504 Loan Blog: Curated by Mercantile Capital Corporation

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$51.6 Million for Small Businesses During First Quarter

MCC Q1 Press Release

I’m happy to report that the outlook for America’s small business owners continues to brighten. We still have a long way to go to help small businesses grow and create jobs, but we’re seeing more confidence from our primary job creators in small (and important) increments. In January we announced that our 2013 loan volume topped our 10-year average by 77.3%. Through the first quarter of 2014, we’re 2.3% ahead of our 2013 pace. A couple things contribute to this uptick.

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Guest Blog: Open Letter to Senator Jeff Sessions (R-AL)
  • Wednesday, April 16th, 2014 at 1:19 pm
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Guest Blog: An Open Letter to Senator Jeff Sessions

Charles H. Green, Managing Director of the Small Business Finance Institute and regular contributor to the Coleman Report, has penned an open letter in response to comments from Jeff Sessions, Republican Senator from Alabama, that appeared in a Bloomberg BusinessWeek article yesterday. I happen to think Charles’s stance is right on the money and I’ve received his permission to feature his letter here as a guest blog (our first ever, I might add). After you read what he has to say and the article from Bloomberg BusinessWeek (here), I’d really like to know your thoughts. Leave a comment below or email me at ChrisHurn@MercantileCC.com. Here’s the open letter:

Dear Senator,

Why are you investing the prestige of your office and the popular support from your home state to wage a war of misconstrued facts on the U.S. Small Business Administration?

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Small Business Commercial Finance Update for April 2014

April 2014 | Commercial Finance Update

I haven’t posted an update like this in a couple months because we’ve been so busy closing commercial loans like the one you’ll read about in this April 2014 Commercial Finance Update. It was a $12 million project to fund the purchase of a 428,867 square foot industrial facility in Bensalem, Pennsylvania, and our client only had to put down 10% of the total project cost (keep reading for more details). Also, the 20-year fixed rate on our loan program has dropped to 5.18%, and you’ll see what that means in terms of monthly payments in the Structure & Rate section. Without any further ado, here’s this month’s update (click the image to view a printable PDF):

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SBA 504 Loans At Your Fingertips
  • Tuesday, April 1st, 2014 at 8:44 am
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504touch

We’re thrilled to announce something HUGE today. Ever since I got my first iPhone, I’ve wanted to make use of touchscreen technology in the small business lending industry. With the recent proliferation of biometric technology and the opportunity to work with the NSA (can’t divulge many details), we’ve been able to develop a loan application that requires only a thumbprint.

The following press release is being distributed with all the details, and you can experience it for yourself at www.504touch.com

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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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