504 Loan Blog: Curated by Mercantile Capital Corporation

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Small Business Week 2013

National Small Business Week 2013

This being National Small Business Week, there’s a lot of buzz coming from politicians about the importance of small businesses and the people who dare to create them. I came across an article written by Dan Danner, President and CEO of the National Federation of Independent Businesses (NFIB), of which Mercantile is a member. In fact, you may recall that we’ve supported the NFIB Young Entrepreneur Foundation through sales of my book, The Entrepreneur’s Secret to Creating Wealth (go here to read about how we’re “paying it forward”).

Dan wrote about things that small business owners might say during National Small Business Week if they were given the media spotlight instead of Washington talking heads. Frankly, I think he’s spot on and I can’t improve on his sentiments, so I’m going re-post here what appeared on FoxNews.com three days ago (you can see the original post here if you like)…

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JOIN, or DIE…

Join Chris Hurn & Mercantile Capital Corporation in support of the CREED Act

Okay, so the phrase “JOIN, or DIE” may be a little severe, but I want to use it as a jumping-off point to talk about some small business legislation that needs our support. In a blog post from last month, I explained that the CREED Act is working its way through Congress and will reinstate the SBA 504 refinance program if it becomes law. Whether or not you’re familiar with the 504 refi program or the CREED Act, supporting its passage on Capitol Hill is a no-brainer for several very strong reasons.

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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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