For the third time in my career, I’ve been honored as the SBA Financial Services Champion of the Year (2006, 2010, and now 2013), and this kind of recognition never gets old. Of course it feels good to win awards and to get the attention that goes along with it, but it also gives me a chance to brag on the people I work with — the people who make up the Mercantile Family, as we like to call it. These people work terribly hard, and I’m terribly proud of the blood, sweat, and tears they’ve all poured into this wonderful company.

I accepted the award at a luncheon reception yesterday, and my staff recorded my remarks. If you have a few minutes to spare, I’ve posted it below. Be warned: if you suffer from motion sickness, you may just want to shut your eyes and listen — the footage is a little shaky, thanks to the camera operator (Trey will be known as “Shakes” the rest of this week, if not longer).

My comments on the story of Icarus were borrowed from Seth Godin’s book The Icarus Deception. I’d recommend it if you haven’t already read it. I also mentioned in the video that my book is still available on Amazon.com — that’s still true, and we’re just about finished with a new website for the book at www.TheEntrepreneursSecretBook.com. We haven’t made it public knowledge yet, so you’re the first to see it.

Let me know what you think about my video above and also about the book website by leaving a comment below.

Thanks for reading, watching, and sharing!

-Chris

Since the beginning of the year, I’ve been saying that we’re going to see a decrease in small business loans this year, likely in the 20 to 30 percent range. The primary reason for my gloomy outlook is that both the SBA 504 Refinance and FMLP programs expired last September. In my video blog on April 4th, I mentioned several changes that have been proposed by the SBA that might offset the potential decline this year, but something even better has gained momentum since then.

Senator Mary Landrieu has introduced a bill that will effectively repeal the expiration of the SBA 504 refinance provision, making it possible for small business owners to again refinance their commercial real estate with longer-term, below-market, fixed interest rates provided by the 504 program. It’s called the CREED Act, and it’s working its way through Congress with bipartisan support. This could be a very big deal for small business owners nationwide, and I’d like to ask for your support.

I’ve posted a list of frequently asked questions about the CREED Act here if you’d like to get more acquainted with the proposed legislation.

If you can spare 60 seconds, I’d like you to send an email to your representatives in Congress. Here’s something you can copy and paste (I’ll tell you where to paste it in just a second):

RE: Please Support the CREED Act (S.289/H.R.1240)

I’m writing to kindly ask for your support of the CREED Act that has been introduced by Sen. Mary Landrieu and Congresswoman Judy Chu. This legislation will reinstate a debt refinance program for small businesses that was allowed to expire last September, just as it was gaining momentum. It’s a budget-neutral program that will allow small business owners to create and retain jobs. Before its expiration last year, over 2,700 small business owners availed themselves of this opportunity, but only $2.5 billion of the $15 billion authorized for the program were used.

Given the fiscal challenges and high unemployment our nation is facing, the CREED Act is a sensible, budget-neutral (no-cost) measure that every member of Congress should support. It’s imperative that Congress enact this legislation to help small businesses continue providing jobs to grow our economy.

Please copy the above text and then go here to send an email to Congress. After you type your zip code in the box, you’ll be able to paste your text and then preview the email before sending. For even greater impact, there’s an option to send an actual letter for a small fee if you’re so inclined.

Again, this shouldn’t take more than 60 seconds to complete, and it’ll go a long way toward helping this bill become law. Especially if you share this with a few other folks — just send them a link to this blog so they can hound their representatives, too. The more noise we make, the better.

Thanks for reading and sharing, and thanks for you continued support of our nation’s small business owners.

Dedicated to Your Continued Success,

-Chris

One thing I love about my job is hearing the stories from small business owners all over the country. Last year, we helped 97 small business owners in 27 states purchase, construct, renovate, or refinance their commercial property. When you work with that many business owners, you’re bound to hear some wonderful stories about overcoming adversity, going the extra mile, and finding creative ways to solve problems.

