504 Loan Blog: Curated by Mercantile Capital Corporation
On Monday, September 27th, President Obama signed into law the bill known as HR 5297, or the Small Business Jobs and Credit Act. I’ve been reading a lot of commentaries about what is and isn’t included in this new law, and there is still some ambiguity about parts of this legislation. I’ve read the text Read More »
I’ve been waiting and watching most of the summer, and I’m excited I can finally announce that the Small Business Jobs and Credit Act (HR 5297) has passed both the House and Senate. The bill now goes to President Obama for his signature, and I fully expect this will become law in a matter of Read More »
I’ve been keeping my eyes and ears open for news about HR 5297 now that Congress is back in session, and have received word that the bill made it through cloture today. The cloture vote passed 61 to 37. This means there’s less than 30 hours left to finish debating it before the final bill Read More »
In early August I announced that the 20-year, fixed interest rate for SBA 504 loans (aka SmartChoice Commercial Loans) had fallen below 5.00% for only the second time in history. Well, I’ve got even better news this month . . . The 20-year, fixed interest rate on all SBA 504 loan projects has now fallen Read More »
A little over one week ago, we announced what I called “the most exciting news I’ve had to report in years” — the merger of Mercantile Capital Corporation (MCC) with Old Florida National Bank. Overwhelmingly, the responses we’ve received have been tremendously positive. We’re extremely appreciative of all the well-wishes and the enthusiasm kindly shown Read More »
Bob Coleman is a friend of mine who tracks and reports on SBA and small business news on his website (ColemanPublishing.com) as well as in a newsletter called the Coleman Report. He delivered a keynote address earlier this week at the America East Conference for SBA Lenders, and asked if I’d help. Of course, I Read More »
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