504 Loan Blog: Curated by Mercantile Capital Corporation

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The SBA Proposes Four Changes to the 504 Loan Program…

The SBA has proposed four changes to the SBA 504 loan program

I’ve been on record saying that the SBA will likely see a 20 to 30 percent decrease in 504 loan volume in fiscal year 2013. Despite the fact that the SBA is coming off back-to-back record-breaking years, I expect this drop-off in 504 loans due in large part to the 504 refinance and secondary market (FMLP) programs not being extended past September of 2012. Well, I may have to eat my words (and I’ll gladly do so), because the Agency recently announced some changes that may curtail my forecasted decrease. Specifically, there are four things that I think will make a big difference for small business owners, and I explain

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April Fools’ Day 2013 Video Roundup…

April Fools' Day Roundup from Mercantile Capital Corporation

As I said last week, we’ve been stretched a little too thin to work up a good April Fools’ Day hoax this year. We’ve had a lot of fun seeing what others have done, though. Here’s a mid-day roundup of my favorite video pranks for 2013 from Google, the White House, YouTube, and more:

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Foolin’ Around with the Un-Bankers…
  • Thursday, March 28th, 2013 at 11:01 am
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Foolin' Around with the Un-Bankers...

April Fools’ Day is usually a pretty interesting day around Mercantile Headquarters. Robin is our chief prankster, and she’s gotten some of us pretty good over the years. There was the time she told me Jorge Bouche called from 202-456-1111 and asked that I call him back. Turns out that’s the White House phone number, and you can guess what they said when I asked for “Jorge Bouche.” She also got Ken, our receptionist, when she had him call “Harry Lyons” at 407-323-4450 (the Central Florida Zoo).

She’s also been known to rearrange offices, tamper with phones and keyboards, and even turn pictures upside down in frames. But the most memorable one was when she made Dirt Cake — cream cheese, cool whip, crushed Oreos, etc. — for the whole office. Instead of the

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Vote for the Best Small Business Book…
  • Thursday, March 21st, 2013 at 3:43 pm
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I’ve been honored by having my book, The Entrepreneur’s Secret to Creating Wealth, nominated for Small Business Trend’s 5th Annual Small Business Book Awards. Currently, it’s in first place in the personal finance category, but I still need your help. If you’ve voted for me already I thank you, but please watch the video below to find out how you can help my book get named as one of the overall winners.


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Good News/Bad News for Small Business Lending in 2013…

Good News / Bad News about Small Business Lending in 2013...

The last two years have seen record-shattering levels of government-guaranteed lending, which includes the SBA 504 loan program (aka the SmartChoice® Commercial Loan). In terms of loan volume, 2011 and 2012 were the biggest and second biggest years (respectively) in the history of the SBA. Since the SBA has done the lion’s share of small business lending as our economy struggles to get back on its feet, what can we expect in 2013?

Go here to read an article I was just quoted in yesterday on BusinessWeek.com called “How Are the SBA’s Loan Programs Doing?

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