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Firm Set to Rename SBA 504 Loan Program as Part of Transaction 

ALTAMONTE SPRINGS, Fla. — Mercantile Capital Corporation (formerly known as Mercantile Commercial Capital, LLC) chose its first operating day as a new entity to announce a landmark new federal program for the nation’s small business owners.  

After months of closed-door negotiations with government officials, the Orlando-area based commercial lender has agreed to assume and service the small business loan portfolios of now defunct Wall Street firms, Lehman Brothers and Bear Stearns – both of which originated hundreds of millions of SBA 504 loans over the past decade.  Moreover, for an undisclosed sum, Mercantile will be granted “preferential status” in providing SBA 504 loans nationwide and given “naming rights” for the SBA 504 loan program.  In a unique “swap-arrangement” that demonstrates the Obama Administration’s creative spirit in working with the private sector and a need to raise revenues for the Treasury, Mercantile will maintain the servicing for these 504 loans, while the SBA confers to Mercantile the option to provide all SBA 504 first mortgages for the remainder of fiscal year 2009 and all of fiscal year 2010.  Along with this groundbreaking exclusivity, Mercantile has 30 days in which to change the poorly named “504” moniker.   

“This is obviously a very big day for Mercantile,” said Chris Hurn, Chief Executive Officer of Mercantile.  “We spent a considerable amount of time and capital to negotiate this deal – to service what may turn out to be ‘toxic’ assets from failed financial institutions, but in exchange we’ll become the SBA’s exclusive provider of 504 first mortgages and get to rename the program for the next 18 months,” Hurn stated. 

Hurn’s business partner and the Chairman of Mercantile, Geof Longstaff, was equally effusive, “Our standing as one of the nation’s leading 504 lenders positioned us as the ‘go-to players’ to get this deal hammered out.  The government wanted experts like us to take care of these specialized loans and was willing to let us take the lead in thawing-out the frozen small business lending industry.” 

“The fact that we’ll get to rename the SBA 504 within the next 30 days was simply icing on the cake for us,” said Hurn. 

Treasury spokesman, Dr. Lopo Flairs, commented, “The new Administration has chosen to be more creative – to throw the proverbial box out the window.  This deal with Mercantile is a good example, as it accomplished our administrative needs while raising needed funds.  The fact that the 504 loan program will get a new name for a few years is actually a plus for all parties involved.  No one really knows why it was ever called that in the first place.  This situation is really not unlike naming rights to a professional sports stadium, NASCAR sponsorships on their cars, or European soccer players with logos on their jerseys.  We believe this is a good deal for America’s taxpayers.” 

Hurn said he hasn’t yet decided on a new name for the 504 loan program, but since the program champions America’s small businesses and entrepreneurs with the smartest financing available when purchasing commercial property, he is said to be leaning toward calling these loans “The SmartChoice commercial loans.”  Acting SBA Administrator Daryl Hairston and the soon-to-be confirmed SBA Administrator, Karen Gordon Mills, are also working with Hurn to appropriately rename the program. 

Hurn and Longstaff will be leaving early today to join the leaders of the G-20 Summit in a just-added presentation on international small business growth.  President Obama invited these two small business loan experts to London to educate this illustrious group about successful small business wealth creation.  Both men are expected back in Orlando by early Saturday.           

SBA 504 loans offer small business owners up to 90 percent financing at substantially reduced rates to develop, acquire, and remodel commercial facilities.           

Mercantile Capital Corporation, formerly Mercantile Commercial Capital, LLC, ranks as the one of the most active providers of SBA 504 financing in the nation and has become quite well-known and decorated in their industry with such honors as being a member of the Inc. 500 list of America’s fastest-growing companies, being named “Banker of the Year,” and just last year, being named “Best Small Company in Central Florida.” 

 Visit www.504Experts.com or www.504blog.com for more information. 

* * *

For more information contact

Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040

Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040

Shannon D. Marks, President/COO, Mercantile Capital Corporation, 407-786-5040

Altamonte Springs, Fla./24 March 2009 – Mercantile Commercial Capital, LLC, which ranks as one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, closed a commercial loan for Payne Holdings, Inc. on February 26, 2009 for $2.1 million in total project costs. 

Payne Holdings, Inc. based in Jacksonville, is owned and operated by Seth Payne, former NFL player for both the Jacksonville Jaguars and the Houston Texans. He has recently changed his focus to owning and operating several Golden Corral Restaurants, starting first in Palm Coast, Florida. His hope is to open more franchise locations throughout Florida. 

