Summit Wealth Management Inc. Selected for State-Funded Economic Growth Program

ORLANDO – Summit Wealth Management Inc.,(www.mysummitwealth.com) a nationwide 30-year-old investment advisory firm, has been selected to participate in GrowFL, a state-financed program that helps Florida-based second-stage companies achieve their potential.

GrowFL, part of the Florida Economic Gardening Institute, was created in 2009 by the Florida Legislature and is based at the University of Central Florida in Orlando. Dr. Tom O’Neal, associate vice president of the University of Central Florida’s Office of Research and Commercialization, serves as the institute’s executive director.

O’Neal said Summit Wealth’s consistent returns and Chief Executive Officer Mitch Levin’s solid leadership make it an ideal candidate for the GrowFL program.

“Companies like Summit Wealth have great potential, but sometimes need a little assistance to reach the next level,” O’Neal said,

A federally-registered investment advisory firm with nearly 50 employees in six offices across the nation, Summit Wealth “clarifies investing,” according to Levin, managing director of the company’s Orlando and Naples offices.

“Our advisory team ensures that each client’s needs and objectives are met, while providing the peace of mind they need to sleep well and plan confidently,” said Levin, a member of the Wealth Preservation Institute who is certified in wealth preservation planning and asset protection planning.

GrowFL will provide Summit Wealth with support through a number of free services, including access to market research and technology, strategy analysis, database research and website optimization.

“We’re excited to work with the GrowFL team and eager to derive support, data and input from their excellent members to help us more effectively know and understand our market and our competitors, as well as our target clients,” Levin said. “Thus far, the first GrowFL engagement has provided tremendous research and insight, delivered in a highly organized, well coordinated manner.”

About Summit Wealth Management: A federally-registered investment advisory firm, Summit Wealth Management empowers investors by delivering solid, safely managed growth and trusted advice. Summit’s advisory team delivers clients the greatest probability of goal achievement – consistently excellent returns with appropriate risks. Visit www.mysummitwealth.com.

About the Florida Economic Gardening Institute: The Florida Economic Gardening Institute was created by the 2009 Florida Legislature as the Economic Gardening Technical Assistance Program to stimulate investment in Florida’s economy by providing technical assistance for expanding businesses in the state. Qualified companies must be engaged in the following sectors to receive no-cost technical assistance: Manufacturing; Finance & Insurance Services; Wholesale Trade; Information Industries; Professional, Scientific & Technical Services; Management Services; and, Administrative & Support Services. Additional information is available at www.GrowFL.com.

For more information about this release, please contact: Mitch Levin, CEO Summit Wealth Management, 407-656-2252 levin.mitch@gmail.com; Linda Nelson, Outreach Serivces GrowFL, 407-882-0046 Linda@GrowFl.com; Charlene Hager-Van Dyke, Larry Vershel Communications, 407-644-4142, chagervandyke@yahoo.com

New University Club of Orlando President Has Eyes on Growth, Expansion, Emphasis on Younger Members

ORLANDO, Fla. --- Jennifer Nichols Kennedy, who was recently named president of The University Club of Orlando, said the area’s oldest and largest social club for business leaders and corporate executives added more than 100 new members in 2010 and she plans to focus on growth, expansion and adding younger members during her one year term.

Kennedy, a partner at TJNG Interior Designs in Maitland, said she has been working with the U committee to explore ways The University Club can expand long range.

“We have looked at several options and we think if the market is right, an expansion of the facility is possible within the next two to five years,” Kennedy said.

Expansion options include selling or tearing down the club’s existing site on the corner of Central Blvd and Rosalind Ave. across from the Orlando Public Library and moving to a new location or redeveloping the choice downtown site.

“Our successful campaign to grow our membership has resulted in a whole new vitality and can do attitude at the club,” Kennedy explained.

“We expect our membership will continue to grow and we have a strong need to expand our facilities,” she said.
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For more information about this press release, contact: Jennifer Nichols Kennedy, President, The University Club of Orlando, 407-425-2514, jkennedy@tjng.com; Susan Greene, General Manager, The University Club of Orlando 407-425-2514, gm@ucluborlando.com

Data Transfer Solutions Reports Revenues, Sales More Than Doubled in 2010

ORLANDO, Fla. --- Data Transfer Solutions, LLC (DTS), based in Orlando’s Avalon Park, reported sales and revenues in 2010 doubled from 2009.

A.M. “Trey” Fragala III, AICP, PMP, chief operating officer at Data Transfer Solutions, said the firm reported $5 million in new sales in 2009. Sales in 2010 topped $11 million.

Among the larger projects from 2010, DTS developed a statewide environmental management system for the Tennessee Department of Transportation, conducted a 4,800 mile assessment of the city’s pavement and other related assets for the City of Charlotte, NC and deployed a statewide cultural resource and archeological management system for the State of Utah.

