Mercantile Capital Corporation "The 504 Experts" Blog 
The SBA's latest attempt at helping the small business community is to ease the restrictions on using 504 loan funds for the purposes of refinancing. This change was announced earlier this week, and is a fine idea, but it unfortunately doesn't do enough to truly provide the aid that small businesses need right now. Go here …
I recently had the pleasure of visiting the headquarters of Zappos while I was in Vegas for a conference, and I have quite a bit to tell you about the experience. They have done (and are doing) some things there that would blow your mind. The company is popular with online shoppers because they offer free shipping …
Update On My Tickets Quest For My Birthday…
So first, a BIG “Thank You” to everyone who commented on my MAGIC tickets quest and to everyone who wished me a “Happy Birthday.” I DID have success in getting tickets (more on that in a moment), and I DID have a very nice birthday with my family. Thank you, again.
If “40” is the new “30” and …
A rare personal message from me about this upcoming weekend…
As you're a regular reader of our marketing efforts (blogs, emails, newsletters, direct mail, video, tele-marketing, and so on), you know I rarely deviate from strictly business matters when I communicate with you. Today, however, is one of those days for a bit of deviation.
While many in Orlando (myself included) are still mourning the near-collapse of our beloved MAGIC …
Some Happy Thoughts for You and Your Business
You and I have taken a beating from the media during the last year or so about the economy and the recession and how the end is near. But none of us can give it our ALL (be that family, business, exercise, hobbies or anything else) if we're mired in negative thoughts and worry. As a CEO, one …
Is the new SBA Administrator Already Failing America's Business Owners and Entrepreneurs?
My good friend and editor of the Coleman Report, Bob Coleman recently wrote a very revealing and insightful piece ("scathing," might be a better choice of wording) in his weekly publication. In the May 11th and May 18th issues, he profiled how the new SBA Administrator, Karen Mills, doesn't seem to be doing all she can for America's beleaguered …
Memorial Day this coming Monday
From all of us here at Mercantile Capital Corporation, I just want to wish you a very pleasant Memorial Day this coming Monday, May 25th. We hope you'll spend some quality time with your loved ones on that day, and remember and honor our fallen soldiers, for the sacrifices they made to help create and defend our Great Nation. …
Angels & Demons opens tonight, but what does that have to do with MCC?
I'm predicting that the new Dan Brown novel-now-movie starring Tom Hanks opening tonight will knock Star Trek and X-Men Origins: Wolverine off the box office top pedestal. Why do I think this, and what does it matter to you?
Nearly three years ago to the day, Dan's first story, The Da Vinci Code, was spoofed by our marketing team in …
Every entrepreneur I know has a “do whatever it takes story.” This is usually an example of how they did what they needed to do to make it work, stay in business, or how an employee (usually an ex-employee) “wouldn't do it.” I have this occurring as I type this, on an admittedly smaller scale. I've recently …
Representation Without Taxation
We used to have an issue in this country about taxation without representation. In other words, paying taxes, but not getting to decide how you're governed…of course, back then, we were a colony and not a country…and that's my point. Backasswards taxation policy was once enough to start the American Revolution. Perhaps it's time for …
I've been telling a LOT of media outlets lately that the Big Banks became all-things-to-all-people generalists, when specialization is the primary route to success in today's fast-paced, high-tech world. Becoming “jacks of all trades, masters of none” ultimately doomed the Big Banks, even while some of these same people laughed at our singular focus when we first launched …
Last Man Standing…The Big Banks Got What Was Due Them
How ironic it is that America's largest banks, in their ever-increasing quest for growth at any cost, drifted horribly away from their skill-sets and knowledge-base and into exotic financial instruments few people sold and even less understood. Now we continue to bailout these "too-big-to-fail" institutions while America's small businesses eagerly wait to see if anyone in Washington …
There's a chance you've heard by now, but I don't like leaving things to chance. I figure an official blog post about our name change will ensure that you and everyone else has the chance to read the details.
I'm proud to announce that effective April 1st, 2009, Mercantile Commercial Capital, LLC changed its name to Mercantile Capital Corporation. …
In the midst of another busy week . . .
