Mercantile Capital Corporation closes 24 loans during First Half of 2011 to Finance Projects Valued at More than $69.1 Million

ALTAMONTE SPRINGS, Fla. --- Mercantile Capital Corporation, one of the nation’s largest providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reported it closed 24 commercial loans from Jan. 1 through June 30 to finance projects valued at a total of more than $69.1 million.

Their largest loan, year to date, was for a healthcare management facility in Houston, Texas, worth more than $8.3 million in total project costs.

Christopher G. Hurn, chief executive officer of Mercantile Capital Corporation, a wholly owned subsidiary of Old Florida National Bank, said these loans helped small businesses in nine states create 381 jobs.

Mercantile has now closed loans in 32 states, Puerto Rico, and the District of Columbia for over $644.1 million in total project costs since it began eight years ago.