Corporate Operating Officer, Seth Payne stated, “As a start up restaurant in the midst of the credit crisis, we wasted a lot of time and money with a loan broker, but after we hooked up with Adam Wonus at Mercantile Commercial Capital things changed.  Adam amazed us with his tenacity and resolve in getting us our permanent financing.” 

By taking advantage of Mercantile Commercial Capital’s Smart Choice Commercial Loan Program, small business owners are able to take their businesses to the next level.

 For more information, visit www.504Experts.com and www.504Blog.com.

Contacts:

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

Robin Lashley, Mercantile Commercial Capital, LLC 407-786-5040

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

Chris Hurn, America’s PremierExperts™ honoree, CEO of Inc. 500 company Mercantile Commercial Capital and commercial property loan expert, discussed President Obama’s plan for small businesses on the Fox Business News Channel. 

Altamonte Springs, Fla. – March 20, 2009 – Chris Hurn, CEO of 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, recently appeared on Fox Business News Channel.  Chris was asked to discuss small business and entrepreneurship, as well as his reaction to President Obama’s recently announced plan to help generate small business growth.  

Chris Hurn was named to America’s PremierExperts™ and has garnered attention due to his company, Mercantile Commercial Capital, being one of the nation’s leading SBA 504 loan providers, as well as his commentary on the state of the economy for small businesses on his popular blog, http://www.504blog.com.   Hurn recently proposed a “Small Business Growth Act of 2009″ to jumpstart our economy into the future, which consists of seven solutions for growing small businesses, and in turn, growing the economy as a whole. The first three suggestions involve tax cuts or credits, while the other four address changes needed to current SBA Loan programs. 

On the Fox News segment, and on his blog, one of the steps that Hurn suggests is a payroll tax holiday for the remainder of this year. This, Hurn explains, would cause an almost immediate economic stimulus for both business and workers alike. 

“A payroll tax holiday would keep money in workers’ pockets and owners’ pockets. This equates to about 16% of compensation saved and immediately gives both parties more money to spend or invest,” Hurn said. 

“We also need to waive capital gains taxes permanently for those investors that make equity investments into start-up firms or successful small firms (those with revenues currently less than $100 million) in calendar year 2009. The reason for only limiting it to 2009 investments is that we need private-sector investments NOW, not in 2010 – plenty of cash already sits on the sidelines, but it needs to be put back to work and in the right areas where it will do the most good. Enacting this gives investors, who have lost hope in Wall Street and Big Business investments (where they have virtually zero control), the incentive to put their dollars to work in places where they may have a far greater influence,” Hurn continued. 

The Fox Business News segment with Chris can be found at http://www.504experts.com/blog/i-was-on-fox-news.php 

About Mercantile Commercial Capital: 

Recently named to the Inc. 500 list of America’s Fastest Growing Companies, Mercantile Commercial Capital has been called the “Fastest Growing Commercial Lender in America,” the “most unique and entrepreneurial bankers around,” and the “fun bankers.” From its start in 2003, MCC has focused on providing SBA 504 loans for small business owners to acquire or enhance their own facilities.  The company was named “Best Place to Work” by the Orlando Business Journal in 2005, 2006 and 2007. 

Additional information on MCC and its loan offerings is available at www.TheSmartChoiceLoan.com

 About America’s PremierExperts™ LLC: 

America’s PremierExperts™ is an organization that recognizes celebrity experts in their field of business and offers business owners, entrepreneurs, professional speakers, authors, professionals and corporate CEOs exclusive, invitation-only, opportunities for further exposure and growth in the marketplace.  JW Dicks, Esq. and Nick Nanton, Esq., attorneys by trade and entrepreneurs by choice, founded America’s PremierExperts™ and The Ultimate Celebrity Branding Experience™ to honor entrepreneurs, CEOs, authors, professional speakers and business people who are dedicated to spreading knowledge and awareness in their field of expertise and making significant contributions to their industry and the marketplace as a whole.  For more information about America’s PremierExperts™ LLC visit www.AmericasPremierExperts.com.

Chris Hurn, CEO of Mercantile Commercial Capital and SBA 504 Loan specialist, was recently featured on “The Next Big Thing™” Radio Show, showcasing experts spanning a wide array of industries. 

