Two years ago, we set an audacious goal of getting to $2 billion in total project costs funded by the end of last year. It turns out that we had two really good years and got really close to hitting that goal (probably closer than we realistically expected), but we’re sorry to say we fell just a bit short. We ended 2016 with a total of $1.937 billion, which is pretty dang close, but not quite $2 billion. According to our “$2 Billion or Bust” rallying cry, we busted. As is the case with big, audacious goals, that’s just the way it goes sometimes.
But on March 15th, we hit the $2 billion mark and we’re super proud of it. Not just because we reached the number we were aiming for, but because we’ve helped small businesses all over the U.S. finance over $2 billion worth of commercial real estate projects. Wrapped up in that humongous number are countless stories of business owners working hard to make payroll, take care of their employees, treat their customers right, and grow their businesses. But those stories aren’t actually countless — they number 665 and we’re proud to have had a small part in each and every one.
Not to downplay the fact that we didn’t meet the goal we set for ourselves, but we still jumped from $1 billion to $2 billion in record time, for Mercantile that is. It took us 10 years to log our first billion in total project costs funded, and only a little over 4.5 years to achieve the second billion. We think that says a couple things: 1) the market has been getting stronger the last several years, 2) we’re getting ever better at doing SBA 504 loans, and 3) we’re working with more and more people who trust us and believe in us and recommend us to their small business clients. We know we haven’t made it to $2 billion all on our own, and we’re so very grateful for everyone who’s helped us and worked with us along the way.
If you can play a part in helping more of America’s small business owners (and helping us clear the next big milestone), let us know. Call us at 407-786-5040 or email us at firstname.lastname@example.org. If you ever have any questions about the SBA 504 loan or how we can help or anything else for that matter, don’t hesitate to reach out. We’re here to help.
– Your 504 Experts