December SBA Lenders Update
Highlights:
SBA 504 December Rate: 6.54%
The 20 year 504 Rates for 12/10/02 are:
Effective Rate: 6.54%, (1st 5 years: 6.41%)
Note Rate: 5.17%
Debenture Rate: 5.10%
The 10-year 504 Rates are:
Effective Rate: 5.73%.
Note Rate: 4.08%
Debenture Rate: 3.94%
Florida
First Capital Names S.E. Florida Business Development Officer
Responding to a rapid
increase in lending activity since entering Southeast Florida just last year,
Florida First Capital named its first business development officer devoted
exclusively to this important territory. Deborah Petrell, an experienced
lender and former vice president of finance of The Broward Alliance, joined
the company last month. She is based in Boca Raton. Florida First Capital is the
top 504 lender in Southeast Florida (excluding Miami-Dade). Full Text.
House Fails to Fix
7(a) Loan Shortfall
Though the Senate passed
legislation to enable SBA to double the size of the shrunken 7(a) loan
program, the House adjourned without taking up the bill, meaning small
businesses who want larger 7(a) loans must look to the 504 loan program, find
other sources or wait until at least early next year. Full Text.
FFC Annual
Meeting Draws Lenders and Economic Developers
Florida First Capital
hosted its annual meeting November 25 in Tampa, drawing a diverse crowd of
lenders, economic development officials and other supporters of the 504 loan
program. Among other items on the agenda, FFC elected its board of directors
and closed out the year with an increase in total loans of more than 65%. Full Text.
SBA News
Florida First Capital Receives Southeast Florida 504
award.
SBA’s South Florida district office recently
recognized Florida First Capital for its growth in loan volume in the South Florida district which represents 24
counties, primarily south of Orlando to Key West. Florida First Capital approved
64 loans in the district last year. SBA News Release.
Disaster Loans
Available for Severe Storm Victims in Holmes and Jackson
Small businesses affected
by severe storms and tornadoes in Holmes and Jackson counties may apply for
disaster assistance by August 14, 2003. SBA Disaster News.
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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