Three Commercial Loans Closed
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September 16, 2008
Mercantile Commercial Capital Reports it closed on Three Commercial Loans in August that total more $3.8 Million
by: Larry Vershel Communications
Tue Sep 16, 2008 at 11:03:35 AM EDT
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 office 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.
• Acquisition 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.
For more information contact
Chris Hurn, Mercantile Commercial Capital, LLC 407-786-5040
Robin Lashley, Mercantile Commercial Capital, LLC 407-786-5040
Larry Vershel or Beth Payan, LV Communications, 407-644-4142
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