I know I haven't blogged much lately about the economy, small businesses, or commercial real estate. It's just that I've been busy “renaming” the SBA 504 Loan program and reorganizing for nationwide expansion as Mercantile Capital Corporation, all while doing a fair amount of traveling (not to the G-20 Summit, but traveling nonetheless). As I look …
One last important announcement . . .
As a follow-up to yesterday's blog and press release,
I'd like you to read the following release, issued just
a few minutes ago.
Happy April Fool's Day from the MCC Family,
Chris
******************
NEWS RELEASE
Mercantile Capital Corporation Retracts Earlier SBA 504 Announcement
"Just an April Fool's Day Prank to Release Some Tension," says CEO
ALTAMONTE SPRINGS, Fla. — Mercantile Capital Corporation (formerly known
as Mercantile Commercial …
Yesterday was a big day for our company: we officially changed our name from Mercantile Commercial Capital, LLC to Mercantile Capital Corporation. There are many reasons for this, but I won't go into them all here just yet. We distributed a press release earlier this morning that explains some of the exciting changes.
I've copied the full …
That's right — I was on the Fox Business News Channel about 11:30am this morning, discussing small business and entrepreneurship — similar to what we"ve been talking about here at www.504blog.com. If you happened to see the segment, let me know what you think by leaving a comment below. If you weren't able to catch the …
Small Businesses Will Lead Us To a Better Future…
And I'm not alone in this declaration anymore, either.
I came across an interesting survey, which was a joint interactive poll by Zogby International (a polling firm that has been has been tracking public opinion since 1984 in North America, Latin America, the Middle East, Asia, and Europe) and WeMedia, asking: Who will lead us to a …
What we can do to stimulate job growth NOW . . .
I've heard from a lot of people regarding my blog post from Tuesday – – if you haven't read it go here to get up to speed. As promised what follows are my proposals that would dramatically stimulate job growth in America.
I propose Phase II – – a "Small Business Growth Act of 2009" to jumpstart our …
America's Small Businesses Get the Shaft AGAIN
How the Stimulus Bill Won't Stimulate Job Growth, But What Can Boldly Be Done Next
As important as the new American Recovery and Reinvestment Act (ARRA) of 2009 is to helping us get back to some sense of "normalcy" as a country, the sector that regularly produces between 60% and 80% of all new jobs in America will only marginally …
You've probably read my previous blog post about the governmental roadblocks we've faced over the last several months. If not go back and read it now to get up to speed. It won't take long.
We will close a distracting chapter and continue doing what we do best: provide America's business owners and entrepreneurs with the Best …
The "Great Big Quivering Gelatinous Invertebrate Jelly of Indecision"
That quote is what London Mayor, Boris Johnson, recently called Prime Minister Gordon Brown in issuing him a political challenge . . . but I've re-purposed it here as it pretty much sums up my feelings about a certain governmental agency. As you might have read in a recent Orlando Sentinel article: Emergent National Bank (ENB) …
My Crystal Ball and How to Recover the Economy Quicker
There are several things the folks in Washington can do right now to get our economy back on track . . . and the beauty of my suggestions is that we don't need to create new governmental programs – – just tweak ones that are currently on the books. Full disclosure: I wasn't asked to join the …
Commercial Finance Expert Interviews Leading Business Authors for Live Monthly TeleSeminar Series
Last week I conducted the latest call for our monthly Small Business Success Strategies® (SBSS) TeleSeminar Series with special guest, Nick Nanton, author of Celebrity Branding You™. Subscribers learned how they can become the go-to experts in their industries and how to use this Celebrity to further develop their unique, personality driven brand and eliminate their competition. …
When It Is Time to Buy Instead of Lease
I spoke with Karen Klein, writing for BusinessWeek, last month about owning property versus leasing. Karen is a writer based in Los Angeles covering entrepreneurship and small business matters. A business owner wrote in with a question about whether or not purchasing property right now is a good idea. The following brief article is essentially a question-and-answer, …
In late November of 2008, Chris was interviewed for an article that appeared on Inc.com in early December. If you haven't seen it, the full text of the article is below. Please let us know your thoughts by leaving a comment after you've read Chris' comments.
