THE OFFICIAL BLOG of the SBA 504 EXPERTS

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Mercantile & IBERIABANK Close First Loan Together

Mercantile & IBERIABANK Close First Loan Together

On May 27th, we closed our first SBA 504 loan in conjunction with IBERIABANK since our merger in late March. We provided financing for the acquisition and expansion of retail space for a high-end fashion boutique called Planet Bardot, located in the Knox Park area of Dallas, Texas. The $7.65 million project allows our client to purchase and renovate an existing 5,100 SF multi-tenant retail center. An additional 3,900 SF of retail space will be constructed which will allow the store to expand its footprint nearly 600% and lease the remaining space to third-party tenants. Planet Bardot will occupy about 5,000 SF (56%) of the property’s leasable space upon completion. The loan closed on May 27th and the construction period is estimated to be 9–10 months.

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Interims & Construction: Third-Party Lenders

SBA 504 Interim/Bridge Loans

The following article (written by us) appeared in the February issue of The CPR Report (published by Government Loan Solutions). Learn more about this monthly newsletter and read past issues in The CPR Report archives.

Interims & Construction: Third-Party Lenders

SBA 504 loans are designed to lower the risk for small business borrowers who want to buy, build, or renovate commercial real estate. Ten percent of the total project cost as equity is pretty tough to beat. But these loans also lower the risk for banks, especially when banks work with third-party lenders to get these loans closed.

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SBA 504 Loans and Mobilegeddon

SBA 504 Loans & Mobilegeddon

If you’re interested at all in web traffic and search engine optimization (SEO) — and you should be, at least a little — you heard a thing or two about “mobilegeddon” in the weeks leading up to last Tuesday. That’s the day when Google rolled out a change to its search algorithm that favors mobile-friendly sites. When we first read about the change, to be totally transparent, we panicked a little bit. Neither 504experts.com nor 504blog.com was designed with mobile in mind, and we worried that our web search traffic would take a hit. After reading more about Google’s change and reviewing our traffic data, we calmed down and got less scared and we think you should do the same. Here’s why…

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#tbt Construction Videos

#tbt

We’ve said it before and we’ll say it again: we do a lot of construction loans for small business owners. In fact, more than half our business involves construction these days (lots of it ground-up), and that’s been the case for the last several years. The reason we’ve done so much of it is that we’re so good at it. That sounds pretty cocky, but we’re not shy about bragging on our people. We believe our construction management team is second-to-none, and you can check with our clients to see if it’s true. We’re really proud of the work they do and we’re glad to be able to offer such a high level of expertise to small business owners all over the country.

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Pro Tip: Get Pre-Approved

Save Time: SBA 504 Pre-Approval

So let’s say you’re a small business owner who’s interested in owning commercial real estate for your business. Maybe you’ve found the right property and all you need is a loan to buy it. Or maybe you’re just starting to think and look and plan. Maybe you want to start from scratch and you need a construction loan to make your vision a reality. Wherever you are in this process, it’s never too early to explore your financing options.

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