Friday, July 6, 2012
Mercantile Capital Corporation Provides Financing for BBQ Restaurant in Rocky Mount, NC for Over $2.5 Million
Mercantile Capital Corporation, one of the nation’s largest providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, closed a commercial loan recently for Gardner Foods, Inc. dba Gardner’s BBQ for $2,500,000 in total project costs.
Gardner’s BBQ is a full-service restaurant specializing in country cooking and eastern North Carolina barbecue.
This particular location, at 1331 N. Wesleyan Blvd, is one of three in Rocky Mount, and offers a take-out menu with a drive through, as well as wholesale and catering services.
Financing was provided by Mercantile, as well as Zions National Bank, and the transaction was originated and orchestrated by Joe Arie, of Fidelity Bank.
“Since Jan. 1, Mercantile Capital has closed 44 commercial loans, including Gardner’s BBQ,” Hurn said. “This is double what we closed by this time in 2011, 2010, or any other calendar year in our history.”
Mercantile Capital closed 57 loans during all of 2011, its highest yearly total ever.
The SmartChoice Commercial Loan Program helps small business owners, like John Gardner, Jr., have an opportunity to create wealth and financial freedom. Their specialization in SmartChoice Commercial Loans, also known as SBA 504 loans, allows borrowers to own their commercial property with the highest cash-on-cash return financing available.