504 Loan Blog: Curated by Mercantile Capital Corporation

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An Open Letter to Maria Contreras-Sweet
  • Friday, January 24th, 2014 at 12:12 pm
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An Open Letter to Maria-Contreras-Sweet

Last July, speculation swirled about who the next SBA Administrator might be. It had been five months since Karen Mills announced that she would step down, and we were all starting to wonder about the future of the post and the agency. I joined the conversation, though not to guess who the nominee might be — instead I put forth a list of qualities the next SBA Administrator should possess and embody. Now that President Obama has nominated Maria Contreras-Sweet, I have a few suggestions for her to consider.

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2013 By the Numbers
  • Monday, January 20th, 2014 at 9:09 am
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2013 in Review | Mercantile Capital Corporation

I’ll be perfectly honest with you: last year was full of uncertainty, surprises, frustrations, victories, and defeats. I knew at the outset that 2013 would be a rather “interesting” year for Mercantile and the SBA 504 lending industry in general. There was good news and bad news regarding supply and demand. More business owners sought SBA financing, but the expiration of the 504 refinance program left a gaping hole in the range of services we could provide for them. I predicted that SBA 504 loan volume would be down by 30% industry-wide, and I was nearly right — I read just the other day that it was a full 40% decrease.

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SmartChoice Commercial Loan Calculator: iOS7 Update
  • Thursday, December 19th, 2013 at 12:13 pm
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iOS 7 Update...

When we launched our first smartphone app last year, we got a lot of great feedback. Our design team did a wonderful job building our SmartChoice Commercial Loan Calculator, and the result was a helpful tool for small business owners and their advisors (commercial real estate brokers, commercial mortgage brokers, etc.). With just a couple pieces of information and a few taps on your phone, anyone could get real-time interest rate quotes along with estimates of the down payment and monthly payments required for any given small business commercial real estate project (acquisition or construction). Our app even lets you compare our smarter financing to ordinary bank financing so you can see for yourself which is the best option for you.

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Our 504th SBA 504 Loan…

Mercantile Capital Corporation closes its 504th SBA 504 loan

It’s been 10 years since Mercantile Capital Corporation was founded. When my business partner, Geof Longstaff, and I started this company, we got a lot of funny looks from others who thought we were crazy to put all our eggs in one basket. That metaphorical basket was (and is) the SBA 504 loan program. Geof and I became convinced that this particular loan was too important for small business owners to be as underutilized as it was. We believed that if we made it our sole focus and provided a great experience for our small business clients (and did a good job of marketing ourselves and the program), we would ultimately be successful.

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JFK’s Turkey…
  • Wednesday, November 27th, 2013 at 12:08 pm
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JFK's Turkey

In case you’ve been living under a rock for the past month, last Friday marked the 50th anniversary of the assassination of President John F. Kennedy. It was an event that left an indelible mark on a generation of Americans, and I know there are many who are still fascinated by talk of conspiracy theories and cover-ups. Between you and me, I can only take so much conjecture about grassy knolls, book depositories, and multiple gunmen. Mercifully, this isn’t why I’m bringing up our 35th President — I actually have a Thanksgiving-related reason.

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