ALTAMONTE SPRINGS, FL. --- Mercantile Commercial Capital, LLC, the Orlando area firm that ranks as one of the nation’s leading providers of 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 43 commercial loans in 2008 valued at more than $75 million.
Christopher G. Hurn, (top right photo) co-founder and president of Mercantile Commercial Capital, said overall loan volume was down just slightly from 2007 levels but strong growth toward the end of the year bodes well for 2009 prospects.
Christopher G. Hurn, (top right photo) co-founder and president of Mercantile Commercial Capital, said overall loan volume was down just slightly from 2007 levels but strong growth toward the end of the year bodes well for 2009 prospects.
“We processed commercial property loans in 17 states, including 17 loans in Florida during 2008,” Hurn said.The firm’s largest single loan for the year---for $6.1 million---financed the acquisition and redevelopment of a Fort Lauderdale manufacturing plant.
“The SBA 504 loan program might rank as the most effective business stimulus program offered by any U.S. government agency,” Hurn said.
“Each loan is tied to job creation, and the overall effect of the program is to provide below-market interest rates that substantially increase capital availability for small business growth,” he said.
For more information, contact
Chris Hurn, CEO Mercantile Commercial Capital, LLC 407-786-5040
Geof Longstaff, Chairman Mercantile Commercial Capital, LLC 407-786-5040
Robin Lashley, Mercantile Commercial Capital, LLC 407-786-5040
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
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