Altamonte Springs, Fla. --- Mercantile Capital Corporation, one of the nation’s largest and most active 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 four commercial loans in October to finance projects that total more than $9.4 million.
Geof Longstaff, chairman of Mercantile Capital Corporation, said the firm’s largest single loan in October financed a $5.1 million diabetes treatment center in Citrus County.
Since the start of the year, Mercantile Capital Corporation has closed 46 commercial loans to finance projects that total more than $134 million, Longstaff said.
Chris Hurn, chief executive officer of Mercantile Capital Corporation, said, “We expect to finance over $150 million in total projects in 2011. That would mark a substantial increase over 2010 and be our all-time record for volume.”
Mercantile Capital Corporation will relocate from Altamonte Springs to Downtown Orlando in December, Hurn added. The firm is a wholly-owned subsidiary of Old Florida National Bank, which is headquartered in Orlando.
More information can be found at www.504Experts.com and www.504Blog.com.
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