By Venuri Siriwardane
Published December 2008, Inc.com
Criticism has swirled around the Small Business Administration …
How to Use the Federal Bailout to Fund SBA Programs
Further thoughts from Chris Hurn, CEO, Mercantile Commercial Capital:
Use the federal bailout funds to invest in the SBA secondary market – Most SBA lenders sell their loans to major institutional investors, but this secondary market for these loans has been hit hard by the lagging economy. With just one percent of the $700 billion dollar bailout, the government …
SBA Loan Programs: Is the SBA Competing Against Itself?
What can be done to handle the economic problems that we are facing now?
Chris Hurn, CEO of Mercantile Commercial Capital makes these comments about the current SBA Loan situation against the backdrop of the proposed bailout package.
Eliminate the competition between the SBA's largest two loan programs – For decades, borrowers have been steered away from the agency's loan program for …
A Plan for Fixing the SBA Loan Programs
The Bailout has been passed and more funds are being requested now for the automotive industry.
But what about small to mid-sized businesses?
Here's a suggestion from Chris Hurn, CEO of Mercantile Commercial Capital.
Revamp the SBA's outreach efforts from top to bottom – The SBA should be headed by an administrator who has real small-business experience, and under the direction …
Is the Federal Bailout Package a Mistake? SBA Expert Speaks
What are the best ways to use the bailout money? In terms of small to mid-sized business, the SBA offers viable solutions.
Did you know that the federal bailout package is authorized by the United States Department of the Treasury and is called the Trouble Asset Relief Program or TARP for short?
Here's a suggestion from Chris Hurn, CEO of …
Who will be on your side this Thanksgiving?
I received an appalling phone call yesterday that you need to read about here. Since the Financial and Economic Crisis began in earnest several months ago, I've been getting more and more requests for appointments with small business lenders. Specifically, I've been getting resumes and job requests from SBA business development officers (BDO's) and bank commercial loan officers …
I just finished my monthly Live Small Business Success Strategies® TeleSeminar call, and this month I interviewed Bo Burlingham and Norm Brodsky, authors of The Knack: How Street Smart Entrepreneurs Learn to Handle Whatever Comes Up, and regular columnists in Inc. Magazine. Subscribers of our Series got many great insights, including how entrepreneurs should deal …
Can the SBA 504 Loan make a difference in our Economic Crisis?
The U.S. government's fiscal year ended at midnight, September 30th. That often maligned agency for small business owners and entrepreneurs, the U.S. Small Business Administration (SBA), just released fairly sad numbers for last year: their flagship 7(a) program was down 30.3% versus the previous year with only $12,671,136,000 in funded volume for 69,434 …
The Sky Isn't Falling, but the Ground is Swelling…
Groundswells occur, according to the dictionary, when there is an obvious change of public opinion or political sentiment. They tend to occur in the absence of leadership, which is exactly what we have right now in America. If you believe, as I do, that Manifest Destiny didn't just apply to our ancestors settling the West, then our …
I Need To Apologize For Something…
I probably don't need to tell you how crazy the financial markets have been lately, or describe the frenzied and frantic behavior of regulators, politicians, and pundits. We all KNOW! CNBC's ratings have skyrocketed! People are obsessed again (like in the late ‘90's) with the stock market's second-by-second gyrations. I'm sure productivity has …
This is political, so read it at your own "risk" . . .
[The following is my response to Peggy Noonan's opinion piece featured on the Wall Street Journal's website. Go here to read it now: "Palin and Populism."]
Very well done piece — she loses me a little in the final 3 paragraphs, but the opening exactly captures why she really did win last night. She didn't just win …
Not Every Lender is Frozen Right Now
I just received a phone call that is becoming all too common these past few weeks. A commercial real estate agent thought she'd take a chance to call us, just to see if we might still be lending.
