504 Loan Blog: Curated by Mercantile Capital Corporation

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Entrepreneurial Founding Fathers

Entrepreneurial Founding Fathers

When the United States of America was founded by those who went before us, an enormous entrepreneurial experiment began. Massive risks were taken by the men who declared their independence from those who sought to oppress them, and those of us who are business owners understand what that’s like. Now, the stakes are a bit different — very little blood is shed over a startup business these days — but the risks are real and very scary at times. It can feel like life-or-death more often than any of us would like to admit. So, as we approach America’s Independence Day, I’d like America’s small business owners to know that their ingenuity, hard work, sacrifices, and determination to succeed are appreciated and admirable.

However, did you know that Independence Day was technically yesterday? I wrote about this a couple years ago, but I just find it fascinating and must re-share. The Second Continental Congress voted to declare independence from Britain on July 2nd, 1776, and John Adams (our second President) had this to say about it:

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Commercial Finance Update for June…
  • Wednesday, June 26th, 2013 at 3:40 pm
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Commercial Finance Update for June 2013 from Mercantile Capital Corporation

We’re headed toward the dog days of summer (here in Florida, it already feels like we’re in the thick of it), so I’d like to share some news that may prove helpful in this slow-moving middle part of the year. I’ve heard from numerous people that our past monthly Commercial Finance Updates have proven invaluable, so I’ll be making them available here going forward.

If you advise small business owners in any way, you ought to download and share with them our Commercial Finance Update for June below. It explains a little about why our SmartChoice® Commercial Loan is often the very best deal for small business owners who want to purchase or construct commercial property. It also talks about where interest rates are right now and where they’re going. This will be a very helpful thing when you find yourself in a conversation with a client about commercial property and financing.

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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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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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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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