I probably don’t need to tell you this, but being a small business owner (and working with small business owners in an advisory role) takes a considerable amount of thinking outside the box. In today’s post-recession economy, there’s a “new normal” that a lot of us are still trying to figure out. For those looking to start a new venture but not sure where to begin, franchising may be a really exciting option.

Franchising as a business model has seen steady growth since the Great Recession, and it’s great for the continuing lean economic environment. Aligning yourself with a proven business model that provides support for training, operations, marketing, and more can make it easy to get up-and-running in a relatively short time. If you or someone you know is interested in becoming a franchisee, go here to read my latest Huffington Post blog about the 15 do’s and don’ts of  starting a franchise. Since I work with franchisees here at Mercantile, and I’m also a franchisor/franchisee with my second business (Kennedy’s All-American Barber Club), I have a unique perspective on the process.

The other thing I’ll share with you today is that I keep hearing from business owners how difficult it is to secure financing from ordinary banks. Even banks that have money to lend continue to impose far too many and too stringent restrictions on their potential small business borrowers (in my opinion). But creative business owners are still finding ways to make it happen. Go here to read today’s FOX Business article about specialist lenders and credit unions that are giving small business owners the support and funding they need to grow and succeed (hint: Mercantile is one of them).

What are some creative ways you’ve made things happen for your business (or your clients’ businesses)? Tell me about it in the comments section below.

Dedicated to Your Continued Success,

-Chris

P.S. If you or someone you know is looking to purchase, construct, or renovate commercial real estate for a small business, contact me right away to find out how we can help. I can be reached at ChrisHurn@MercantileCC.com or 1-866-622-4504. Unlike those ordinary lenders who continue to make it tough for small business owners, we like to find creative ways to help our clients get the loans they need to grow their businesses. Call or email today to find out just how creative we can get (still, no churches or apartment buildings, though)…

P.P.S. If you’re looking for even more outside-the-box thinking, then you should pick up a copy of my book, The Entrepreneur’s Secret to Creating Wealth. In addition to being a step-by-step guide for generating real and lasting wealth in a small business, every chapter ends with one of those small business success stories I mentioned at the top of this blog post. Go here to get your copy from Amazon.com today!

For the past five years, our on-hold message has featured a welcome from Pat Summerall. If there’s anything that can make waiting on-hold tolerable, we figure it’s the legendary voice of Mr. Summerall. We were saddened to learn late yesterday of his passing, and I’d like to take a minute to remember this world-class broadcaster.

If you’re a sports fan of any kind, there’s very little chance you haven’t heard Pat’s voice. He worked 16 Superbowls (more than anyone else), 26 Masters Tournaments, and 21 U.S. Opens. He spent 10 years in the NFL as a placekicker before becoming an announcer and was the long-time on-air partner of John Madden, helping to anchor the latter’s excitable announcing (“BOOM!”).

He was more than just talented, though. In the last day, I’ve read numerous retellings of how good a guy Pat was. USA Today and Sports Illustrated both ran great articles about Pat if you’d like to read more about the legacy Pat leaves behind.

We’re grateful to Pat for taking the time to record a message for us back in 2008, and we’re going to honor him by retiring it. You can hear his message one last time if you call in before the end of the week — I doubt it’ll be pulled before the weekend. If you have any suggestions for our new on-hold message, I’m all ears. Leave a comment below or email me at ChrisHurn@MercantileCC.com to let me know what you think. (I’m not sure we can top the golden voice of Pat Summerall, but we’ll honor him by trying…)

Dedicated to Your Continued Success,

-Chris

Some of us here at Mercantile are pretty avid golf fans (yours truly included…and let me emphasize that I’m a fan…I wouldn’t call myself an avid golfer). The Masters golf tournament is this weekend, and I can’t wait to see what happens this year at Augusta National. Tony and Sean, two of our Senior Loan Officers, made a trip to Augusta back in 2009 (when Angel Cabrera won in a three-way sudden-death playoff) and I was very jealous. I’ve been twice to practice rounds, but can’t wait to go back…especially to watch an actual competition round.

