The firm, which specializes in U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reported it closed on loans that total more than $10 million in May, up more than 66 percent over the same period last year.
Geof Longstaff, (top right photo) co-founder and chairman of Mercantile Capital Corporation, said May lending activity included $3.3 million to acquire and renovate a marina in Golden Meadow, La., and two loans that totaled $7 million to acquire Best Western hotel properties in Winslow and Cottonwood, Ariz.
Longstaff said the firm’s commercial property loans in May, 2008 totaled just over $6 million.
For more information, contact:
Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142