504 Loan Blog: Curated by Mercantile Capital Corporation

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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

We’ll be perfectly honest with you: last year was full of uncertainty, surprises, frustrations, victories, and defeats. We 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. We predicted that SBA 504 loan volume would be down by 30% industry-wide, and were nearly right — we 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 Geof Longstaff and his partners started this company, they got a lot of funny looks from others who thought they were crazy to put all their eggs in one basket. That metaphorical basket was (and is) the SBA 504 loan program. Geof became convinced that this particular loan was too important for small business owners to be as underutilized as it was. He believed that if Mercantile made it its sole focus and provided a great experience for its small business clients (and did a good job of marketing it), it 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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Small Business Commercial Finance Update for November
  • Monday, November 18th, 2013 at 1:32 pm
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Commercial Finance Update - November 2013

November is a really “thankful” kind of month. We just celebrated Veterans Day (accompanied by ongoing veteran-related news from Washington) and Thanksgiving is right around the corner. I’m truly thankful for you and others who read this blog. We at Mercantile Capital Corporation work hard to stay at the forefront of smarter commercial real estate financing, and I have a venue here to share industry-related news in a more “personable” way (at least, I hope it comes off that way).

To help you be prepared when talking with your small business clients (or even if you’re a small business owner yourself), here’s our November Commercial Finance Update. Our featured project is the purchase of an 81,646 office/warehouse in Simi Valley, and our current rates are explained (20-year fixed rate remains at 5.45%). Click the image below to view the document, which you can print and save for future reference:

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