The other day, I came across a Masters quiz put together by Doug Ferguson, a golf writer with the Associated Press, and I thought you might like to test your knowledge of this legendary golf tournament. There’s a “Front Nine” and a “Back Nine” with different point values for each question as well as a bonus question. You’ll find the answers at the bottom of this post so you can tally your score at the end. For the record, I got 34 points out of a possible 82 (Tony bested me with 39, believe it or not). Think you can do better? Post your score in the comments section and we’ll see who knows the most about The Masters (we even have some prizes to dole out). And don’t use Google to cheat!

FRONT NINE (3 points each)

1)  Who won the Masters by the most strokes?

a)  Raymond Floyd
b)  Tiger Woods
c)  Seve Ballesteros

2)  What previously occupied the land that was purchased to build Augusta National Golf Club?

a)  Fruitland Nurseries
b)  Girl Scouts of America headquarters
c)  Waffle House

3)  Which player had the lowest final round to win the Masters?

a)  Jack Nicklaus
b)  Bubba Watson
c)  Gary Player

4)  Who was the last player to win the Masters in his first attempt?

a)  Gene Sarazen
b)  Fuzzy Zoeller
c)  Charl Schwartzel

5)  Name the first left-handed player to win the Masters.

a)  Phil Mickelson
b)  Bob Charles
c)  Mike Weir

6)  What was the name of the first tournament held at Augusta National?

a)  Bobby Jones Invitational
b)  Augusta National Invitation Tournament
c)  Azalea Classic

7)  Who has finished runner-up at the Masters the most times without winning?

a)  Ken Venturi
b)  Tom Weiskopf
c)  Ernie Els

8)  Who was the first international player to win the green jacket?

a)  Gary Player
b)  Herman Keiser
c)  Henry Picard

9)  Name the only player to lose a playoff in the Masters twice.

a)  Ben Hogan
b)  Arnold Palmer
c)  Greg Norman

BACK NINE (5 points each)

10)  Who has the greatest final-round comeback in Masters history?

a)  Nick Faldo
b)  Arnold Palmer
c)  Jack Burke, Jr.

11)  Which player made the most birdies in a single round at the Masters?

a)  Tiger Woods
b)  Anthony Kim
c)  Steve Pate

12)  Which player made a 13 on the shortest hole at Augusta National?

a)  Dan Forsman
b)  Rocco Mediate
c)  Tom Weiskopf

13)  Who was the first Thai player to compete in the Masters?

a)  Sukree Onsham
b)  Thongchai Jaidee
c)  Tiger Woods

14)  What distinguishes the 14th hole from the others at Augusta National?

a)  It’s the only hole where Jack Nicklaus never made a birdie.
b)  It’s the only hole without bunkers.
c)  It’s the only hole not named after a flower.

15)  Of the players who have competed in at least 25 Masters, who has the lowest scoring average?

a)  Jack Nicklaus
b)  Raymond Floyd
c)  Fred Couples

16)  Who was the first European to win the Masters?

a)  Seve Ballesteros
b)  Nick Faldo
c)  Bernhard Langer

17)  Name the only Masters champion to start the final round out of the top 10.

a)  Art Wall
b)  Gary Player
c)  Arnold Palmer

18)  Who is the oldest player to have at least a share of the lead after any round at the Masters?

a)  Kenny Perry
b)  Jack Nicklaus
c)  Fred Couples

BONUS (10 points)

Except for the United States, which country has produced the most Masters champions?

a)  England
b)  Spain
c)  South Africa

*****************************************************

QUIZ ANSWERS:

1) b      2) a      3) c      4) b        5) c     6) b      7) b      8) a      9) a

10) c    11) b    12) c    13) a      14) b   15) c     16) a    17) a    18) b

Bonus) c

*****************************************************

So how’d you do? Post your score below in the comments section so we can see who the true Masters Masters are. We even have prizes for the top scorers (no, not green jackets…but I don’t think you’ll be disappointed).

