THE OFFICIAL BLOG of the SBA 504 EXPERTS

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2015 By the Numbers

2015 by the numbers

Even though we’re more than halfway through January, we’d still like to wish you a Happy New Year! We’re sure 2016 is going to be a great year for SBA 504 lending, but before we talk about what’s to come, let’s see where we’ve been.

Lots and Lots of Construction

For the third year in a row, about 60% of our loans involved construction, and it’s clear that this has become more than just a trend for us — it’s really who we are and what we do. We do a lot of construction because we can do it well and we like to do it. If you’re in need of financing for a 504-eligible construction project, simply respond to this email and tell us about it.

One-Stop Shop

Historically, our specialty has been providing interim second mortgages (bridge loans) in order to help banks, CDCs, and other lenders make SBA 504 loans more available to small business owners. But we’ve grown into a one-stop shop that can provide both the first and second mortgages for select 504-eligible projects. We did 16 such projects in 2015, having been assisted by becoming a wholly-owned subsidiary of IBERIABANK. In the fourth quarter alone we closed five of those projects with IBERIABANK.

2015 By the Numbers by Mercantile Capital Corporation

504 Refi in 2016

In 2015 we closed 54 loans worth more than $142 million in total project costs, and it was our best year since 2012 (affectionately referred to around the office as “refi-palooza”). Before 2015 came to a close, Congress passed a bill permanently reinstating the SBA 504 Refinance Program, and we couldn’t be more excited. We believe it’s going to be a huge help to many more small business owners than it was the first go ‘round, but we’ll have to wait a little while to see for sure. We’ve been told that it’ll take 3-5 months to issue the regulations and forms needed to get the program going again. Fear not, however — we’ll let you know as soon as we hear anything about 504 Refi (part deux).

As always, we’re here to help. If you have questions about SBA 504 loans, or commercial real estate financing in general, or if you’d like to refer someone we should work with, call or email any time.

We look forward to hearing from you! And Happy New Year!

– Your 504 Experts

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Green But Not Grinchy

The environmentally- friendly story behind being able to do multiple SBA 504 Loans

We told you in a previous message that we closed a loan in September for XL Sports World. In fact, depending on how long you’ve been getting messages from us, we’ve told you that several different times. The loan we closed for XL in this year was their fourth SBA 504 loan with us. If you know anything about the 504 program, you may think this a little strange. And if you don’t know much about the 504 program, take it from us that this four loans thing is a little strange. But there’s an environmentally-friendly story behind the business and the loans we’d like to share with you.

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600 loans and counting…

Mercantile Capital Corporation has closed 600 loans in its history.

600 is a really big number to us.

In the sports world, 600 is a pretty significant milestone. Eight major league baseball players have hit 600 home runs (some with asterisks). Eighteen hockey players have scored 600 goals. The longest NASCAR race is 600 miles. The closest anyone has come to 600 passing touchdowns in the NFL is Peyton Manning with 539, and Norm Van Brocklin almost threw for 600 yards (554) in a single game back in 1951. Six hundred is a big number, and we’ve now cleared that milestone in terms of loans closed.  

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The Nationwide SBA 504 Loan Experts.

The Nationwide SBA 504 Experts_blog

12 years doing just one thing.

When we started back in 2003, we set out to be one of the first (if not the first) to specialize in SBA 504 loans. We wanted to help small business owners build wealth, create jobs, and grow their businesses via commercial real estate ownership, and we knew then that the SBA 504 loan program was the best way to make that happen. The same is true today, and we haven’t wavered from our mission. Twelve years in, we’ve had the opportunity to work with hundreds of banks, lenders, and CDCs nationwide. When your small business clients work with us, they get the benefit of our longevity and expertise.

All over the map.

While we’ve been laser-focused on the type of loans we provide, we’ve worked with small business owners from many different industries nationwide. We’re able to provide SBA 504 loans in any state in the Union, and then some. Our current tally (as of 9/30/2015) is 593 loans in 40 states, Puerto Rico, and D.C. Those loans are worth more than $1.65 billion in total project costs and have helped to create and retain 9,311 jobs.

The SBA 504 Experts have closed loans in 40 of the 50 States, Puerto Rico and DC.

Our level of experience, breadth of knowledge, and deep relationships nationwide allow us to provide unparalleled service for small business owners wherever they may be located.

If you have questions about SBA 504 eligibility, why your clients should consider SBA 504 loans, or our 12-year track record, call us today. We’re here to help.

– Your 504 Experts

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Q3 2015 & Our Second Four-peat

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It’s hard to believe, but 75% of 2015 is history. Halloween is almost here, which means Christmas isn’t far behind, and Thanksgiving will fall sometime in between. Next year will probably get here much sooner than most of us would like, but it’s not here yet, so let’s talk about what’s going on now.

Check this out: we recently closed a fourth loan for XL Sports World, which makes them our second* four-peat client. Since 2011, we’ve closed loans for XL in Orlando (FL), Saco (ME), and Midlothian (VA). This fourth loan was for the purchase of an existing 56,208 SF indoor multi-sport facility in Apex, NC. We provided both the first and second mortgages for this $4.51 million project, and Florida First Capital Corporation was the Certified Development Company (CDC). It’s not every day that a lender is able to provide four SBA 504 loans for the same small business owner, but we’ve proven that it’s not impossible (and it’s a pretty smart move on the part of the business owner). 

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