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Services:
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Commercial Loans
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Commercial Mortgage Loans
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Construction Loans
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Lines of Credit
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SBA Loans
Commercial Loans
Making money takes money. Move your business forward with the funds you need. There’s no time to waste.
Bold and determined decision-making is an essential part of growing any business. Whether you need to increase your short-term capital, expand operations, acquire new equipment or machinery, or make improvements to your commercial property, we offer loan structures to fit your needs, including:
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Lines of credit
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Fixed-term loans of more than one year
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Variable-term loans
1-866-456-2265
305-577-6000
Commercial Mortgage Loans
Set up a new site for your business? We can help you open the door to this opportunity.
Our Commercial Mortgage Loans can be used to:
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Acquire a new business location
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Remodel an existing location
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Expand an existing location
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Refinance your current property
Types of properties that qualify include:
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Individual commercial buildings or offices used by owners
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Leased, residential, commercial, offices, or mixed-use buildings
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Shopping malls
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Commercial sites and office condominiums
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Industrial properties and storage facilities
The main features of these types of loans include:
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Short to long-term fixed loans
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Ability to finance or re-finance up to 80%1 of new owner-occupied property value, or existing property value
Acceptable uses include:
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Offices
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Pharmacies
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Markets
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Buildings with more than four residential units
1-866-456-2265
305-577-6000
Construction Loans
We offer flexible financing options because businesses need room to grow.
If your plan is to expand your current space, purchase and develop an existing property, or start a building from the ground up, we’re here to help you meet your goals.
Our specialists will work with you throughout the construction process to ensure the satisfying completion of every stage.
1-866-456-2265
305-577-6000
Lines of Credit
Run lean, but never worry about running out of funds.
Financial flexibility is key in today’s competitive business environment. With a revolving line of credit, you can address instant financial needs and maintain a dependable supply of working capital…for whatever comes up next…
Consider these additional benefits that our Line of Credit offers:
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Easier cash flow management
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Competitive variable rates
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Interest payments only on funds drawn
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Improved day-to-day operations
Got big plans? Get the right financing solution to help you make them come true.
1-866-456-2265
305-577-6000
SBA Loans
We can provide simple, hassle-free Commercial Loans that are guaranteed by the US Government (U.S. Small Business Administration).
FirstBank, in partnership with the U.S. Small Business Administration, performs the origination, processing, and servicing of SBA Loans under the Preferred Lender Program (PLP).
We are committed to serving small businesses by obtaining the financing you need to grow. We specialize in the basic and most popular SBA loan programs, which can be used for a variety of business purposes. With an SBA loan from FirstBank Florida, you will have access to the money you need.
The SBA–guaranteed loans we currently offer are:
7(a) Loans
Provides financing for a variety of business functions.
To qualify, your business must be for-profit and meet SBA size standards; show good standing, credit management, and financial maturity that is based on your ability to repay.
Use of proceeds include:
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Expansion, renovation, and new construction
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Purchase of land or building
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Purchase equipment 2 & fixtures
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Lease-hold improvements
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Working capital2
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Refinance debts for compelling reason
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Inventory
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Starting a business
Advantages include:
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Maximum loan amount: Up to $5 million
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85% guarantee for loans up to $150,000
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75% guarantee for loans greater than $150,001
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Loan term financing
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Improved cash flow
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No balloons
SBA Express
Designed to simplify, streamline, and expedite the application process for loans up to $350,000.
Use of proceeds include:
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Working capital
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Purchase of inventory, machinery, and equipment
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Furniture and fixtures
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Purchase of fixed assets
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Financing of trading assets, among other business–related purposes
Advantages include:
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Up to $350,000 with variable interest rates
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Revolving option (up to 7 years) or as a fixed-term loan
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SBA provides an up to 50% guarantee
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Short-term and/or long-term financing available
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Low documentation loans
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Quick approvals and closings
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Fast turnaround
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Easy-to-use line of credit
504 Loans
The 504 Loan Program will help your small business purchase the assets needed to take it to the next level. It allows businesses to purchase owner-occupied commercial real estate and equipment, while retaining working capital.
Provides long-term financing of fixed assets, such as:
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Commercial real estate
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Equipment with a useful life exceeding 10 years
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Other uses include construction and/or property improvements
Advantages include:
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Up to $5 million loan
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Low down payments, as low as 10% on multi-purpose properties
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Full amortization and no balloons (CDC portion)
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Low fixed and variable rates available
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Quick approvals and closings
1-866-456-2265
305-577-6000
Ready to open your account? Review the help guide
Make sure you have the following documents available before starting the process.
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Business tax returns for the last 2 years or financial statements prepared by a CPA3
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Interim financial statements (if the latest statement is more than 6 months old)
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Personal financial statement that is recent, as of the date of origination
- Business background or plan
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Corporate documents, as applicable, depending on the legal entity
- Corporate resolution
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Other documents may be requested, as required
Additional requirements for loans under the SBA Express program
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Projected income and expenses for 3 years (if the business has been established for less than 2 years)
- Personal financial statements or SBA Form 413 Personal Financial Statements
All loans and lines of credit are subject to credit approval. Subject to the terms and conditions of FirstBank. FirstBank Florida is a division of FirstBank Puerto Rico.
1 SBA 504 financing is available for those who qualify, which provides 90% financing. Only in US territory.
2Generally, working capital, machinery and equipment may not exceed life of equipment 5-10 years. Real Estate is up to 25 years. Loans up to $350,000 have a 90% guarantee. Loans between $350,000 - $500,000 have a 75% guarantee.