Apparently, she has a deal that needs closing for two physician clients of hers . . . but their lender has …
Here's the last broadcast Trey and I did from the 2008 Inc. 500 Conference. We had just left the Awards Ceremony, a black-tie to-do, so you'll see us in tuxes. Get a good look — we aren't caught this dressed-up very often. All-in-all, it was good event. I enjoyed most of the speakers, and …
Inc. 500 - Pt. 3- Chris Hurn asks Questions (video blog)
As I mentioned in my previous video, the conversation on stage between Seth Godin (The Purple Cow) and Tom Peters (In Search of Excellence) was pretty interesting. You could that there was certainly a mutual respect between them, but they don’t agree very often. During the Q&A session, I posed a question to the pair about problems …
Here's a clip from Day Two of the 2008 Inc. 500 Conference. You'll get to see a little bit of the Gaylord National — the brand-spanking-new hotel where the conference was held — and I'll tell you about some of the speakers we got to hear . . . some good, some not so good. …
Here's the first of several videos from the Inc. 500 Conference in Washington, D.C. It's been a pretty good event so far. Most of the entrepreneurs here seem rather unfazed by everything going on in the financial markets, but I've met some folks who simply refuse to give up their dour mood. Hopefully things pick …
With the Dow Jones Industrial Average (DJIA) dropping 504 points yesterday and me being the "504 Expert," I thought it must be a sign to comment on that course of events. While Lehman's bankruptcy, Merrill's sale and AIG's capital call are indeed worrisome, the sky isn't falling for the American economy at-large. The financial markets …
Are you an "arm-chair judge" like me?
I have a confession to make: I haven't watched much of this year's Olympic Games at all. It's not that I don't want to — I'm HUGE fan of the Olympics. I love watching the world's best athletes compete at the highest level of their sports.
I simply haven't had time lately.
Contrary to what a lot …
As you may know by now, MCC has become "famous" for being the first commercial lender to always lead with the SBA 504 loan (AKA our SmartChoice Commercial Loan). Well, it seems that the "softening" in the economy and craziness in the mortgage industry has caused other lenders to give this little-known and under-used financing option a second look. …
I hope you made time to watch the video clips on SBTV.com I posted a little while ago (Finally, some GOOD news…). I've now been highlighted as one of their "Featured Advisors." They've posted about 9 audio podcasts on my Featured Advisor page on their site, so be sure to visit SBTV.com …
What If There Was A Recession — But You Didn't Attend? (Part 2)
Here's the second half of my conversation with Dan Kennedy. Again, it's a little long for a blog post, but I guarantee you'll find it to be an interesting and enjoyable read. Feel free to print it out and read it later. Maybe over the long July 4th weekend, which I hope you safely enjoy . . …
What If There Was A Recession — But You Didn't Attend?
What If There Was A Recession — But You Didn't Attend?
For those who don't know, Dan Kennedy is one of my personal mentors. He's a multi-millionaire serial entrepreneur; author of 11 bestselling business books (including two new ones we'll discuss here); a popular speaker; and, through his newsletters and networks of consultants and coaches, directly influences over 1-million business …
The "credit crunch" has been a major issue in the mortgage industry for quite a while now, and it has affected lots of business owners. But I'm just a little tired of the never-ending negative reports by the major news outlets. Sure, things have been rough, but there is light at the end of the tunnel, and I …
Having just gotten back from the NFIB's Small Business Summit in Washington, D.C. where an audience of business owners were addressed by the likes of Senator John McCain, Meg Whitman (former CEO of eBay), legendary quarterback and entrepreneur Roger Staubach, and several others, I went on the obligatory "Capitol Hill …
CDC/504 Marketing Program, version 2.0
For about a year now, I've worked with a number of CDCs through our CDC/504 Marketing TeleCoaching Program. The goal of this group is to learn and share how we (as proponents of the SBA 504 loan) can better market and promote this necessary financing tool for the small business community, and ACTUALLY IMPLEMENT effective systems and processes to …
"Easier said than done." That's what I've always told my employees, my business partners and my coaching members. In business, it's easier to say, "Just deal with it" or "just let it roll off your shoulders," than to actually take your own advice. Believe me, I KNOW. As you might imagine, we've been "talked about," copied …
We've changed the name of our Newsmagazine AGAIN!
