Mercantile Capital Corp Closes Seven Commercial Loans to Fund Projects Valued at Over $19.1 Million in January
Mercantile Capital Corporation, which provides U.S. SBA 504 loans for small business owners who want to acquire or develop their own facilities, reported it loans in 7 states in January to finance projects valued at $19,173,411.
- Orlando, FL (1888PressRelease) February 15, 2012 - Mercantile Capital Corporation, which provides U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reported it closed commercial loans in seven states in January to finance projects valued at $19,173,411.
Chris Hurn, Chief Executive Officer of Mercantile Capital Corporation, said the firm financed projects in Colorado, Arizona, Tennessee, California, Louisiana, Texas and Illinois in January.
Geof Longstaff, Chairman of Mercantile, said the firm's largest single loan in January helped finance the $5.1 million acquisition of a Comfort Inn & Suites in Midland, Texas.
Mercantile Capital Corporation, a wholly-owned subsidiary of Old Florida National Bank, ranks as one of the most active providers of SBA 504 loans nationwide. They specialize in commercial property financing for owners of small and mid-sized businesses who want to acquire or enhance their own facilities, with up to 90 percent loan-to-cost financing.
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