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504 Loan Blog

A record-breaking Q1 and a big thank you…
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Mercantile Capital Corporation had a record-breaking quarter with $88 million in SBA 504 Loans.

We just had our best quarter ever. Technically. You see, 2012 was a year for the record books, but with an asterisk. That’s when the SBA 504 refinance program was in effect (the first go ‘round), and the number of refi loans we were able to do really goosed our lending totals that year. So not counting 2012, Q1 2016 saw us reach our highest loan volume total in the history of Mercantile: more than $88 million in total project costs.

Thank You and Thank You

We may not say it as often as we should, but we think it all the time and we know it’s the truth: it wouldn’t be possible for us to help very many small business owners without the help of our network of referral partners. And when we say “network,” it’s really because we can’t think of a better way to refer to it. People keep recommending us and sending us business, over and over — bankers, lenders, CDCs, mortgage brokers, real estate brokers, past clients, and a slew of others. We’re so grateful because we get to help more business owners than we otherwise could and it tells us that we must be doing something right. Nobody signs up to be in our “network.” Lots of the people who continually recommend us and refer people to us have become trusted business partners over the years, so maybe something like “extended family” would make more sense than “network.” Regardless, we’re thankful and humbled that we get to work with such great people.

Onward and Upward

Here’s a fact about us: we flat out love what we do. Setting a record for quarterly loan volume or production doesn’t make us want to put our feet up and coast through the rest of the year. We’re currently working on quite a few loans in various stages and there’s always room for more. If you know of (or if you are) a small business owner looking to buy, build, or renovate commercial real estate (owner-occupied, of course), we’d be honored to talk to them about how we can help. Call us at 1-866-622-4504 or simply reply to this email and we’ll get the ball rolling. We’re here to help.

– Your SBA 504 Experts

P.S. In case you’re curious (but of course you are since you’ve read this far already), the following people referred business to us during the first quarter of this year: Greg Powell from Empire State CDC referred CH Harrisburg; Dave Rankin from our parent company, IBERIABANK, referred Max Airways; Kevin Hagan, also from IBERIABANK, referred the owners of both Island Sun and Island Breeze Motels; Don Marshall from Arrow Mortgage referred Central Florida Total Health; Fred Mills from Business Loan Capital referred Hill Top Hospitality; Mike Lovata from Park Place Equity referred a hotel deal to us; Bob Forsythe with the Pacific West CDC referred Tides Hospitality; Tom Wallace from Independent Development Corporation (IDS) referred Excellence ALF; and Scott McCleneghan from IBERIABANK referred Islamorada Beer Company. Without those referrals we wouldn’t have been able to close loans worth over $88 million and help create or retain 364 jobs in four states (California, Florida, New York, and Texas). Many thanks!

2 Comments

  1. Hope Prevette says:

    We are opening a new business and searching diligently for space in our small town. Our business model would be a perfect fit for an older building that needs work and repair. We are open to purchase or lease. How do we get started?

    • admin says:

      Thank you for your message Hope. One of our Experts will be in touch with you shortly.

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