After a couple months of publishing The Entrepreneur's Edge (MCC's Monthly Newsmagzine), we began trademarking proceedings. Lo and behold, Entrepreneur Press (the publishers of Entrepreneur Magazine and ironically enough of The No B.S. Guide to Ruthless Management of People and Profits by Dan Kennedy, in which I have a chapter) has decided that they "own" the word "entrepreneur." …
Mercantile Commercial Capital to Become a National Bank
We're proud to announce a new phase of our company, and a very unique opportunity we thought you'd want to be made aware of. Our company is taking the next, natural progression and morphing into a national bank (it will actually be acquired and become a division of the new bank). While this information will only have been public for …
What do The Celebrity Apprentice and MCC have in common?
If you watched the final episode of The Celebrity Apprentice, you saw Piers Morgan crowned as the winner. You also may have noticed that his charity was the Intrepid Fallen Heroes Fund – the same organization we made a significant contribution to during one of our Holiday Giving campaigns a couple years ago. …
NOW is the Best Time to buy commercial real estate.
Why would I stand up against the downpour of economic negativity all around us from pundits, talking-heads, and even many bankers? (Yes, we've even heard about life-long employee-bankers tell businesspeople not to buy property right now — maybe they're too inwardly-focused on their poor residential loan decisions.) Well for starters, there are commercial property deals out there that didn't …
Daughter and Daddy Holiday Weekend in New York City (Part 1)
So after meeting Heisman winner, Tim Tebow, the day before he won the award in the JFK baggage claim area, we proceeded to our hotel near Rockefeller Center for an early check-in. We then walked down 49th Street to see the sights at Rockefeller Center and get some Two Boots Pizza in the basement of …
A Boost of Optimism for the New Year
I'm a big believer in creating your own reality. Don't like something? Only YOU have the power to change it for better. When you dig a little deeper, some would call it a belief in self-fulfilling prophecies, though that usually has a negative connotation to it. I have a feeling you share this belief with me . . . most …
This is my favorite time of year because I'm reminded more than usual to be grateful for all the blessed bounty we have, to give more of myself to my loved ones, and to know with certainty of even better things to come in the future. This is a joyous season in so many ways, and I hope the …
Miscellaneous or as Alex might say on Jeopardy, "Potpourri"
By the way, I miss the old Saturday Night Live parodies with Daryl Hammond as Sean Connery making fun of Will Ferrell's Alex Trebek and with such classic Celebrity Jeopardy categories as: Words that Rhyme with "Dog"; The Vowels; Movies that Start with the Word "Jaws"; Hot or Cold; Foods that End in "amburger"; and my favorite, Colors that …
Our Year-in-Review "Fun Facts"
I've made it a habit to take some time at the end of every year to reflect on what we've accomplished — both as a company and personally. Here's an accounting of what we've been up to this year:
** Number of Speaking Engagements (in-person or via teleconference): 33
** …
How to Tell Better Stories (and Win Friends and Influence People)
If you're like me, you'll be around friends and family a lot over the next several weeks. I'm big on telling stories — I like to entertain the people around me and (I'll admit) I like to be the center of attention.
I learned a trick a little while back that makes stories and jokes much more effective, and …
I'm often asked, "Why do you just work with small and mid-sized businesses? There seems to be so much you could offer big companies, too." Well, I suppose we could, but we really don't have a desire to. And therein lies an interesting insight. We choose to work with small and mid-sized business owners. We enjoy their entrepreneurial zest, their …
Inspiration from the 400 Wealthiest Americans (Part 2 of 2)
In addition to being quite inspiring, if the backgrounds of America's wealthiest individuals are as "checkered" as some pundits would have us believe, then what's YOUR excuse?!? I mean, the chances that your family escaped a totalitarian government are fairly slim. You probably grew up in a much better setting than many of the people on the FORBES …
Inspiration from the 400 Wealthiest Americans (Part 1 of 2)
While flying back from a television taping in Palm Springs, CA earlier this month, I finished reading one of my favorite magazines. Every year, I devour the contents and usually hold onto the issue for months on end, regularly referring back to it. Now, some people will think that my behavior is a bit odd, but hopefully you're …
Some people in our culture get so disgusted and hung-up over discussions of “wealth” and “getting rich.” It absolutely amazes me, and it's really quite a shame. This, in spite of the fact that millions of books, CDs, magazines, newspapers and so on are sold each year portending to hold the “keys” to “getting wealthy.” This despite …
Marketing: Expense or Investment?
