Lending “Troubles” a Boost for Small Business Commercial Loans at Mercantile Commercial Capital

ALTAMONTE SPRINGS, Fla. – Widespread troubles in the subprime residential and CMBS lending markets may prove a boon for one real estate mortgage niche – small business owners wanting to acquire or develop their own facilities. That"s the niche Mercantile Commercial Capital has focused on for the past four and a half years exclusively, and business continues to grow.

The firm, which boasts a network of more than 20 correspondents in eastern states, will launch a major expansion this November to focus on western states.

“We"re busier than ever,” said Chris Hurn, president and chief executive officer of Mercantile Commercial Capital. The subprime problem that is consuming other lenders means we"re seeing clear skies in all directions,” he said.

“Mercantile Commercial Capital"s market niche isn"t exposed to the problems that effect much of the rest of the mortgage market,” Hurn said.

“The dynamics in our market are just different,” Hurn said.

“We"ve never provided residential mortgages; we"ve never financed speculators; we"ve never had a default. Our collateral is always high-value commercial properties for business, and our clients generally don"t borrow to take out equity, they borrow smartly to create wealth while growing their businesses — increases their revenues and profits and creates more jobs,” Hurn said.

Since January, Mercantile Commercial Capital has closed 32 loans that totaled more than $40 million in project costs. About half of the firm"s clients are located in other states –– in August, the firm closed loans in Pennsylvania, Ohio and Texas, in addition to Florida.

Hurn said he expects loan volume to grow by more than 100 percent over the next 12 months.

Mercantile Commercial Capital ranks as the largest SBA 504 lender in the Southeast. INC. Magazine recently named Mercantile Commercial Capital to its Inc. 500 list for 2007 (at #245) of fastest-growing companies in the U.S. It was the highest ranked Metro Orlando company on their list.

For media information, contact
Chris Hurn, President / CEO, Mercantile Commercial Capital, LLC 407-786-5040
Robin Lashley, Marketing Manager, Mercantile Commercial Capital, LLC 407-786-5040
Larry Vershel or Beth Payan, LV Communications, 407-644-4142