November Cornucopia of Closings!
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| MCC is pleased to announce the following five loans closed last month: |
Henricks and Associates, Inc. (Acquisition)
$760,000 |
Henricks and Associates, Inc. specializes in providing insurance and risk management services to a whole host of commercial entities as well as individuals. Their services include:
Property & Casualty Insurance Brokerage; Commercial Surety; Employee Benefits Insurance Brokerage & Consulting; Financial Services; Risk Management Services Including Loss Control, Claims Management & Other Consulting Services; and Personal Lines/Insurance Services.
We financed a total project cost of $760,000 for the acquisition and slight renovations of their 3,585 SF office building in Winter Springs, Florida with a 25-year fully amortizing term at a very attractive five-year fixed interest rate with only 10% of the total project amount down as their equity. This loan closed in only 35 days from first phone call to funding. It was also our 75th loan since we opened for business about two and half years ago and was referred to us by Billy Bishop of Bishop Realty (thanks Billy, a gift is in the mail to you!). |
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Please visit: www.henricksandassoc.com |
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Dall-Haus, LTD dba Culvers Frozen Custard
(Ground-up construction)
$1,648,000
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Dall-Haus, LTD was founded by husband-and-wife team, Richard and Carol Kendall, as the holding company for the ownership of two Culvers quick service restaurants. Culvers is a franchised restaurant concept with over 295 locations in 15 states primarily in the Midwest. Since George and Ruth Culver opened the first location in 1984, Culvers has earned a growing reputation for serving high quality, fresh food, and the Kendalls are dedicated to upholding that reputation. The restaurant in Marion, Iowa will be the third Culvers for the Kendalls, joining one in Cedar Rapids, Iowa and one in Hiawatha, Iowa. The two current Culvers owned by the Kendalls are no more than seven miles apart from their newly proposed third Culvers.
We financed the construction of this Culvers building in Marion, Iowa with a 25-year fully amortizing term at a very attractive five-year fixed interest rate with only 10% of the total project amount down as their equity. This was our first loan in Iowa and it came to us directly after Carol read an article (a link also appears later in this newsletter) Chris had written in Franchise Times.
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Missa, Inc. dba A&A West Indian Groceries, Inc.
(Ground-up construction)
$2,272,000
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Before incorporation in 1988, A & A West Indian Groceries started as a small grocery store serving their local market. In 1988, the company ventured into the wholesale arena and began distribution to stores and restaurants in the surrounding area. As the company became more profitable, Mohamed and Amena Assim purchased a refrigerated truck to begin meat delivery throughout the state of Florida, including the markets of Miami, Tampa, Orlando and Daytona. A & A now distributes Halal meats and West Indian Groceries throughout the entire state and have set their focus on serving retail grocers/stores and restaurants. Today, they manage over 350 customer relationships and have two locations in Orlando, FL.
We are providing construction and long-term permanent financing for the 20,000 SF building located in Central Commerce Park in Orlando, Florida with a 25-year fully amortizing term at a very attractive ten-year fixed interest rate with only 10% of the total project amount down as their equity. The Assim's were referred to us by Jeff Gindi at Colliers Arnold. (Thanks again Jeff - another gift is headed your way).
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S.D. Martin Financial Services, Inc.
(Office condo with tenant improvements)
$315,000 |
S.D. Financial Services was founded by Scott Martin and operates as a Raymond James-affiliated financial planning firm in business since 1994. His firm conducts educational workshops on retirement planning for Fortune 500 corporations, small businesses and the general public.
For Scott, helping executives and upper level employees make smart choices about their money so they can maintain their current lifestyle long into retirement, is very rewarding work. He enjoys guiding his clients as they implement the customized investment strategies that help them meet financial and life dreams. Scott assists his clients in applying these “client-centered” principles in universal ways that benefit the people that apply them.
We are providing long-term financing for a 1,434 SF office condo located in Lake Mary, Florida with a 25-year fully amortizing term at a very attractive five-year fixed interest rate with only 10% of the total project amount down as their equity. Scott came to us after reading one of our ads in a local paper.
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Please visit: www.valueaddedideas.com
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Preferred Insurance Consultants (Office condo with tenant improvements)
$512,100 |
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Preferred Insurance Consultants Corp. was formed in May 2005 with the purpose of acquiring an already established company called Zagales Insurance, Inc. (an Allstate-affiliated insurance agency). This company had been in the North Miami market since 1999.
