The Official Blog of the SBA 504 Experts

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IBERIABANK and Mercantile: Brewing the Perfect Partnership

Islamorada Brewing Company, brewing success with Mercantile Capital Corporation and IBERIABANK

Since our merger with IBERIABANK a year and a half ago, we’ve closed a total of 15 SBA 504 loans together. One of those loans was a $3.96 million project for Islamorada Beer Company, originated by Scott McCleneghen, Commercial Group Manager in IBERIABANK’s Southeast Florida office. Since Islamorada’s brand-spanking-new production brewery is located in Fort Pierce — a mere two hours from our Mercantile headquarters — we decided to stop by and get a first-hand look at the new facility.

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Ten Thousand Jobs for Small Businesses

10,000 jobs

Political candidates like to talk about creating jobs. We like that kind of talk, but we also like actually creating jobs. We’re really excited to tell you that we’ve now had a hand in creating and retaining more than 10,000 jobs (10,220 to be exact) for small businesses across these United States.

One of the reasons we’re so passionate about the SBA 504 loan program is that job creation/retention is a main component. It’s designed to help business owners create jobs though commercial real estate ownership, and that’s something that really makes what we do worthwhile.  

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Q2 Update: Breakdown of the 16 loans we financed

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In the second quarter of this year, we closed 16 loans worth $58 million in total project costs. Below are summaries of each loan and project, and we’re posting this here for a couple reasons. First, we want you to know that even though we specialize in just one type of loan, we’re able to fund an extraordinarily broad range of businesses and projects. Below you’ll see a car wash, a barbeque restaurant, an indoor hockey complex, and a beauty salon among others.

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A record-breaking Q1 and a big thank you…

Mercantile Capital Corporation had a record-breaking quarter with $88 million in SBA 504 Loans.

We just had our best quarter ever. Technically. You see, 2012 was a year for the record books, but with an asterisk. That’s when the SBA 504 refinance program was in effect (the first go ‘round), and the number of refi loans we were able to do really goosed our lending totals that year. So not counting 2012, Q1 2016 saw us reach our highest loan volume total in the history of Mercantile: more than $88 million in total project costs.

Thank You and Thank You

We may not say it as often as we should, but we think it all the time and we know it’s the truth: it wouldn’t be possible for us to help very many small business owners without the help of our network of referral partners.

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Smarter Construction Loans

Smarter Construction Loans by the SBA 504 Loan Experts

Fact: Half our business this year will be SBA 504 construction loans.

It can be difficult to get construction financing, but we’re here to help. Since 2013, construction projects have accounted for about 60 percent of our overall loan volume, and all signs point to the trend continuing. We’re able to do construction loans when other lenders would rather not because of four basic reasons: ability, experience, longevity, and geography (we cover all 50 states, and then some). You can read more about why many consider us the SBA 504 construction loan experts on our website here.

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