Mercantile Capital Corporation Sees Jump in Lending Volume in August, to Finance I-Drive Hotel, Suburban Atlanta Dental Office Among Others

Mercantile Capital Corporation Sees Jump in Lending Volume in August, to Finance I-Drive Hotel, Suburban Atlanta Dental Office Among Others

ALTAMONTE SPRINGS, Fla. - Mercantile Capital Corporation, which ranks as one of the nation’s leading provider of U.S. Small Business Administration (SBA) 504 loans saw a big jump in commercial loan volume in August.

Christopher G. Hurn, president of Mercantile Capital Corp., said the firm closed on loans worth more than $12 million in August, up more than 212 percent over the same period last year.

Hurn said August loans included $4.5 million to acquire and renovate Best Western’s Sun Vista Hotel on International drive in Orlando and $1.1 million to acquire and renovate a dental office in Atlanta.

“We anticipate we will close on loans that total more than $90 million in 2009,” Hurn said.
SBA 504 loans offer 90 percent loan-to-cost financing at below-market rates for qualified small business owners who want to acquire or develop their own facilities.

For more information, contact:

Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040

Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040

Larry Vershel, Larry Vershel Communications 407-644-4142