Mercantile is off to the races in 2017

Off and Running

It’s always nice to start the year off right, and in our case we had an amazing Q1 for the second year running. We matched our all-time best quarter with over $88 million in total project costs financed.

We closed 18 loans in seven states (California, Florida, New Jersey, North Carolina, South Carolina, Texas, and Virginia) in various industries and for multiple property types. We financed the ground-up construction of several hotels, the acquisition of an industrial building for a cabinet fabricator, the purchase of an industrial building for a custom builder, the purchase and renovation of an office space for a law firm, and the acquisition and improvements of a commercial warehouse for one of the leading Original Equipment Manufacturer (OEM) supplier of automotive lights in the United States. We also completed the refinance of three bed and breakfast inns in California.

We’re not listing all of these to brag of our closing achievements (ok, maybe we are). But more than anything we want to let you know that our loans come in all shapes and sizes (our smallest transaction was $500,000 and our largest was $17.5 million). If you or one of your clients are looking to buy, build, renovate, or refinance owner-occupied commercial real estate, you should give us a call. We’ll let you know how we can help and we’ll take it from there.

We’re looking forward to working with you!

– Your SBA 504 Experts

P.S. We don’t want to jinx things, but our second quarter has been off-to-the-races, too. In April we closed six more loans, bringing our all-time total to 677 loans closed for just over $2.047 billion financed in total project costs. Again, more than tooting our own horn, it’s evidence that we know what we’re doing when it comes to small business commercial real estate financing, and you can trust us with your projects or those of your small business clients.


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