ALTAMONTE SPRINGS - Mercantile Capital Corporation reports it closed on five commercial property loans worth more than $11.6 million in total project costs in January. The firm, which ranks as one of the largest providers of U.S. Small Business Administration (SBA) 504 loans in the nation, predicts it will see a record first quarter this year with loans worth more than $26 million in total project costs.
Christopher G. Hurn, president and chief executive officer of Mercantile Capital Corporation, said the firm closed on only three commercial property loans during the first quarter of 2009.
The firm finished the year with 35 closed loans worth over $78.1 million in total project costs.
This year, Hurn said, Mercantile Commercial should close on loans that represent more than $103 million in total projects.
Hurn said Mercantile Capital’s largest project in January was $4.7 million for the construction and improvements of an existing convenience store in Las Vegas.
For more information about this press release, contact: G. Geoffrey Longstaff, Chairman, Mercantile Capital Corporation 407-786-5040; Christopher G. Hurn, CEO, Mercantile Capital Corporation, 407-786-5040
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