Mercantile Capital Corporation and Plaza Bank Provide Financing for Pre-School in Culver City, CA For Over $2.4 Million
Mercantile Capital Corp, a leading provider of U.S. SBA 504 loans for small business owners, joined with Plaza Bank to close a commercial financing package for Branches Atelier recently for $2,474,000 in total project costs.
- Orlando, FL (1888PressRelease) June 01, 2012 - Mercantile Capital Corporation, which ranks as one of the nation's leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, joined with Plaza Bank, a leading provider of SBA loans in Southern California, to close a commercial financing package for Branches Atelier recently totaling $2,474,000 in project costs.
Branches Atelier is a pre-school committed to creating high-quality, creative, dynamic, educational programs for children, families and educators. Branches was founded in July of 2007 by Patricia McGrath, a well-known speaker and early childhood educator with 25 years of experience.
"Small businesses are the core of the US economy and we're here to support the companies that provide the majority of jobs in America," said Todd Massas, Senior Vice President of Plaza Bank, a community business bank located in Southern California and Southern Nevada.
Mercantile and Plaza joined together to use the SBA 504 loan program to help small business owners, like McGrath, preserve more capital and use it to grow the business in other ways. Ordinary commercial loans require two to three times the equity (20-30% down), but with the 504 loan, the down payment is only 10%.
Plus, the ability to get long-term (up to 25 years), below-market, fixed interest rates makes it possible for business owners to save on interest expenses. Longer loan amortizations allow for smaller monthly payments, which have less impact on business cash flow.
For more information, visit http://www.504Experts.com and http://www.504Blog.com.
Contacts:
Chris Hurn, Mercantile Capital Corporation, 407-786-5040
Robin Lashley, Mercantile Capital Corporation, 407-786-5040
Todd Massas, Plaza Bank, 858-414-7600
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