MERCANTILE COMMERCIAL CAPITAL, LLC

The 504 Experts

 MCC NEWS
April 12, 2005

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MCC has had a very busy first quarter with plans to be even more active going forward. The company closed nine commercial loans that totaled more than $10 million in its first quarter! In March alone, the company had four closings worth over $5 million.  Please visit the past projects page of our website for more information on these and other buildings we've financed.

Below is a recent article reprinted from the Scotsman Guide Commercial Edition this month:

 

Hit the Small-Business Jackpot with SBA 504 Loans

By Christopher Hurn, President and CEO

Mercantile Commercial Capital, LLC


For small-business owners, commercial real-estate investment is the hottest new retirement asset. We’re not talking about Real Estate Investment Trusts (REITS). I’m referring to purchasing new, leased or developable commercial facilities. Small-business owners can thank the U.S. Small Business Administration (SBA) for this rather substantial opportunity.

The SBA sponsors a specialty-lending program, 504 loans, which is designed to help successful small-business owners acquire or develop their own facilities. The SBA did not design the program as a vehicle for creating superior retirement assets, but it doesn’t take a financial genius to connect the dots — and the business-owners who have done so already are profiting enormously from their decisions. If a banker failed to mention the 504 program as an alternative, don’t despair; the program has been around for nearly 20 years but is not promoted well. Traditional lending institutions prefer conventional financial instruments that offer them greater profit margins.

The SBA 504 program is intended to benefit small-business owners, not necessarily the financial community.

Here’s what SBA 504 loans offer qualified small-business owners:

  • Below-market, fixed-interest rates.
  • Longer terms.
  • A cash investment for as little as 10 percent of the total project cost.

Read more from this article on the hottest new retirement asset...

 

 

MCC March Closings!

MCC is pleased to announce the following four loans closed last month:

 

         

  

  Top of Daytona

$ 1,103,300

Pacific Realty purchased Top of Daytona Oceanfront Restaurant and Lounge in Daytona Beach. The restaurant serves fine Italian American cuisine from the tallest oceanfront dining room on the World’s Most Famous Beach. These new operators and the restaurant's  Executive Chef have developed a superb reputation throughout the area and have attracted people to the restaurant from all over Florida. 

In addition to traditional food service, Top of Daytona can be booked for special events, wedding receptions, rehearsal dinners, anniversaries, parties and celebrations, awards banquets, and much more. 

http://www.topofdaytona.com 

 

 

DSMJ

$1,034,778

MCC financed the construction of DSMJ's new medical office in order to house two thriving practices: Seva Family Care and Desai Surgical Care.

Seva Family Care, P.A. is a family medical practice providing family care to patients in Northern Hillsborough County, Florida.  Seva Family Care offers services in primary family medicine and has the capabilities of diagnostic services, such as laboratory, x-ray, and ultrasound.  Seva Family Care renders medical care that includes Primary Care, Newborn Care, Urgent Care/Walk-in, Women’s Health, Vaccines, and Preventative Care.

Desai Surgical Care, P.A. provides exceptional general surgical services to patients in need. 

 

 

 

Hill of Beans Coffee

$1,846,450

In the mid 1900s, Great Grandpa Bill and his brother Teddy began Korbin & Company, a coffee brokerage firm on Wall Street. Their seat on the coffee exchange and business conducted with a firm handshake, earned them a trusted reputation as importers and cuppers for the largest coffee buyers in our country. In 1948, after completing law school, Bill Jr. joined the family firm. He traveled throughout Africa and South America to purchase Estate Coffees. In Ethiopia, Bill Jr. befriended Emperor Haile Sellassie and established scholarships for future generations of coffee growers. For a while, Bill Jr. served as an attorney for the green coffee association, lobbying against the proposed price fixing of this popular commodity.

In 1993, his granddaughter, Ellen Korbin, and great-grandson, Ryan began a Florida company, with the purpose of providing coffee and espresso to the Orange County Convention Center clients in Orlando, which is the second largest convention center in the country. Today they have 5 big carts and 4 small carts in the Convention Center, where after 11 years of serving in this location they have served more than 1 million beverages. They also have 3 funnel cake kiosks in the Central Florida Theme Parks (Typhoon Lagoon, Blizzard Beach and Epcot Center), serving over 100,000 cups of coffee and espresso a year.

The company is in the process of building their first “Deli Café”. This expansion of their business has a seating capability of 72 people and a Drive Thru.  The Café will offer a breakfast menu of freshly prepared food, gourmet espresso based beverages, and a dine-in menu of an upscale deli featuring the finest quality of bagels, meats, homemade soups and salads, and a catering menu with enticing appetizers. 

                                                                http://www.hillofbeanscoffee.com

 

Boardwalk Pizza

$2,546,425

Boardwalk Pizza is a pizzeria that was started in 1989. This new Boardwalk Pizza, which is the second location, will be located across from UCF at the southwest corner of Alafaya Trail and Econ River Place in Orlando, Florida. The restaurant is family-friendly and receives great reviews for its pizza as well as other dishes including cheesesteaks, calzones and pasta dishes.

 

 

SAVE THE DATE!

MCC's First Annual 504 Day (5/04)!!!

Come Celebrate Cuatro de Mayo!

Be our guest for great conversation, food and margaritas!

 

Please Save the Date...


When: May 4, 2005
Time: 5:00pm - 8:00pm
Place: Habañeros


           220 Wekiva Springs Road,
           Longwood, Florida 32779

           Map...


Please RSVP to Robyn Moran at 407.786.5040 or info@mercantilecc.com

For more information about MCC or our 504 Loan Program that provides 90% financing of total project costs with longer amortizations at below market, fixed interest rates, please visit MCC online at www.504experts.com, or call toll free at 866-622-4504.

 

Respectfully yours,

Christopher G. Hurn

President & CEO

G. Geoffrey Longstaff

Chairman

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