We’ve seen something of a small business construction boom in terms of our loan production in the last few years. Because we have so many construction projects under our collective belt, we think maybe we can say that we’re small business construction loan experts. It’s a very subjective judgement on our part, but we would never say something like that without having some evidence to back it up. Shannon Marks, our President and COO, has graciously answered a few questions about Mercantile’s collective experience in construction financing. Take a look…
Mercantile Capital Corporation provides construction financing for all 504-eligible property types, including office buildings, industrial facilities, hotels, restaurants, car washes, assisted living facilities, and self-storage facilities. There’s been an uptick in construction activity as the economy has improved over the last several years, and we’ve become one of the most active SBA 504 construction lenders nationwide.
Our experience with construction financing makes us stand out from other SBA 504 lenders and makes us more appealing to small business owners. On average, Mercantile’s executive team has about 25 years of construction lending experience on the lending/banking side. Each of them has also been involved with building their own construction projects, from the borrower side of things. Because of this, we know first-hand what our clients are dealing with when it comes to contractors, architects, inspectors, and all the other moving parts and challenges that come with construction projects. When small business owners choose Mercantile for construction financing, they’re not just getting a knowledgeable lender — they’re getting a partner who can help them navigate a complex process. We’ve been there, we’ve done that, and we believe (with good reason, we think) we can do it better than anyone else.
If you have questions or concerns about small business construction financing, we’re glad to help. Call, email, tweet, or leave a comment below. We’re currently working on a full-blown set of resources on construction financing (videos, blogs, additional website content) so let us know what questions you have.
– Your 504 Experts