Jorge Ruiz has been in the insurance industry for the past five years and his strong involvement in the community entitled him to confidently acquire this company and become his own boss. His knowledge and understanding of the people in his community helps him provide customers with an outstanding level of service. Mr. Ruiz looks forward to helping people protect the things that are important to them – their families, homes, cars and more. He also helps his clients prepare strategies to achieve their long-term financial goals.
We are providing long-term financing for a 1,097 SF office condo in North Miami Beach, Florida with a 25-year fully amortizing term at a very attractive five-year fixed interest rate with only 15% of the total project amount down as his equity. This deal was bubbled-up by Janet Garcia, our Vice-President of Business Development in South Florida.
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| Please click here to see other VERY MERRY Past Projects on our web site. |
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"Freedman and Michaels represented a client who used Mercantile Commercial Capital to finance their acquisition of a business property on Florida's west coast. My client had significant deadline constraints, and I have never seen a lender mobilize so many professionals, within 24 hours, to meet a last minute closing deadline. They were quick, competent and professional, and I would eagerly recommend them to anyone needing commercial property financing."
- Linda M. Michaels
Partner
Friedman, and Michaels, P.A.
Law Firm
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MCC November Construction CO's!
MCC is pleased to announce the following two loans finished construction and received Certificates of Occupancy (CO's) last month:
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New Tampa Professionals
$2,546,998 |
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New Tampa Medical Clinic will be managed by Dr. Suvarna Nomula and will offer the New Tampa and Wesley Chapel communities primary care, general medicine, family care, long-term patient care and women wellness care. The practice will also serve as a walk-in clinic for patients with emergency-related needs.
New Tampa and Wesley Chapel are some of the fastest growing neighborhoods in the state of Florida with over 30,000 new families moving into these communities last year alone. The company’s principals believe that this market is severely under served in terms of a doctor/patient ratio. New Tampa Medical Clinic plans to take advantage of this opportunity and provide medical services to the entire spectrum of clientele, including geriatric patients.
We provided construction and long-term permanent financing for the ground-up construction of their facility located in Tampa, Florida with a 25-year fully amortizing term at a very attractive ten-year fixed interest rate with only 10% of the total project amount down as their equity.
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Consumer Connections
$1,647,000 |
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Consumer Connections Corporation, organized on July 3, 2000, is a premier full-service marketing research firm founded by Madelyn Sutphin. Her 23 years in the industry has enabled her to provide comprehensive quality service to several Fortune 100 companies.
Some of the customers of her company include: General Mills; Proctor & Gamble; Fridgidaire; Dial Corporation; Firmenich; McNeil Pharmaceuticals, Kennedy Space Center; Oceanspray; PUR Water Filters; and Nielson Media Research.
We provided the acquisition and significant construction financing for their 8,309 SF office facility located in Apopka, Florida. We have also provided the long-term, permanent financing with a 25-year fully amortizing term at a very attractive ten-year fixed interest rate with only 10% of the total project amount down as their equity. |
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Please visit: www.myconsumerconnection.com |
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New Monthly Column:
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| For this first column, a message from Chris: |
Late last month, my wife and I handed our 4 year old daughter, Julianna, a Disney catalog that had come in the mail and asked her to go through it to circle some of the toys that she wanted to let Santa know about bringing her for Christmas. We looked back a couple minutes later and noticed that she was circling every toy on every page. My wife then turned to her and said, “Julianna, you can’t have every toy in there – Santa has to share his toys with other kids too – you should only pick a few toys that you want to ask Santa for.” To which my precocious daughter replied, “But Momma, I’m going to make Santa cookies. No other kids are going to make Santa cookies.” I quickly stepped-in to explain that she'd probably have some competition from other kids' cookies too, but my young negotiator (I firmly believe kids are some of the greatest negotiators alive) obviously recognizes the dynamics of value-added and quid pro quo. The irony is that many businesspeople still don’t seem to understand and apply these concepts as often as they should. I’m sure many understand it intellectually, but far too few understand it on quite the same "base" level that my daughter understands it. When you’re giving extra service, extra value, extra whatever, you are perfectly correct in expecting something (probably their order/business) in return.
