Mercantile Capital Corporation Will Mark Record Year of Commercial Loans, move to Downtown Orlando in December

Altamonte Springs, Fla. --- Mercantile Capital Corporation in Altamonte Springs will mark a record year of commercial loan transactions this year and will be in new offices in the Old Florida National Bank building at 60 N. Court St. in downtown Orlando this December.

The firm, which ranks as one of the largest and most active providers of U.S. Small Business Administration (SBA) 504 loans to small business owners, merged with Winter Park-based Old Florida National Bank earlier this year and plans to relocate to the historic downtown Orlando building before Christmas.

Geof Longstaff, chairman of Mercantile Capital Corporation, said he projects the firm will end 2011 with over 60 closed loans to fund projects in more than 15 states, totaling more than $150 million.

That’s a new record for the eight-year-old company.

Longstaff said he’s sorry to leave Mercantile Capital’s Altamonte Springs headquarters but the merger with Old Florida National Bank opens big, new doors for the firm’s mission: local economic growth and new job creation.

“Job creation is one of the principal aims of the SBA 504 loan program,” Longstaff said.

Chris Hurn, Mercantile’s chief executive officer, said new SBA 504 lending rules are already stimulating economic activity and will likely generate another record year in 2012.

“The SBA 504 program is certainly the smart choice and often the only choice for small business owners who see an opportunity to grow,” Hurn said.

Last year Mercantile Capital Corporation closed 51 loans to fund projects worth more than $140.6 million.