-Chris

I’ve been on record saying that the SBA will likely see a 20 to 30 percent decrease in 504 loan volume in fiscal year 2013. Despite the fact that the SBA is coming off back-to-back record-breaking years, I expect this drop-off in 504 loans due in large part to the 504 refinance and secondary market (FMLP) programs not being extended past September of 2012. Well, I may have to eat my words (and I’ll gladly do so), because the Agency recently announced some changes that may curtail my forecasted decrease. Specifically, there are four things that I think will make a big difference for small business owners, and I explain them in the video below:

I know the video is a bit long, but I think the information is extremely helpful for small business owners who want to purchase, construct, or renovate their commercial facilities. Be sure to share this with someone who’ll appreciate it and benefit from it, and stay tuned for more updates as we learn more about these proposed changes and the proposed legislation regarding SBA 504 refinancing.

Thanks for reading, watching, and sharing. Leave a comment below to give your input on these changes and what they mean for you or your small business clients.

Dedicated to Your Continued Success,

-Chris

P.S. If you have any questions about how we can help you or someone you know purchase, construct, or renovate commercial real estate with our smarter financing, call me at 1-866-622-4504 or email me at ChrisHurn@MercantileCC.com.

As I said last week, we’ve been stretched a little too thin to work up a good April Fools’ Day hoax this year. We’ve had a lot of fun seeing what others have done, though. Here’s a mid-day roundup of my favorite video pranks for 2013 from Google, the White House, YouTube, and more:

The White House…

Google Nose…

Google Treasure Maps…

YouTube Shutdown…

Gmail Blue…

Scope Bacon Mouthwash…

HipChat Emoticorrect…

Leave a comment below to share your favorite prank/hoax/joke this year. I hope you’ve had a safe and somewhat-productive April Fools’ Day, and I look forward to working with you or your small business clients to provide the smartest commercial real estate financing available (no joking).

Dedicated to Your Continued Success,

-Chris

April Fools’ Day is usually a pretty interesting day around Mercantile Headquarters. Robin is our chief prankster, and she’s gotten some of us pretty good over the years. There was the time she told me Jorge Bouche called from 202-456-1111 and asked that I call him back. Turns out that’s the White House phone number, and you can guess what they said when I asked for “Jorge Bouche.” She also got Ken, our receptionist, when she had him call “Harry Lyons” at 407-323-4450 (the Central Florida Zoo).

She’s also been known to rearrange offices, tamper with phones and keyboards, and even turn pictures upside down in frames. But the most memorable one was when she made Dirt Cake — cream cheese, cool whip, crushed Oreos, etc. — for the whole office. Instead of the cream cheese and whipped topping, she used mayonnaise and vinegar. More than a few of us had a mouthful of the junk before we realized what she’d done. Funny in retrospect…I guess.

Luckily, Robin now works from home. In Ohio. Hopefully April Fools’ Day will be a nice quiet day around our offices (in Orlando). In truth, we all like a good prank, and we’ve pulled a few corporate ones, too. Here are the last three major April Fools’ Day announcements we’ve done:

2011: Elephant Soccer

Two years ago, we issued a press release announcing our involvement in bringing elephant soccer to the United States in the form of the Elephant Football League (the EFL). Believe it or not, elephant soccer really happens…just not in Central Florida. Yet.

2010: Icelandic Fish Cannery Health Spas

In 2010, we announced that we found a loophole in the SBA lending manual allowing us to fund eligible international projects with SBA 504 loans. The first commercial loan issued under this international provision helped renovate and modernize the Reykjavik National Fish Cannery and Holistic Health Spa, according to our press release. You have to see it to believe it.

2009: A New Name

We changed our company name at the end of March in 2009 from Mercantile Commercial Capital to Mercantile Capital Corporation (all those t-shirts, hats, and umbrellas with our old branding became instant collectors’ items). When we wrote the press release about our name-change, we also mentioned that we had negotiated a major deal with government officials (behind closed doors, of course) that granted us naming rights for the SBA 504 loan program among other things. We even included a quote from Treasury spokesman, Dr. Lopo Flairs (an anagram for April Fools) — something I was particularly proud of.