Businesspeople going the extra mile do it NOT to spin their wheels, but to differentiate and add more value to get more business. Whether we choose to accept it or not, buying decisions are usually made not based on the lowest common denominator (price) alone. Buying decisions are made because of perceived value-added and sometimes even quid pro quo's. As we get ready to start a New Year, these are good things to ponder, apply to your business, and consider in your daily purchases. |
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Common SBA Loan Myths Demystified
“SBA loans take too long.”
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We give 24 hour pre-approvals that our clients can stand-behind with confidence after receiving only 7 items.
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We generally issue loan commitments in 3 or 4 days.
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The SBA has our client's documents for an average of only 48 hours.
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Specialists, like us, can provide simplicity to an otherwise sometimes daunting process. And by the way, the tragedies from the Hurricanes this Fall, haven't slowed down our approval process one bit.
“SBA loans have too many fees.”
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This is a fact for SBA 7(a) loans, but that’s not what we exclusively specialize in. There are several different SBA programs, each with different fee structures.
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SBA 504 loans with us average about 25-30 basis points (0.25-0.30%) higher for origination fees than ordinary commercial bank loans, but for better credits, this can always be negotiated.
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In getting the highest cash-on-cash return available in the commercial mortgage market and the kind of fanatical customer service we've become known for, this is a small and reasonable investment for most small business owners contemplating commercial property ownership.
“SBA loans have too much paperwork.”
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We’ve streamlined everything to be almost exactly what an ordinary commercial bank loan would require for approval.
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All of our clients' scanned documents are “dragged-and-dropped” onto our CDC Partners'/SBA’s secure servers (this saves the time of even doing overnight mail).
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“SBA loans are only for the worst borrowers or for start-ups.”
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Nearly all of our clients are very bankable--some have $30 million in revenues, while our typical ones have $2 million to $10 million in sales.
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Our primary competitors aren’t other SBA lenders, but our borrowers’ current banks.
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The equity savings gained from SBA 504 loans are meant to provide economic development and stimulation (i.e. job creation). Unhealthy companies cannot do this. Some of the other SBA programs are for businesses more in their infancy, but the 504 clearly is NOT.
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The SBA is a very different agency than it was even five years ago.
“SBA loan rates are higher.”
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Our blended, effective interest rates are as competitive as (or in many cases cheaper than) our competition's pricing.
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The government-guaranteed second mortgages on 504 loans are the CHEAPEST money available for typical small business owners buying commercial property. There isn’t a bank that can compete with an interest rate of 6% (where the SBA bond rate has hovered for most of 2005) fixed for 20 years with only 10% equity down.
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When borrowers know about us, other lenders find it VERY difficult to compete against us because of our value-added services, our expertise, and our terms and pricing.
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MCC Events!
Please join us at the following upcoming events:
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Condominium Summit on Thursday, January 5, 2006
(7:30 a.m. until 4:00 p.m.) - Condominium Summit 2006, at the Marriott Beach Harbor Resort & Spa in Fort Lauderdale, FL. Chris will be a panelist at this first-ever event which will provide a focused opportunity to hear from leading investors, lenders, and developers in all types of condominium properties, from residential to hotel to office and industrial . . . (more).
Save the Day: Thursday, February 23, 2006
MCC's 3rd Anniversary Open House Bash
It's hard to believe that MCC is almost three years old! We would like our valued clients and business partners to join us in celebrating this momentous occasion. Details will soon follow. This exquisite evening will give you the opportunity to visit our new offices and meet all of our team (many of them new, too). We'll make this event well worth stopping by for. The building code only allows us to have 279 people at our offices at any given time, so we're starting to take reservations for those limited spots now as we came close to that number last year.
Reserve your spot now for our open-house event!
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MCC in Las Vegas!
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MCC recently attended the Restaurant Finance & Development Conference in Las Vegas. Pictured are Chris, Juan and Geof in front of our booth (left) and Geof (right) addressing conference attendees during his "Deal" presentation. |
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"For our first commercial financing experience, the process can be somewhat overwhelming. After speaking with several local and regional banks, MCC was able to put together a unique financing package to meet our needs. The entire staff at MCC made the financing process very easy so we could focus on our building and our core business. Even after the deal was closed, Chris and Geof took the time to monitor and counsel us throughout construction and the draw schedule. When we need future commercial financing needs, we will absolutely use MCC.”
