504 Loan Blog: Curated by Mercantile Capital Corporation

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Small Business Awards…

For the third time in my career, I’ve been honored as the SBA Financial Services Champion of the Year (2006, 2010, and now 2013), and this kind of recognition never gets old. Of course it feels good to win awards and to get the attention that goes along with it, but it also gives me a chance to brag on the people I work with — the people who make up the Mercantile Family, as we like to call it. These people work terribly hard, and I’m terribly proud of the blood, sweat, and tears they’ve all poured into this wonderful company.

I accepted the award at a luncheon reception yesterday, and my staff recorded my remarks. If you have a few minutes to spare, I’ve posted it below. Be warned: if you suffer from

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SBA 504 Refi Redux

The CREED Act will reinstate the SBA 504 Refinance provision

Since the beginning of the year, I’ve been saying that we’re going to see a decrease in small business loans this year, likely in the 20 to 30 percent range. The primary reason for my gloomy outlook is that both the SBA 504 Refinance and FMLP programs expired last September. In my video blog on April 4th, I mentioned several changes that have been proposed by the SBA that might offset the potential decline this year, but something even better has gained momentum since then.

Senator Mary Landrieu has introduced a bill that will effectively repeal the expiration of the SBA 504 refinance provision, making it possible for small business owners to again refinance

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Finding Success in Creative Ways…
  • Wednesday, April 24th, 2013 at 3:47 pm
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Finding Success in Creative Ways...

One thing I love about my job is hearing the stories from small business owners all over the country. Last year, we helped 97 small business owners in 27 states purchase, construct, renovate, or refinance their commercial property. When you work with that many business owners, you’re bound to hear some wonderful stories about overcoming adversity, going the extra mile, and finding creative ways to solve problems.

I probably don’t need to tell you this, but being a small business owner (and working with small business owners in an advisory role) takes a considerable amount of thinking outside the box. In today’s post-recession economy, there’s a “new normal” that a lot of us are still

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So long, Mr. Summerall…

So long, Mr. Summerall...you'll be missed.

For the past five years, our on-hold message has featured a welcome from Pat Summerall. If there’s anything that can make waiting on-hold tolerable, we figure it’s the legendary voice of Mr. Summerall. We were saddened to learn late yesterday of his passing, and I’d like to take a minute to remember this world-class broadcaster.

If you’re a sports fan of any kind, there’s very little chance you haven’t heard Pat’s voice. He worked 16 Superbowls (more than anyone else), 26 Masters Tournaments, and 21 U.S. Opens. He spent 10 years in the NFL as a placekicker before becoming an announcer and was the long-time on-air partner of John Madden, helping to anchor the latter’s excitable

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How well do you know The Masters?
  • Wednesday, April 10th, 2013 at 12:05 pm
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How well do you know The Masters golf tournament?

Some of us here at Mercantile are pretty avid golf fans (yours truly included…and let me emphasize that I’m a fan…I wouldn’t call myself an avid golfer). The Masters golf tournament is this weekend, and I can’t wait to see what happens this year at Augusta National. Tony and Sean, two of our Senior Loan Officers, made a trip to Augusta back in 2009 (when Angel Cabrera won in a three-way sudden-death playoff) and I was very jealous. I’ve been twice to practice rounds, but can’t wait to go back…especially to watch an actual competition round.

The other day, I came across a Masters quiz put together by Doug Ferguson, a golf writer with the Associated Press, and I thought you might like to test your knowledge of this legendary golf tournament. There’s a “Front Nine” and a “Back Nine” with different point

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