Mercantile Capital Corporation Reports Six Commercial Loans in March to Finance Projects Valued at $31.5 Million

ORLANDO, Fla. --- Mercantile Capital Corporation, which specializes in U.S. Small Business Administration (SBA) 504 loans to small business owners who want to acquire, develop, or refinance their own facilities, reports it closed six commercial loans in March to finance projects valued at more than $31.5 million.

Geof Longstaff, chairman of Mercantile Capital Corporation, said the firm’s largest single loan in March helped finance the $14.5 million acquisition of a Holiday Inn & Suites at Salt Lake City International Airport.

Chris Hurn, chief executive officer of Mercantile, said March’s loan volume helped push Mercantile Capital’s first quarter loan volume to the highest in the company’s nine-year history: 24 loans for $81.9 million in total project costs. “That’s a 68.4 percent increase over this time last year, and we expect a brisk pace for the remainder of this calendar year.”