MISSION
As a federally regulated Certified Development Company (CDC), our primary mission is economic development and job creation throughout Florida and currently parts of South Alabama and Georgia.
DESCRIPTION
Founded by the State of Florida in 1983 and licensed since 1984 by the Small Business Administration (SBA) as a Certified Development Company, First Capital FinanceFlorida First Capital is chartered for the primary purpose of advancing the economic development and general welfare of the citizens of Florida. In 1997, the Florida Legislature approved a proposal for Florida First Capital to leave the state budget and become financially self-sufficient, providing for an initial state contribution of capital followed by a transition to self-sufficiency and an end to state financial support.
We have helped thousands of clients achieve their small business dreams through the SBA 504 Loan Program. We are the experts to turn to for small business growth and expansion capital asset financing. No other Certified Development Company is as committed to the success of its customers than us. And no other Certified Development Company strives to make the entire loan process as helpful, quick and easy as us. You can count on our staff to deliver the best and most complete service the industry has to offer.
Whether you are expanding, remodeling, converting, refinancing or just starting out, with Florida First Capital/First Capital Finance as your trusted SBA 504 lender, you’ll spend less time worrying about your loan and more time doing what you do best – running your small business, creating jobs and supporting the economy.
SERVICES/PROGRAMS
• Sometimes traditional lending methods just don’t fit. The SBA 504 Loan Program is a great alternative that can help commercial lending organizations and credit unions retain and attract customers, assist in risk and liquidity management and provide fee and interest income. By working with Florida First Capital/First Capital Finance, you can provide up to 90% financing for eligible fixed asset purchases, such as commercial real estate and heavy duty machinery and equipment, to small business customers who might otherwise be unable to find long-term credit to grow and expand.
• One of the most critical stages for a commercial lending partner in an SBA 504 loan project is the interim phase between the commercial lending partner’s closing and the permanent takeout of the second mortgage by the SBA, during which time the commercial lending partner is at risk on the second mortgage. The 504 Bridge Loan Program, available for any Florida SBA 504 loan, addresses this exposure and timing difference by providing commercial lending partners with bridge loan funds to cover the second mortgage until the permanent SBA second mortgage takeout occurs.
• The Florida Recycling Loan Program available through Florida First Capital provides Florida businesses with low-cost, long-term, fixed interest rate loans for the purchase or refinance of equipment and machinery used to expand industrial recycling activities throughout the state. The program is designed to assist companies that manufacture products from recycled materials or convert recyclable materials into raw materials for use in manufacturing. The long-term goal of the Florida Recycling Loan Program is to divert solid waste from landfills by helping companies to expand their recycling businesses or retrofit manufacturing operations to recycle secondary materials. Funding is available for companies in any industry that purchase recycling machinery or equipment as well as manufacturers, distributors and retailers of recycling equipment.
• The Florida Finance Network unlocks vital capital resources to help Florida businesses grow and succeed. Connect with the network to meet your specific financing needs. Access to capital remains one of the most important concerns for business owners who are growing and expanding their operations and creating jobs in the Sunshine State. The Florida Finance Network is a group of nonprofit economic development lending organizations that connects Florida businesses with various federal, state and private financing programs to meet specific capital needs. Florida Finance Network members specialize in different areas, but collectively they cover the majority of business financing needs. Network members are knowledgeable and well-connected to help your business determine its best funding options.