Moreover in 2010, DTS outfitted a second generation of its mobile asset collection (MAC) vehicle with the latest in digital video, GPS and pavement data collection equipment. The MAC 2.0 vehicle traveled from one end of the country to the other, performing projects in Oregon, Washington, North Carolina and Florida. Currently the van is collecting data in San Antonio, Texas and will then move to Albuquerque, New Mexico.

Data Transfer Solutions now has eight offices including Orlando, San Antonio, Dallas, Nashville, Fort Collins, Colo., Washington D.C., Portland, Ore., as well as Zurich, Switzerland.

Fragala said due to some recent project awards in the southwest, the company may be looking to open another regional office later in the year in either New Mexico or Arizona.

DTS provides asset management, Geographic Information Systems (GIS), transportation planning/engineering, web design, database/software applications, and video and multi media production services to local governments and regional and state agencies throughout the U.S.
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For more information, contact: A. M. “Trey” Fragala, III, AICP, PMP, Chief Operating Officer, Data Transfer Solutions, 3680 Avalon Park East Blvd., Suite 200, Orlando, FL 32828; 407-382-5222; tfragala@edats.com

Membership Growth at University Club of Orlando revives plans to expand historic Central Blvd. facility

ORLANDO - Membership at the University Club of Orlando has increased by nearly 30 percent over the past year and University Club officials are now revisiting plans to either expand the current, historic 50-year-old facility on Central Blvd. at Rosalind Avenue in downtown Orlando, or partner with a developer to build a new facility.

Orlando attorney Greg McNeill, president of the University Club of Orlando, said expansion plans were put on hold two years ago by the real estate downturn.

McNeill said changes to the club’s once restrictive membership policy have been instrumental in changing the perception of the Club with minority, women and younger candidates and that has made all the difference.

“The University Club of Orlando has accepted 115 new members since last July,” said McNeill.

“That’s almost 30 percent membership growth in one year – a phenomenal growth rate for a private club,” he said. “We have the best location in downtown Orlando and are again looking at our long term opportunities.”

McNeill recently appointed an advisory board to focus on increasing membership among women and minority candidates, as well as future executives. “Diversity among our membership will keep the club prosperous and vibrant into the 21st century,” he said.

For more information contact:
Greg McNeill, President, University Club of Orlando 407-418-6309 Gregory.McNeill@lowndes-law.com

Mercantile Capital Corporation Eyes Major Lending Growth in First Quarter, Projects Loans Valued at over $26 Million

ALTAMONTE SPRINGS - Mercantile Capital Corporation reports it closed on five commercial property loans worth more than $11.6 million in total project costs in January. The firm, which ranks as one of the largest providers of U.S. Small Business Administration (SBA) 504 loans in the nation, predicts it will see a record first quarter this year with loans worth more than $26 million in total project costs.

Christopher G. Hurn, president and chief executive officer of Mercantile Capital Corporation, said the firm closed on only three commercial property loans during the first quarter of 2009.

The firm finished the year with 35 closed loans worth over $78.1 million in total project costs.

This year, Hurn said, Mercantile Commercial should close on loans that represent more than $103 million in total projects.

Hurn said Mercantile Capital’s largest project in January was $4.7 million for the construction and improvements of an existing convenience store in Las Vegas.

For more information about this press release, contact: G. Geoffrey Longstaff, Chairman, Mercantile Capital Corporation 407-786-5040; Christopher G. Hurn, CEO, Mercantile Capital Corporation, 407-786-5040

Lennar in Acquisition Mode, Eyes Big Growth in New Home Sales in Orlando Area in 2010

ORLANDO, Fla. --- Lennar, which ranks as Florida’s largest home builder, plans to open six new communities in the Orlando region by mid-year and hopes to acquire more home sites in the area.

Mark Metheny, president of Lennar’s Central Florida Division, (mark.metheny@lennar.com) said Lennar has sold more than 400 new homes in the Orlando area this year and expects to eclipse that in 2010.

“We expect big growth in new home sales in the Orlando region in 2010,” Metheny said. “We are actively seeking new acquisitions of well-situated home sites and neighborhood development sites,” he said.

Lennar builds new single-family homes and town homes priced from the $100s to the $400s in 17 Orlando-area communities.

Metheny has built a strong team in the Orlando region. He relocated Lennar’s Orlando-area headquarters from Maitland Center to Clermont and installed David Parker (david.parker@lennar.com) as vice president of sales and marketing for the region.

“David Parker has more than 10 years of exceptionally solid experience,” Metheny said. “He is an innovative and highly disciplined executive and he is playing an increasingly important role in our growth in the Orlando area.”

Metheny also promoted Anthony DeSimone (anthony.desimone@lennar.com) to vice president of construction in Orlando. DeSimone has more than 15 years of home building experience.

Jim Bavouset, (jim.bavouset@lennar.com) a longtime regional acquisition and development executive was appointed to assist in Lennar’s site selection process.

In addition, Lennar is seeking a full time, director of acquisitions for the Orlando market, a senior level executive with strong ties to the Orlando market.

Lennar expects to hire as many as 12 new sales associates over the next nine months to meet growing demand.

