First Capital Finance and Pricus Marine SBA 504 Loan Leads to Shipwreck Discovery
March 27, 2024
Delaney Sexton
Contributing Editor
First Capital Finance and Pricus Marine SBA 504 Loan Leads to Shipwreck Discovery
“This project was an exciting opportunity for FCF as we expanded our typical financing into vessels. As Floridians, we understand the importance of the work companies like Pricus Marine accomplish. Our collaboration is a testament to the value of below-market, fixed-interest rate financing that the SBA 504 loan program can provide,” explains Stacey Green, Assistant Processing Manager.
First Capital Finance recently facilitated an SBA 504 loan for Pricus Marine, a premier marine hydrographic and geophysical surveying company. Known for its expertise in coastal environments, this funding allowed Pricus Marine to pursue the expansion of its marine vessel fleet.
Led by industry veteran and founder Dave Nielson, the company enlisted the help of Assistant Processing Manager Stacey Green to secure financing for acquiring vessels necessary for their expeditions.
The vessels were featured in season two, episode two of “Bermuda Triangle into Cursed Waters” on the History Channel. Pricus Marine embarked on an exciting expedition, discovering the remains of a long-lost WWII-era shipwreck off the Florida coast.
Our team worked with a mortgage lender to provide funding for the vessel purchases and improvements, and then coordinated takeout of a portion of the project by way of a Debenture from the Small Business Administration (SBA).