Using the Zoner ID, per the rules, you've access to all Zoner technology and ships. My comment was about the role play side of it. I can't bar you from using a Zoner cap ship if you really want to do so - I will frown upon it and be grumpy about it though.
As for the founding of a Latin Republic - if this is the long term goal, understand that at some point you will have to ditch the Zoner ID for another. My suggestion for the Freelancer ID w/Zoner IFF was two fold - would a bunch of refugees such as yourselves really have the ability to field 5k transports? Doubtful.
A limit on your cargo hold size makes sense. Yes, I know the reason for wanting a 5k transport is to help fund the faction itself - but perhaps joining a trading faction an funneling the credits you make there here would be a wiser choice? Or perhaps joining a mining faction.
Yea - my suggestion then limits what you can do in game while on the RoL ships. I understand that. I'd suggest exploration for starters - you know nothing of Sirius or Gallia. Use of your medium transports for in role play trading (which can be profitable) - you know getting yourselves supplies and such. Of course killing the squids as they are the reason for your plight is also a good option. Other than that you can also fly around and meet other factions and collect information so your faction can begin to understand their new home. There is plenty for you to do - even without using 5k transports.