MCC Loans Close Over $3.8 Million
Mercantile Commercial Capital Reports it closed on Three Commercial Loans in August that total more than $3.8 Million
Altamonte Springs, Fla. – Mercantile Commercial Capital, LLC, 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 three commercial loan projects in August totaling $3,892,000.
Christopher Hurn, president and chief executive officer of Mercantile Commercial Capital, said SBA-504 financing, which offers below-market interest rates and only 10 percent down, will help enterprises in Kerrville, Tex., Peverly, Mo. and Harvey, La. create more than 30 new jobs.
"The SBA-504 program currently ranks as one of the U.S. government's most productive jobs-creating programs," Hurn said.
"In a market recovering from a mortgage lending crisis, the SBA-504 program is a particularly effective economic stimulant as well," said Hurn, whose firm ranks as one of the nation's most productive SBA-504 facilitators.
Mercantile Commercial Capital's August loans included:
-Acquisition of the 5,500 square-foot Billy Gene's Restaurant facility in Kerrville, Tex. With a total project cost of $1,942,000.
-Acquisition and renovations for a 26,000 square-foot office/warehouse and manufacturing facility for Vicon Machinery, LLC located in Peverly, Mo. with a total project cost of $435,000.
-Acquitision of a 5,000 square foot daycare facility in Harvey, La for Woodmere Day Care Center with a total project cost of $1,515,000.
