Mercantile Capital Corporation Provides Commercial Real Estate Loan in Orlando Worth $476,000

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 who want to acquire or develop their own facilities, closed a commercial loan for Suhaag Garden, Inc. recently for $476,000 in total project costs.

Suhaag Garden, Inc. is a full service event décor and design company specializing in South Asian weddings and events.

“With the help of MCC, we were able to secure an SBA 504 loan for our new property and are excited to serve the Orlando community on a full-time basis with a brand new state-of-the-art showroom,” said owner, Jilna Jasani.

“We especially want to thank Monica and Zenia from MCC, who guided us through the whole process and answered all our questions in a timely manner,” she added.

The SmartChoice Commercial Loan Program helps owners of small to mid-sized businesses, like Suhaag Garden, Inc., have an opportunity to create wealth and financial freedom. Their specialization in SmartChoice Commercial Loans, also known as SBA 504 loans, allows borrowers, like Jigar and Jilna Jasani, to own their commercial property with the highest cash-on-cash return financing available, without tying up their precious capital, so they can grow even faster.

For more information, visit www.TheSmartChoiceLoan.com and www.504Blog.com.

Mercantile Capital Corporation closes on loans in May to finance commercial real estate projects valued at more than $11.6 million

ALTAMONTE SPRINGS, Fla. --- Mercantile Capital Corporation, a wholly owned subsidiary of Old Florida National Bank, closed on loans to finance commercial real estate projects valued at more than $11.6 million in May.

Geof Longstaff, chairman of Mercantile Capital Corporation, said the firm’s largest single loan financed the construction of a $6.5 million multi-specialist medical office facility in Newport Beach, Calif.

Mercantile Capital Corporation ranks as 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.

For information visit www.TheSmartChoiceLoan.com or www.504Experts.com and post: www.504blog.com.

Mercantile Capital Corporation Best First Quarter Ever is Lead-in to Projected Major Loans in May

ALTAMONTE SPRINGS, Fla. --- Mercantile Capital Corporation, which earlier reported its best first quarter ever in 2011 with 15 commercial property loans to finance projects that total more than $54.8 million — a 44.6 percent increase over the same period in 2010 — projects record or near record transactions scheduled for May.

Chris Hurn, chief executive officer of Mercantile Capital Corporation said seven commercial loans scheduled to close in May will finance real estate projects valued at more than $11.7 million in three states. Mercantile Capital Corporation closed two loans in April for projects that total more than $1.7 million in Massachusetts and Illinois.

Mercantile Capital Corporation, a wholly-owned subsidiary of Old Florida National Bank, is one of the nation’s leading providers of U.S. Small Business Administration (SBA) loans for small business owners who want to acquire or develop their own facilities. Additional information about Mercantile can be found at www.504Experts.com and www.504blog.com.

U.S. Economic Stimulus Program Contains Promising Elements,But Not Enough, Lender Says

U.S. Economic Stimulus Program Contains Promising Elements,But Not Enough, Lender Says

ALTAMONTE SPRINGS, Fla. - The U.S. Economic Stimulus program has many good elements that will help small businesses but some miss the point, according to Christopher Hurn, chief executive officer of one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners.

Hurn, CEO of Mercantile Capital Corporation based in Altamonte Springs and a popular speaker at banking conferences and seminars who posts his own blog at http://www.504blog.com/, said the U.S. Economic Stimulus program deserves kudos for promising to buy up to $15 billion worth of guaranteed SBA loans.

Hurn said the stimulus package also eliminates all SBA fees on both SBA 504 loans and the agency’s SBA 7(a) loan program at a cost of $245 million.

In addition, the administration has announced it will waive capital gains taxes for small business owners who hold or have held their shares for a minimum of five years.
“Those are positive signs for small business owners,” Hurn said.

“The Treasury buys in the secondary market will add liquidity to the banking environment and thaw out the secondary market and commercial lending---small business lending,” Hurn explained.

But, Hurn cautioned, temporarily eliminating fees on SBA loans won’t have much effect on economic stimulation or job growth.

“Fee elimination, even on a temporary basis, doesn’t impact small business owners that much because these aren’t out-of-pocket fees. These fees are actually financed in the loans, so even though it sounds good rhetorically, I don’t know that it’s going to have much of a stimulative effect,” Hurn said.

Hurn said the stimulus program fails in some other regards as well.

“We haven’t addressed any taxation at all,” he said. “There are no new higher tax credits for 2009, which I think would help grow the job base if properly incentivized. There is no mention of a payroll tax holiday for 2009. That would put more dollars in employees’ and employers’ pockets, and these are the kinds of elements that would have an immediate effect and jump start the economy,” Hurn said.

For more information, please contact
Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040
Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040
Shannon D. Marks, COO, Mercantile Capital Corporation, 407-786-5040
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142