“We anticipate substantial growth in the Orlando area in 2010 as the economy improves,” Metheny said. “We will probably see the most growth in newly acquired communities, as well as our active adult communities, as the recession delayed retirement for many Americans is creating substantial pent-up demand for new retirement homes in Florida,” he explained.

But it’s not just retirement-aged adults that want to move to Florida, or move up to better homes.

“We expect to see some improvement in the job market in 2010, which will spur improvement in new home sales across the board,” Metheny said.

For more information contact:
Mark Metheny, Lennar Division President-Central Florida, 727-479-1700
Jassy Friddle, Marketing Manager Lennar, 888-317-7489
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Lennar eyes Substantial Growth in Active Adult Communities in Brevard, Lake Counties

Lennar eyes Substantial Growth in Active Adult Communities in Brevard, Lake Counties

CLEMONT, Fla. - Lennar’s Central Florida Division, which builds new single-family homes and town homes in the Tampa Bay, Orlando and Space Coast regions, foresees substantial growth in active adult communities in Florida.

“As the recession begins to improve, pent up demand for retirement homes will speed recovery in the active adult market,” said Mark Metheny, president of Lennar’s Central Florida Division.
Metheny said Lennar is planning new phases in active adult communities in Melbourne and in Clermont.

In the next phase at Heritage Isle in Melbourne 60 new single-family homes priced from the $100s to over $300,000 are planned along with 40 villas priced in the $150s and 64 two and three-bedroom condominiums priced from the $130s, Metheny said.

At Heritage Hills in Clermont, 80 new villa homes are planned to start construction before the end of the year. Two and three bedroom villa homes at Heritage Hills are priced from the $130s.
“Metheny said active adult buyers look for quality construction, zero-maintenance homes and affordable pricing in communities that offer a wide range of activities.

For more information, contact:
Mark Metheny, Lennar Division President-Central Florida, 888-317-7489
Robert Jesski, Lennar Vice President of Sales-Central Florida, 888-317-7489
David Parker, VP Sales & Marketing, Lennar-Central Florida 877 205-1102
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142,lvershelco@aol.com

Expansion of SBA’s latest initiative could have dramatic impact on Small Businesses, National Economy, says Chris Hurn

Expansion of SBA’s latest initiative could have dramatic impact on Small Businesses, National Economy, says Chris Hurn

ALTAMONTE SPRINGS, Fla. - The U.S. Small Business Administration’s helpful decision recently to extend its SBA-504 lending program ---which helps small business owners who want to acquire or develop their own facilities---doesn’t go far enough, says Chris Hurn, chief executive officer of Mercantile Capital Corporation in Altamonte Springs.

Hurn’s analysis, which he published at www.504Experts.com, is getting some major media traction, including a lengthy interview in the New York Times.

The most recent SBA initiative---announced last February and put into effect recently---extends the SBA’s 504 lending program to include refinancing.

Hurn gives the SBA credit for extending the 504 loan program. But the SBA initiative requires businesses to use new funds for expansion purposes only.

“That’s the kink,” Hurn said. “How many small businesses are in an expansion mode in this economy?” he asked.

Billions of dollars worth of potential small business loans go unfunded every year, Hurn said.

“That money needs to be in the marketplace to have any positive effect on small business growth. The $255 million,” Hurn said.

The numbers back Hurn’s proposition: SBA 504 loans are down 41.5 percent this fiscal year and the total dollar amount funded has dropped 42.5 percent from last year.

“The SBA is moving in the right direction, but the positive impact on small business growth in the U.S. would be explosive if SBA would lift its restriction to small business expansion and open the door to true refinancing,” Hurn added.

For more information, contact:
Chris Hurn, Chief Executive Officer Mercantile Capital Corporation, 407-786-5040
Shannon Marks, President, Mercantile Capital Corporation, 407-786-5040
Larry Vershel, Larry Vershel Communications 407-644-4142

Entrust Administrative Services Posts Record Growth In March

Entrust Administrative Services Posts Record Growth In March

LAKE MARY, Fla. - Entrust Administrative Services, Inc., which administers more than 2,000 self-directed retirement funds worth more than $200 million from offices in Lake Mary, Boca Raton and Jacksonville, reported record growth in March.

Glen Mather, president of Entrust Administrative Services, said the company enrolled 61 new accounts in March worth an estimated $5 million.

Since Jan. 1, Entrust Administrative Services has enrolled 115 new accounts with an estimated value of $11 million.

“March ranks as our third best month since we opened our doors in 2003,” Mather said.

“Given current economic conditions, more people are taking control of their retirement accounts and making their own their investments,” Mather said. “We see this as an indication that American citizens are beginning to play a more important role in the direction of economic recovery,” Mather said.

For more information contact:

Glen Mather, President Entrust Administrative Services, Inc. 407-367-3472 gmather@entrustfl.com;

Larry Vershel, Larry Vershel Communications 407-644-4142 lvershelco@aol.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