ALTAMONTE SPRINGS, Fla. --- 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, closed five commercial loans in September to finance projects worth more than $13.8 million in total project costs.
Chris Hurn, chief executive officer at Mercantile Capital Corporation, said the largest single loan in September was for the $9.8 million refinance of a plastic surgery center in Utah.
Hurn reported Mercantile Capital closed on 19 loans during the third quarter to finance projects totaling more than $55.7 million in total project costs. Through the first three quarters of 2011, the company closed loans worth $124.85 million, a 33.07 percent increase over the same nine-month period last year, Hurn said.
Mercantile Capital is a wholly-owned subsidiary of Old Florida National Bank.
More information can be found at www.504Experts.com and www.504Blog.com.
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