As my friend and a coach to the mortgage industry, Mike Midget, recently expressed in complimenting me about this, "You put more content in your newsmagazine month after month than newsletters I pays hundreds, if not thousands of dollars a year for. I can't believe you guys just give it away every month." Thanks for the kind words, …
Fielding 500 Questions (part 2 of 2)
Here are just a few more questions I fielded from the Inc. crew. Again, I didn't pull any punches in voicing my opinions… so "reader beware."
If you were in Congress, how would you vote, either for or against, on
each of the following issues? A. Pull troops from Iraq within the next 12
months. B. Increase funding or offer tax breaks for …
Fielding 500 Questions (part 1 of 2)
Now, I will tell you that the reporters at Inc. Magazine are some of the most fastidious I've ever come across. I had to submit and resubmit our corporate information at least three times, plus three different people contacted me to verify the accuracy of the information — and some of the information I submitted was our audited financials! …
We made the INC. 500 list!!!
We'll be somewhere on the 2007 Inc. 500 list of fastest-growing private companies in America. We don't know our ranking just yet, but we'll find out when the September issue of Inc. Magazine hits the newsstands. This is quite an honor for us. In fact, besides making it on the Fortune …
Back in March, I had the privilege of participating in an Office Condo Seminar in Miami, Florida. Several other real estate and lending professionals joined me, and we were able to answer questions from folks who are curious about commercial condominiums. Even though they're becoming more and more common, business owners still have questions about them and wonder …
This is the second installment of my Top Ten list that was published in the Orlando Business Journal. Read on to get the top 5 things to do when considering wealth-creation through commercial real estate ownership . . .
__________________________________________________________________________________________________________________________________
5. Consider adding other furniture, fixtures and equipment (FF&E) into your commercial loan — as long the FF&E costs are …
Another installment of my column in the Orlando Business Journal — part 1 of 2 . . .
10. Get organized — most competent lenders can give you a checklist of their needed documents immediately. Full documentation loans (like the ones we specialize in: 504's) are worth spending the extra time on in order to shave a couple hundred basis points …
The 2007 Hotel Investment Conference brought excitement to the Hospitality Industry never before experienced in prior years. The topics of focus included technology, finance, historic trends and expert predictions on the future of this burgeoning industry.
Listening to the featured panel speakers and attending each breakout session, I couldn't help but pick up on an underlying theme: …
Ideal Clients by Tony Zara, Vice President, Mercantile Commercial Capital, LLC
Mercantile Commercial Capital is focused on providing Smarter Financing for owners of small and mid-sized businesses who want to own their commercial properties. Since we've narrowed our scope to this particular niche, we are often asked IF and HOW we are able to help with certain loan scenarios. Due to the number of phone calls and emails we …
What Does the Masters, Easter and Spring Have to Do with Commercial Mortgages?
This time of year, three of my favorite things come along: the Masters golf tournament; the arrival of Spring; and the Easter holiday. Each of these is wonderful in its own way, and believe it or not, all three teach us something about commercial mortgages.
Spring and Easter are about renewal and about things not quite being what …
Reflections on Four Years in Business
Recent article from our newsletter by Chris Hurn . . .
_________________________________________________________________________________________________
This month we will officially be four (4) years old as a company. With that in mind, I think it's probably time to share some reflections about our beginning, and more importantly, about our "continuing." See, from Day One, I wanted to reinvent and revolutionize the business we're …
Happy New Year! Did you work on your goals from my first column? If not, don't forget to go to www.504blog.com to review it while you're still thinking about it. Best to start the New Year off on the right foot, and my free web-based gift to you is the perfect tool to help make 2007 your Best Year …
Free web-based tool for keeping those resolutions!
Part of my first article from our new column in the OBJ I thought might be helpful to share . . .
Welcome to the debut post of my fortnightly or bi-weekly column. I've been writing a blog for nearly six months (feel free to visit: www.504blog.com), but decided to write this column in an attempt to disseminate information to …
Recent article from our newsletter by Chris Hurn . . .
