504 Loan Blog: Curated by Mercantile Capital Corporation

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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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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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