Mercantile Capital Corp Reports Record Low Interest Rate on SBA 504 Loans

ALTAMONTE SPRINGS, Fla. - Mercantile Capital Corporation, which specializes in U.S. Small Business Administration (SBA) 504 loans for owners of small businesses who want to acquire their own facilities, reports a record low for the 20-year fixed interest rate on SBA 504 loan projects. This month, the rate fell to 5.14 percent, the lowest since the program’s inception more than 25 years ago.

“This record low interest rate for SBA 504 loans, combined with the fee reductions included in the Stimulus Bill, makes it even more attractive for business owners to purchase or expand their facilities. And this is the second time in three months that we’ve reported this,” said Chris Hurn, CEO and Co-founder of Mercantile Capital Corporation.

SBA 504 loans allow owners of small and mid-sized businesses to purchase, construct, or renovate their commercial property with as little as 10 percent down, long terms (up to 25 years) and fixed interest rates. Equipment and other fixed assets can also be included in these loans, to the benefit of the borrower.

“The SBA 504 loan has long been a powerful tool for business owners to grow and expand their operations. I hope the announcement of this historically low interest rate will cause more of America’s entrepreneurs to perk up and realize that there are once-in-a-generation opportunities for them to create wealth and help get our economy back on track,” said Hurn.

Mercantile Capital Corporation ranks as one of the most active providers of SBA 504 loans nationwide, providing owners of small and mid-sized businesses the option to own commercial property with up to 90 percent loan-to-cost financing.

Visit www.504Experts.com or www.504blog.com for more information.

For more information about this news release contact:
Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040
Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040
Shannon D. Marks, President/COO, Mercantile Capital Corporation, 407-786-5040
Larry Vershel, Larry Vershel Communications 407-644-4142