__________________________________________________________________________________________________
Like many, this is my favorite time of year — as much for the Holidays and "attitude adjustment" many people seem to go through, as for my exhaustion soon to be relieved. I'm usually exhausted physically, mentally and emotionally this time of year from another full year of mostly …
Do you think the SBA's adrift???
An article published recently by many of the American Business Journals addressed the current state of the SBA and what their extension until February 2nd will mean for the agency. (You can find the link to this article below). One of the biggest issues addressed was the SBA's 7(a) Program, a government subsidized program that always seems to be having …
Several months back, I think it was a month or two after we expanded into additional space last January which would have marked the fourth expansion of our company in less than four years, Geof and I decided that while we did have informal, casual Fridays on which we allowed employees to wear blue jeans, we were kind of …
"What's with all the 'ACE of Spades' references?"
That was the comment of at least one Member who read last month's Newsletter, and several more probably thought the same thing. By the time you're reading this, we will have just concluded our first-ever ACE Summit in Orlando. But let me back up a bit and explain exactly what THAT means. For some time, I've been wracking …
True and Brief Entrepreneur Story - Richard Branson
The founder of Virgin Atlantic Airlines, Virgin Cola, Virgin Mobile, and lots of other Virgin lines, Richard Branson, had no formal training, no education, no money, and no nothing and yet he became a billionaire at the age of 39. Apparently his mother was sitting down telling true stories about her son to the BBC one day, when they …
Now, an Intriguing Story about Taxes
A professor of economics, Dr. David R. Kamerschen, at the University of Georgia (as a Gator fan, it nearly pains me to type that), came up with the following story that I've summarized below. This is like one of those fables you may have heard when you were a child — the ones that make even the most complex ideas …
By the time you read this, I will have just barely submitted my 2005 personal income taxes prior to the extension deadline of October 16th. It's a hassle I have every year, not so much because I already look at tax returns all the time in our business, but mostly because it takes a HUGE amount of effort to …
Client Spotlight interview with Joe Bert of Certified Financial Group
Client Spotlight: Certified Financial Group Joe Bert started his financial planning business in hopes of providing others with financial advice he wished he had access to earlier in his life. Now with many years of experience under his belt, he is able to provide personal financial planning advice and has much to offer as a business owner as well. In …
The Leverage Power of Commercial Real Estate
I thought I'd share a fairly detailed, yet admittedly simplified explanation of something that we at MCC hold dear and attempt to communicate with small business owners daily: the leverage power of real estate. Right after owning your own business, investing in real estate gives you the highest potential return on investment (ROI). Using leverage power is the primary reason …
This article was written by George Livingston, Chairman of NAI Realvest. George is a member of MCC's Board of Directors and is widely recognized and sought out for his expertise in the commercial real estate community. The article discusses the current role of warehouse properties in the commercial real estate market. We would welcome your comments and suggestions on the …
The 504 Experts' Summer Loan Closings and CO's
June and July were busy months! We closed eight loans worth over 15.8 million dollars, and four of our clients completed their commercial construction and received Certificates of Occupancy on projects totaling over 5.3 million dollars. These clients included an early education center, an insurance office, a pizzeria and a deli cafe, among others.
All of these entrepreneurs have taken …
Recasting a Federal Agency: A Turnaround Blueprint for the New SBA Administrator
The U.S. Small Business Administration's (SBA) named a new Administrator: Steven C. Preston. This 22nd Administrator in has quite a job ahead of him, and among his many tasks are to resurrect the Agency — in image and in effectively delivering its programs. This is no small feat, and he'll need all of the suggestions and support available to do …
SBA 504 Loans: Eight Quick Tips You Need to Know Now
SBA 504 Loans: Eight Quick Tips You Need to Know Now
Get organized – most competent lenders can give you a checklist of their needed documents immediately. Full documentation loans (like SBA 504's) are worth spending the extra time on in order to get organized and shave a couple hundred basis points (100 basis points equals 1.0%) off …
Listening to each other to build a powerful resource . . .
One of the greatest reasons we had for starting this 504 blog is that as small business owners ourselves, we recognize the importance of listening to and learning from our clients and our valuable referral partners. We hope this SBA 504 Loan forum will be a great resource for both business owners wanting to build or buy their commercial properties, …
