Remove Lender Risk from SBA 504 Loans. Close Your 504 Loans while awaiting SBA Approval.

The Velocity Bridge Loan Program minimizes or eliminates risks for banks and other third-party lenders who finance first lien loans (typically for 50% of project costs) for SBA 504 Loan Program participants. The program provides these lenders with bridge loan funds to cover the “debenture funding”– the second lien loan (typically 30% – 40% of the cost, financed by FBDC), prior to the permanent takeout of the SBA second mortgage.

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Who’s It For?

Benefits

  • Provides certainty of debenture funding
  • Minimizes or eliminates risk associated with SBA 504 Loans
  • Speeds funding and project completion through superior construction administration
  • Lowest bridge loan cost in the market
  • Ensures maximum efficiency of bridge loan approval, closing, construction administration, and funding of the debenture loan

The Velocity Competitive Advantage

The Velocity Bridge Program (VBP) offers several advantages over other bridge lending programs. First, because this is a proprietary platform that is not state run, VBP can offer fast and flexible solutions to meet any potential borrower need. This includes the ability to underwrite, approve, and close loans in under 10 business days. VBP can also make any size bridge loan and any length up to 24 months.

Second, bridge loans through VBP are completely subordinated to the 1st lien permanent lender, instead of on a pari passu basis. This coupled with our willingness to fund our loan amount first, gives that the permanent lender has the most protection on their loan.

Third, the Velocity Bridge Program has the ability to fund the entire loan during the interim period (1st and 2nd lien), which will completely eliminate construction or SBA debenture risk for the permanent lender.

Finally, VBP loans can be used for any type project including acquisitions, tenant improvements, and ground up construction, and it can be used for any eligible SBA product type.

VelocityState Program
Acquisiton/RenovationYesYes
Ground Up ConstructionYesYes
Lien Position2nd Lien SubordinatedPari Passu
Loan FundingCan fund 1stFunds on a Pari Passu basis
Interim Loan Amount$100M ‐ $12MM$250M ‐ $5MM
Initial Max Term:Can be length up to 24 MonthsMaximum 6 Months
Interim interest RateAcquisition = Prime +3.00%
Construction = Prime + 3.74%		min. 1st lien lender rate
Interim Fee1.75% ‐ 2.25%.5% for acquisition
1% for construction
App fee/ Deposits< $3.5M = $3,500
$3.5MM = $6,500		n/a
Construction Management feeThird Party CostUnknown
Ext. Fee1.00%.25% every 6 months
Ext. RateOriginal RateOriginal rate + 2.00%

Additional Notes:

*Up to 50% of the App Fee is refundable
*State Program also charges a servicing fee for acquisition and renovation projects during the first 6 months. They charge 1.25% divided by the interest rate (1.25%/8% = servicing) fee onto the rate.
*State Program uses 6 month terms standard with 6 month extensions

True Professionals & Highly Organized

My gratitude goes to Armando Martinez and the Florida Business Development Corp-team. We recently closed on a SBA-backed commercial property structured utilizing FBDC whose discipline to their purpose, resourcefulness, and dedication provided the successful conclusion.  Great to work with true professionals; highly organized, always communicative and well-connected in the industry.
Rob Conrad
Principal, Encore Optical Laboratories

Such A Great Partner

The SBA 504 Program is a fantastic program to help business owners purchase equipment or a building. Working with Curry at FBDC makes this process easy and smooth. 121 Financial Credit Union is happy to have such a great partner in helping our local hometown businesses.
Tillery Durbin
Manager of Business Services, 121 Financial Credit Union

Highly Recommend Them

The 504 program was the perfect fit for SiteREADY to help retain our operating capital and grow our business.  The FBDC team was a pleasure to work with by helping us to get approved and closed quickly.  We highly recommend them for your real estate project!
Dylan McCrory
SVP, Solutions, Principal, SiteREADY

Our History

Lincoln Capital and Florida Business Development Partnership formed in 2019

Millions funded over the 3 year history

Enabled closings that banks and borrowers deemed ‘dead deals’

Provided necessary capital to close loans during the COVID-19 crises

Application Specific FAQs

A. The source of equity can come from a person/business cash or gifted funds that you don’t have to repay. The equity injection may be borrowed if the business can sustain all of their debt obligations; however, the note may need to be on standby.

A. We generally like to see that you are current on all debt and that past issues occurred greater than two years ago. For all past issues, you will need to provide a reasonable explanation as to what happened.

A. There is a prepayment penalty for the SBA portion of the note. In the event you would like to reduce principal, you may typically be able to pay down the private lender portion without a penalty.

A. An FBDC professional can provide general terms and structure based upon a specific location. To formally apply, an executed contract or term sheet is necessary.

A. If the business is less than 2 years old a plan is required. An FBDC professional can point you in the right direction to obtain assistance.

We look forward to working with you on SBA 504 financing opportunities.

Request for Application

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