Florida First Capital Announces First-Ever Dip below 5% Interest for SBA Commercial Real Estate, Equipment Loans

 

TALLAHASSEE, FL.--(BUSINESS WIRE)--For the first time ever, the 20-year fixed rate for commercial real estate and equipment loans from the U.S. Small Business Administration’s (SBA) “504” loan program has fallen below the five percent threshold to a historic low of 4.86 percent.

This is one of the lowest rates that has ever been widely available in the country for the acquisition and enhancement of commercial space and equipment by small- and mid-size businesses.

“Such a rate may never be seen again, and small business owners can now also save substantial sums on most program fees, which have largely been waived or eliminated under the American Recovery and Reinvestment Act,” said Todd Kocourek, top right photo) president and CEO of Florida First Capital Finance Corp., Florida’s statewide certified development company.

The SBA 504 loan program is reserved exclusively for the purchase, construction or renovation of owner-occupied commercial real estate and/or the acquisition of industrial equipment or other fixed assets.

“Business owners who understand the benefits of owning rather than leasing their space and equipment will recognize that there may never be a better opportunity to invest in growing their business,” concluded Kocourek.

Florida First Capital Finance Corp. is the state’s largest non-profit certified development company that promotes economic development and job creation throughout Florida by working with the SBA and private-sector lenders to provide financing to small businesses. Florida First Capital lends to small businesses under the SBA 504 loan program for real estate and equipment as well as via the Florida Recycling Loan Program and other small business assistance programs.

For information on the SBA or State of Florida loans, call 888-320-5504, email info@ffcfc.com or visit www.ffcfc.com.

Contact:  For Florida First Capital Finance Corp., John P. David, 305-255-0035, john@davidgarciapr.com