So, will we do something this year? Probably not. I’ve been out of the office most of the week, and we’re closed on Friday for a three-day weekend. I just don’t think we’ll have time to put something together. Besides, these things usually rub somebody the wrong way and we end up having to issue a follow-up announcement/apology.

Are you a prankster, or have you been the victim of April Fools’ Day shenanigans? Share your best April Fools’ story with me by leaving a comment below or emailing me at ChrisHurn@MercantileCC.com. The best story gets a prize. Seriously.

Happy Early April Fools’ Day…and Happy Easter and Passover (chag sameach), too!

-Chris

P.S. We didn’t get a 2012 April Fools’ prank done in time because I was busy testifying before Congress in Washington, D.C. Leave it to the government to put a damper on all the fun, right?

P.P.S. One thing we never joke about: providing smarter financing for small business commercial real estate projects better than anyone else. If you or someone you know is looking to purchase, construct, or renovate commercial property, call me at 1-866-622-4504 or email me at ChrisHurn@MercantileCC.com.

P.P.P.S. Go here to read about the April Fools’ Day history mystery.

All you have to do to vote is go here, and I would really appreciate if you took advantage of the once per day voting through this coming Tuesday March 26^th.

Thanks again for reading, voting, and sharing with others.

-Chris

P.S. If you have picked up a copy of my book – Thanks — but please don’t forget to write a short review on Amazon. If you haven’t gotten your copy of The Entrepreneur’s Secret to Creating Wealth yet or you want to buy one (or a couple for other business owners you think would benefit from it), go here to do so. Thanks!

P.P.S. Don’t forget to vote each day through Tuesday. I really appreciate it.

The last two years have seen record-shattering levels of government-guaranteed lending, which includes the SBA 504 loan program (aka the SmartChoice® Commercial Loan). In terms of loan volume, 2011 and 2012 were the biggest and second biggest years (respectively) in the history of the SBA. Since the SBA has done the lion’s share of small business lending as our economy struggles to get back on its feet, what can we expect in 2013?

Go here to read an article I was just quoted in yesterday on BusinessWeek.com called “How Are the SBA’s Loan Programs Doing?”

GOOD NEWS — SBA loan volume is up 18 percent over the same period last year (again, the second biggest year for SBA lending ever). It’s clear that demand from small business owners for these loans remains strong, and SBA lenders like Mercantile Capital Corporation are filling the void left by ordinary banks and other lenders.

BAD NEWS —Don’t expect this record-setting trend to continue through 2013. All-told, I think we’ll see 504 loan volume drop 25–30 percent by the end of this fiscal year. One of the primary reasons for this is the expiration of the 504 refinance program last September…one of the biggest blunders made by our elected officials in recent history (in my opinion).

This program was a public-private partnership, NOT a government subsidized program, and it helped many small business owners lower their commercial property expenses and create wealth for themselves without requiring any taxpayer dollars to do so. Out of the $15 billion authorized for the program, a mere $2.5 billion was put to use (much of it in the waning days early last fall). There has been some talk of reinstating the program, but I don’t hold much hope that we’ll see it happen.

Despite this, I believe that Mercantile and other smart lenders will be able to help many small business owners get the commercial property financing they need, and 2013 will be a good year. Just don’t look for the record numbers we’ve seen in recent years.

What do you think? Leave a comment below or email me at ChrisHurn@MercantileCC.com to tell me how you see things shaping up for the small business lending industry or your business this year. And please share this with someone else who’ll find it interesting.

Thanks for reading, commenting, and sharing!

-Chris

P.S. I’m personally trying to counter the expected drop-off in loan volume with my book, The Entrepreneur’s Secret to Creating Wealth. If you still haven’t picked up your copy, it’s about how small business owners can make smart decisions about commercial property ownership that will create wealth and help them grow their businesses. Go here to get your copy, and go here to vote for my book in the Small Business Book Awards (voting ends March 26th).