FFCFC

Founded by the State of Florida and licensed since 1984 by the U. S. Small Business Administration (SBA) as Florida's Statewide Certified Development Company, Florida First Capital Finance Corporation (FFCFC) is chartered for the primary purpose of advancing the economic development and general welfare of the citizens of the State of Florida by promoting and assisting the growth and development of small business concerns within the state. In 1988, FFCFC contracted with the Florida Department of Commerce to provide SBA trained and qualified staff for the operation of its SBA 504 loan program. In 1996, upon the dissolution of the Department of Commerce, FFCFC contracted with the state's Office of Tourism, Trade and Economic Development and with the Capital Development Board of Enterprise Florida to provide its staffing and management services. In 1997, at the request of the Florida First Capital Board of Directors, the Florida Legislature approved a proposal for FFCFC 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. Since leaving the state budget, FFCFC has achieved its goal of self sufficiency, greatly increased loan volume each year, and been recognized by SBA for its increased capability and lending activity and for its lending assistance to minority, rural and women-owned small businesses. Now, to an ever-growing degree, Florida First Capital assists Florida small businesses from Pensacola to Key West to meet their financing needs.