504 Loan Blog: Curated by Mercantile Capital Corporation

  • more-shares
    • Save on Delicious
#tbt Construction Videos
  • Thursday, February 26th, 2015 at 1:16 pm
  • 2 Comments

#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.

Read More »

  • more-shares
    • Save on Delicious
Pro Tip: Get Pre-Approved
  • Friday, February 20th, 2015 at 11:35 am
  • 0 Comments

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.

Read More »

  • more-shares
    • Save on Delicious
SBA 504 Update | February 2015
  • Friday, February 13th, 2015 at 1:11 pm
  • 2 Comments

SBA 504 Update | Feb 2015

About SBA 504 Loans

> Up to 90% loan-to-cost financing for owner-occupied commercial real estate
> Office, industrial, medical, flex, daycare, retail, self-storage, and flagged hotel
> Total project costs up to $15 million
> Less impact on cash flow means greater flexibility for property owners

SBA 504 loans have a three-part structure, which is ultimately beneficial for both our small business clients and for third-party lenders we work with. A typical project has a 50-40-10 structure, and we’re dealing with the total project cost which includes the purchase price of land and/or existing building(s), construction costs, soft costs, closing costs, and equipment. This means our clients’ out-of-pocket costs are kept to a bare minimum.

Read More »

  • more-shares
    • Save on Delicious
SBA 504 is the Smart Choice
  • Thursday, February 5th, 2015 at 4:11 pm
  • 1 Comment

SBA 504 is the Smart Choice

We sometimes use the word “SmartChoice” to talk about SBA 504 loans. Maybe you’ve seen it in an email from us, or on our website. Our smartphone app is even called the SmartChoice Commercial Loan Calculator. Well, we’ve come to a decision that calling SBA 504 loans something different is confusing at best and we’re going to use the term SmartChoice a lot less going forward. Here’s some backstory on the matter…

Read More »

  • more-shares
    • Save on Delicious
Two Billion or Bust!
  • Thursday, January 29th, 2015 at 12:10 pm
  • 4 Comments

$2 Billion or Bust

As of 12/31/14, we’ve closed loans worth $1.56 billion in total project costs. It’s taken almost 13 years and a lot of hard work by our entire team to get this far. Now we’re setting our sights on $2 billion, and we’re aiming to do it in just two years. Maybe it’s New Year optimism, maybe it’s excitement over our merger with IBERIABANK, maybe we’re just a little nuts (likely), but we’re setting a goal of getting to $2 billion in total project costs financed by the end of 2016…and we’ll need your help.

Read More »