I know that National Small Business Week is technically over, but I think it’s important to celebrate America’s small businesses every day. I’ve had the honor of interacting with countless business owners, as a commercial lender and as a small business owner myself, and I’m grateful for their hard work and efforts that create jobs and grow our economy.
The video below is part two of Mercantile’s origin story. In a nutshell, you’ll learn why and how we came to specialize in the SmartChoice® Commercial Loan (aka the 504 loan) and how we’ve been successful by doing things differently than our competitors. I think you’ll find some of our founding principles interesting and helpful, so watch the video below.
After you watch the video, I have two very small requests:
First, be sure to leave a comment below to let me know what you think, whether you agree with me, or what other things you’d like me to discuss here on this blog. You can use the Facebook features here to leave comments on both this blog and your Facebook page, which will help others find this information as well.
Second, tell someone else about this blog and this video. I’m certain you can think of at least one person who owns a small business and ought to hear some of what’s talked about on this blog…and ought to own their commercial property. Even if you can’t think of someone in particular, you can always share it on Facebook or Twitter (someone’s bound to see it and find it useful).
Thanks so much! I truly hope this kind of information is helpful and useful to you, so be sure to check back regularly for updates.
Dedicated to Your Continued Success,
Chris
P.S. Don’t forget to connect with us on Facebook, Twitter, YouTube and LinkedIn — these are the best ways to stay up-to-date with us.
Tags: Chris Hurn, Commercial Property, commercial property financing, commercial property ownership, commercial real estate, Commercial Real Estate Loans, Mercantile Capital Corporation, SBA 504 Expert, SBA 504 Loan, SBA financing, Small business, small business financing
Darren Rivchin says:
Thanks Chris,
We are really hoping to be able to utilize the 504 to increase our square footage for our service department. Hope all is well.
J.R. says:
Thanks Chris.
Walter Arrington says:
CHRIS, WE ARE THE FORGOTTEN MEMBERS OF THE AMERICAN SOCIETY. THE RICH AND THE POOR GET GOVERNMENT HELP, BUT, WE SMALL BUSINESSMEN ARE PURPOSELY NEGLECTED BY THE FEDERAL , STATE, AND CITY GOVERNMENTS. THIS POLICY STARTED IN 1978, WHEN THE
SBA WAS GUTTED OUT AND NEUTRALIZED BY THE REPUGNANT COONS.
Robin McLeod says:
Thanks for included us in your email!!! I hope we can do business together soon!!!!
Brian Comiskey says:
Just curious. What metric do you use to be considered the “The Leading Owner-User, Commercial Property Lender in the Nation.” I was thinking that title might go to BofA or Wells.
Chris Hurn says:
I’m not sure if you’re being facetious or not, Brian – email doesn’t also translate humor well.
I guess my answer would be that just because they’re the biggest, doesn’t make them the best . . . and “leading” is a term that denotes thought leadership, but may not reflect other “metrics.” Of the 65+ CDCs we’ve worked with in 33 states, DC and Puerto Rico doing over $700 MM of 504 projects in the past 8 years, I think few (if any) would argue that we’re not “thought leaders” in this industry . . . and many probably wouldn’t take issue with the nearly $4.5 MM we’ve spent educating the small business marketplace on these loans over those years as well – I’d ventured to say that no other lender (even the two you mentioned) has spent that much JUST on 504 marketing over that timeframe.
Without having branches on many street corners (we didn’t have ANY until we merged with a local bank back in October – now have 9), hundreds of thousands of employees (we have 23), and billions (maybe trillions) in assets, we still NUMERICALLY ranked as the 11th largest originating 504 lender (not including CDCs) in the latest fiscal year. I don’t think there’s any rational reason for our success BEYOND being leaders in this space (and executing well on that).
In addition, we’ve done deals with both of the banks you listed wherein WE provided the creative solution(s) that got the transactions funded (they didn’t or couldn’t). We’ve been honored with numerous national awards that are a testament to our focus on these loans (always leading with the 504, as opposed to most banks who do not), and we literally have hundreds of references/testimonials from delighted past clients and referral sources. I could go on and on, but you get the idea. I think it’s the combination of all of these things, plus the willingness to say it (“leading”) and back it up so well.
So why aren’t we doing more with your CDC in IL?