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Mercantile Capital Enterprise, which ranks as one of the country's leading providers of U.S. Small Enterprise Administration (SBA) 504 loans to small business owners who need to obtain or develop their own facilities, closed fourteen commercial property loans in June to finance projects costed at more than $66 million. Chris Hurn, CEO of Mercantile Capital Establishment, announced loan closings in June represent the nine-year-old corporation's largest month ever.
Since January, Mercantile Capital Corporation has closed 58 commercial loans to finance projects that total $220.7 million. That's more than the company closed during all of 2011. Last year Mercantile closed 57 loans to finance projects valued at more than $174 million in total project costs.
Loan volume for the 1st half a year of 2012 is up 240 percent from the same period in 2011, which was a record setting year for the company.
Govt has to its credit,? Hurn recounted. ?We can help small company ventures grow by helping them take charge of their commercial real-estate costs with long term, below-market, fixed interest rates, and longer terms than are available with standard commercial financing right now.? Hurn said. For more information, visit : 504Experts or 504Blog.
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