- Keith Kemp
Co-owner
Xerographic Digital Printing
Client from 2004
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MCC in the News!
 SBA, Commercial Condos Boost Lending in Commercial Real Estate
An already-solid commercial lending market in Central Florida has been substantially enlivened by two factors: the recent wide availability of low-cost Small Business Administration (SBA) 504 financing for small business owners who want to acquire or develop their own facilities and the increasing availability of condominium office and industrial facilities . . . (more). |
|  The SBA 504: For Franchisees Who Want to Acquire or Develop Their Own Facilities
Forget everything you've ever heard about the U.S. Small Business Administration. Wipe the slate clean. The negative connotations may have been warranted in the past, but the SBA is different these days. It's no longer a four-letter word. And like many things in our modern, technology-laden world, even the SBA has become user friendly. The SBA is worth every penny of its more than $22 billion budget on the basis of a single program alone: the SBA 504 Loan Program for small business owners who want to acquire or develop their own facilities . . . (more).
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 Lender Taps into Commercial Condo Niche
When ADS Telecom Chief Financial Officer Brian Millard needed a small business loan to buy an office condominium in Maitland, he says he knew exactly who to call. Having financed property before through Mercantile Commercial Capital LLC, Millard returned to Chris Hurn, President and CEO, and his lending staff . . . (more). |
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MCC Accomplishments!
New Promotion and Hire!
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Robin Lashley
Robin was recently promoted to Marketing Associate. Prior to joining MCC, she held administrative positions in the Business Office at Harding University (where she earned her Bachelor of Business Administration degree in Marketing), and also at Covington and Burling, a large law firm in Washington, D.C. In Robin's new position, she will be assisting the company in marketing, public relations, business development and advertising as well as maintaining our burgeoning database of clients and referral sources. |
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Jennifer Joyce
Jenn was hired this month as Administrative Assistant at MCC and is the voice you'll most likely hear when you call us. Her primary responsibilities include general office administrative duties, assisting with company direct mail projects, data entry, maintaining the company's loan and contact databases, and various other ad hoc projects. Jenn was formerly with the accounting firm of Davis, Graham & Stubbs, LLP in Denver and has eight years of experience.
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New Chairman of the Orlando/Sanford International Airport
Geof Longstaff, the Chairman at MCC, was recently elected the new Chairman of the Board for the Orlando Sanford International Airport . . . (more).
New Member of the Local Board
Marketing Director at MCC, Robyn Moran, was recently elected to the Commercial Real Estate Women's (CREW) Board of Directors for the 2006 calendar year. CREW Orlando, formed in 1987, is the local chapter of CREW Network, an international organization comprised of 6,000 members in 58 chapters.
New Graduate of Leadership Orlando
Tony Zara, loan officer at MCC, recently graduated as a member of class number sixty-six (66) of Leadership Orlando. Leadership Orlando is a community leadership program of the Greater Orlando Regional Chamber of Commerce designed to make Central Floridians become connected and engaged community leaders. In accomplishing this purpose, Leadership Orlando classes meet for a series of nine day-long sessions over eight months.
MCC Nominated for Lake Mary/Seminole County Regional Chamber of Commerce's "Emerging Business of the Year Award"
The Emerging Business of the Year Award is presented to a company based in Seminole County, that has been in business less than five years and shows promise due to great strides in business and/or shows extreme growth since its creation.
Chris Hurn Nominated for the SBA's "Financial Services Champion of the Year Award"
Chris Hurn was nominated for the second consecutive year to be the SBA's Financial Services Champion of the Year in Florida. This award is for an individual who assists small businesses in obtaining financing directly or through advocacy efforts to increase the availability of accounting or financial services. Chris has been recognized again as a “Champion” for the service he provides and his prominent leadership role in the small business community of Florida.
Our 1st Annual MCC Third Party Award Categories:
- General Contractor of the Year
- Construction Project of the Year
- Office Real Estate Broker of the Year
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- Industrial Real Estate Broker of the Year
- Mortgage Broker of the Year
- Architect of the Year
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Please email us TODAY if you would like to make a nomination.
To be in contention, the deadline is December 31st, 2005. SO HURRY!!!
