Mercantile Commercial Capital, LLC, reports it closed on five commercial loans in May–including one in Alaska–that totaled more than $5.4 million

Posted by Lindsay Dicks on Jun 24th, 2008

ALTAMONTE SPRINGS, Fla. — Mercantile Commercial Capital, LLC, which specializes in U.S. Small Business Association (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reported it closed on five commercial loans in May that totaled $5,436,051.

 Christopher G. Hurn, president of Mercantile Commercial Capital, said one of the loans, which totaled $1,064,250, will finance the acquisition and renovation of a 7,600 square foot industrial facility in Anchorage, Alaska.

 Dynamic Energy Group, LLC, an electrical contractor and satellite television installer, borrowed the funds on a 25-year, fully-amortized term with a below-market five-year fixed interest rate and only 10 percent down.

 Other commercial loans in May included:

•           $1,482,801 to Apple Hostels of Philadelphia, LLC to acquire and renovate a three-story, 8479-square foot hostel facility with a 25-year, fully-amortizing term and a below-market five-year fixed interest rate, with only 10 percent down;

 •           $495,000 to Higgins Sport & Lawn, Inc., to develop and build a 4,500-square foot industrial facility in Syracuse, ¬IN, with a 25-year, fully-amortizing term and a below-market, five-year fixed interest rate, with only 10 percent down;

 •           $1,809,000 to Curran Martial Arts Academy, Inc., to acquire a 24,000-square foot martial arts academy in Crystal Lake, IL, with a 25-year, fully-amortizing term and a below-market, five-year fixed interest rate with only 10% down;

 •           $585,000 to Radiant Lighting Services, Inc., to acquire and renovate a 6,352-square foot industrial facility in Westminster¬, Col. with a 25-year term and a below-market five-year fixed interest rate with only 10% down.

 Mercantile Commercial Capital, LLC, is one of the nation’s leading providers of SBA-504 loans.   Since January, the firm closed on 19 loans for $28 million.

 

For more information please contact

Chris Hurn, Mercantile Commercial Capital, LLC 407-786-5040

Geof Longstaff, Mercantile Commercial Capital, LLC 407-786-5040

Larry Vershel or Beth Payan, LV Communications, 407-644-4142  

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