2017: Year in Review

Even though we’re more than halfway through January, we’d still like to wish you a happy New Year. With our first email of the year we want to take a moment to share our results for 2017. We closed 44 loans for more than $311 million in total project costs financed.

2017 Year in Numbers

Nationwide SBA 504 Lenders

We closed those loans in 15 states, representing the second most states in a year. In our 15 years in business we’ve closed loans in 40 states plus Puerto Rico and the District of Columbia. We’ve worked with countless banks and CDCs in those states so we have the relationships to get your loan closed anywhere in the US, and we’d love to eventually be able to say we’ve closed at least one loan in every state (. . . looking at you, Dakotas!)

What's Trending in 2018 for Mercantile

Job Creation

A main component of the SBA 504 Loan is job creation/retention. The loan is designed to help business owners create jobs though commercial real estate ownership, and that’s something that really makes what we do worthwhile. In 2017, the loans we closed helped create or retain 1,235 jobs also the second highest number for a single year.

All time numbers for Mercantile as for December 31, 2017

Closing in on 700 loans

To date we’ve closed 699 loans for more than $2.2 billion in total project costs financed. We would have loved to have ended 2017 with a nice round number, but it now means our first loan of 2018 will help us pass another milestone. Having said that, can you help us get to 800 loans financed?

If you, or someone you know, is looking to buy, build, renovate, or refinance their owner-occupied commercial real estate let us know or send them our way. We’d be honored to talk to you, or them about the project and see how we can help. We’re here to help.

– Your 504 Experts

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