.m. on
August 19 at the National Entrepreneur Center in Orlando. More
information
SBA News
S. Fla. SBA District
No. 2 in Nation
By increasing financial assistance to entrepreneurs by 92 percent in the
first nine months of fiscal 2003, SBA's South Florida District has won the
second-place ranking among 70 district offices in the country. Full text.
Disaster Loans for
West Coast Flooding in June
Homeowners, renters, landlords, and businesses located in Sarasota County and
contiguous counties of Charlotte, DeSoto and Manatee may apply for physical
damage disaster loans for severe storm and flooding damage that occurred June
19-30. Full Text.
Florida First Capital, the State of Florida's Certified Development
Company, provides financial assistance to small businesses in conjunction
with the U.S. Small Business Administration and private sector lenders. From Pensacola to Key West, Florida First Capital provides new and
growing businesses with long-term, fixed-rate financing for major fixed
assets, such as real estate and equipment. For more information visit our
website at ffcfc.com or call us at
1-888-320-5504 or email us at: info@ffcfc.com
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