THE OFFICIAL BLOG of the SBA 504 EXPERTS

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Our loan volume is the largest it’s ever been

Mercantile Capital Corporation has loans on its books worth over $82 million.

In the past we’ve always reported on the number of loans we’ve closed and the total project costs we’ve financed. But today we want to let you know about a metric we haven’t publicized before, and how it confirms our place as a meaningful contributor to the 504 industry.

As of the end of the second quarter, we have 56 active loans on our books worth just over $82 million. That means we have 56 transactions on our books in different stages of the 504 loan process. Not only is this the largest this number has ever been, it also represents a tremendous growth in our loan volume.

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Can Any Lender Do a 504 Loan?

can vs should_blog

Here’s the truth about SBA 504 loans: any lender can do one.

There’s nothing magical or mystical about it; no special club we belong to that enables us to provide 504 loans. But before you run out and grab the first banker you see and demand a 504 loan, a word of caution: there’s a difference between can and should.

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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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