ALTAMONTE SPRINGS, Fla. - For Christopher Hurn, (top right photo) CEO of Mercantile CapitalCorporation in Altamonte Springs, one thing is clear: the U.S. SmallBusiness Administration's 504 loan program for small business owners is thebest-kept secret in commercial lending today.Hurn recently returned from Dallas, where he was the keynote speaker at theSBA's 5th Annual 504 Lenders Conference, which drew more than 175 majorlenders from across the southwest.
"Bankers don't like to talk about the SBA 504 program, even though it's such a powerful resource for small business owners," Hurn said.
"The loans are a bit more cumbersome to execute, but banks make less money on them than they do on traditional financing programs," Hurn said.The SBA 504 loan program is a powerful economic resource for borrowers, forlenders and for the national economy, Hurn told the group.
"From the lender's perspective, from the borrower's perspective and from the national economy perspective, the SBA 504 lending program is reducing costs, generating jobs and making small businesses more productive, while creating wealth for business owners," Hurn said
.SBA 504 loans offer small business owners up to 90 percent financing at substantially reduced rates to develop, acquire, and remodel commercial facilities.
Mercantile Capital Corporation, formerly Mercantile Commercial Capital,ranks as one of the most active providers of SBA 504 loans in the nation.
For more information, please contact:
Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040
Geof Longstaff, (top left photo) Chairman, Mercantile Capital Corporation, 407-786-5040
Shannon D. Marks, COO, Mercantile Capital Corporation, 407-786-5040
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
Sheila Goodman, Larry Vershel Communications, 407-644-4142; P407-644-4410 F
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