We will announce the winners, hand out awards and prizes in late-January of next year! |
Look for these NEW features in our up-coming newsletters:
New for 2006, each month we will highlight one of our past clients. In January, look for an insightful interview with Madelyn Sutphin of Consumer Connections by Marketing Manager, Trey Colson.
Also, look for an interview each month with one of our valued referral partners. The first of these monthly installments will feature Billy Bishop of Bishop Realty and Development.
- Curmudgeon's Corner (see at right)
Each month, our crusty and sometimes ill-tempered miser will spout off about things that get his goat. Our staff will, in turn, answer his questions and attempt so solve his problems. Tune in to see what he's got in store for us in January, but don't worry, his bark is much worse than his bite . . .
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Holiday Card
This year our "A" list got a hard copy of our Holiday Card (below) because they're close friends, clients, or referral sources that have sent us deal opportunities. To get on our "A" list and get a card (and much, much more), send us your referrals in 2006. We hate to be so blunt, but our resources are not infinite, so we have to be selective. Remember, we're never too busy to make time for you, any friends or family members you'd like to refer our services to, so make sure to select us for your clients next year! |
The inside of the card said the following:
Top: Cast of Characters “Real” Name Actual Title
(Starring center stage)
Santa Claus |
Chris Hurn |
President/CEO/Cofounder |
Father Time |
Geof Longstaff |
Chairman/Cofounder |
(And from left to right)
Head Global Elf |
Juan Amo |
Loan Officer |
Head Female Elf |
Robyn Moran |
Marketing Director |
Head U.S. Elf |
Tony Zara |
Loan Officer |
Nativity Angel |
Angela Hardee |
Closing Assistant |
Cindy Lou Who (the Grinch’s Friend) |
Robin Lashley |
Administrative Assistant |
Pilgrim Mom |
Dawn Yannucci |
Closing Manager |
Marketing Pilgrim |
Adam Wonus |
Marketing Assistant |
Big Chief |
John Atchley |
Loan Officer – Chicago |
Big Chief’s Sister |
Janet Garcia |
V.P. of Business Development |
Tallest Pilgrim |
Trey Colson |
Marketing Manager |
Turkey |
As Himself |
Ordinary Lender |
Bottom: Much like Santa, his elves and the gang at Plymouth Rock, we’ve worked hard this year to earn your business.
We take this opportunity now to:
Be thankful for your business, support and referrals;
Wish you and yours the Best Holiday Season ever; and
Resolve to work with you even more in 2006 to
Fulfill More Dreams with Smarter Financing (sm).
The Employee-Owners and Staff at
Mercantile Commercial Capital, LLC
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This insert was also included in the Christmas card:
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Also, if you didn't receive a Christmas card, please accept our apologies. The Post Office returned one, but the recipient's address was nowhere to be found -- it was literally torn off! So if you feel that you should have received one, but didn't, this one was probably meant for you, and we'll send out another one if you contact us right away! |
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Do you know Someone who wants to own Commercial Property?
Tell us by calling 407-786-5040 or sending us an email at info@mercantilecc.com. With MCC, you could receive a valuable gift certificate and can be assured that your friend or client will be taken care of properly, professionally, and expeditiously. Give us the chance to earn your business.
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Warning:
DO NOT BUY OR CONSTRUCT COMMERCIAL REAL ESTATE BEFORE SPEAKING WITH US!
(It could get you on Santa's "naughty" list.) |
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For more information about MCC or our 504 Loan Program that provides 90% loan-to-cost financing of owner-occupied commercial real estate with longer amortizations at below market, longer-term fixed interest rates, please visit us online at www.504experts.com or call us toll free at 1-866-MCC-4-504.
In Central Florida, please call 407-786-5040 or email us at info@mercantilecc.com.
In South Florida, please call Janet Garcia at 305-632-1992 or email her at jgarcia@mercantilecc.com
In Illinois, please call John Atchley at 630-640-1528 or email him at jatchley@mercantilecc.com.
Nationwide, please call 1-866-MCC-4-504 or email us at info@mercantilecc.com.
Respectfully yours,
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Christopher G. Hurn
President/CEO/Cofounder
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G. Geoffrey Longstaff
Chairman/Cofounder
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Fulfilling Dreams with Smarter Financing(SM)
Merry Christmas and Happy New Year!
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