Orlando, Fla. – March 12, 2009 – Chris Hurn, CEO of Mercantile Commercial Capital, Entrepreneur Coach and CEO of Kennedy’s All-American Barber Club™, was recently featured on an episode of the groundbreaking new internet radio show, “The Next Big Thing™.”  The show gives listeners exclusive insider interviews with experts and uncovers what the “Next Big Thing™” is for businesses and consumers alike.  The experts featured on each episode are dedicated to spreading knowledge and awareness in their field of expertise and making significant contributions to their industry and the marketplace as a whole. 

The radio show was launched by America’s PremierExperts™, an organization that honors an exclusive group of forward-thinking business owners, entrepreneurs, professional speakers, authors and corporate CEOs who are pioneers in their market, and who share their secrets of success with the audience.  The show is hosted by international radio host Wayne Kelly and Nick Nanton, Esq., “The Celebrity Lawyer.” 

Hurn was chosen to appear on the show for his expertise and success in the commercial real estate lending industry, specifically his specialty in lending SBA (Small Business Administration) 504 loans.  Mercantile Commercial Capital focuses on providing SBA 504 loans for small business owners to acquire or enhance their own facilities.

Chris was interviewed and shared his knowledge of commercial real estate ownership and strategies for small business success.  Some of the topics covered during the show ranged from the commercial lending environment, business strategies during an economic down cycle and the franchising of Kennedy’s All-American Barber Club™, to the benefits of SBA 504 loans for business owners, especially today. 

About the benefits of owning commercial real estate, Chris Hurn said, “We (at Mercantile Commercial Capital) are concerned about the success of America’s business owners.  If he can put as little capital down possible [from the business owner], what I know is that the business owner can take that equity savings and reinvest it back into their business, save it for a rainy day, or use it for economic cycles like we are involved in right now.”  

“I think it’s [the SBA 504 Loan] the smartest way to finance commercial property.  I’m such a believer in it, that I actually have one of these loans myself.  You can probably count on one hand the number of commercial bankers in the US that believe enough in their own product to use it themselves,” Hurn continued. 

Each episode of “The Next Big Thing™” showcases a different expert who has been chosen to share insights from their business and personal experiences.

  “The Next Big Thing” Radio show is available for download at http://www.AmericasPremierExperts.com and is available as a free podcast on iTunes. 

To learn more about Chris Hurn and Mercantile Commercial Capital, visit http://www.TheSmartChoiceLoan.com and http://www.504blog.com

About Chris Hurn and Mercantile Commercial Capital: 

Recently named to the Inc. 500 list of America’s Fastest Growing Companies, Mercantile Commercial Capital (MCC) has been called the “Fastest Growing Commercial Lender in America,” the “most unique and entrepreneurial bankers around,” and the “fun bankers.” From its start in late 2002, MCC has focused on providing SBA 504 loans for small business owners to acquire or enhance their own facilities.  The company was named “Best Place to Work” by the Orlando Business Journal in 2005, 2006 and 2007. 

Additional information on MCC and its loan offerings is available at http://www.TheSmartChoiceLoan.com or by calling (866) 622-4504 (toll free).

About America’s PremierExperts™ LLC:America’s PremierExperts™ is an organization that recognizes celebrity experts in their field of business and offers business owners, entrepreneurs, professional speakers, authors, professionals and corporate CEOs exclusive, invitation-only, opportunities for further exposure and growth in the marketplace.  JW Dicks, Esq. and Nick Nanton, Esq., attorneys by trade and entrepreneurs by choice, founded America’s PremierExperts™ and The Ultimate Celebrity Branding Experience™ to honor entrepreneurs, CEOs, authors, professional speakers and business people who are dedicated to spreading knowledge and awareness in their field of expertise and making significant contributions to their industry and the marketplace as a whole.  For more information about America’s PremierExperts™ LLC visit www.AmericasPremierExperts.com. 

  ALTAMONTE SPRINGS, Fla. – Geof Longstaff has a good idea—a way to help rehabilitate America’s banks without spending billions of additional tax dollars in bailouts. 

Longstaff, chairman at Mercantile Commercial Capital, LLC, the Altamonte Springs firm that ranks as one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to develop or acquire their own facilities, said a small regulatory change could eliminate many of the problems that banks currently face with their loan portfolios. 

 Geof Longstaff, Chairman Mercantile Commercial Capital, LLC

“We need a new category to classify loans that are currently viewed as substandard but whose borrowers are still making payments,” Longstaff said. 

The problem now, put simply, is this: among other criteria, banking regulators gauge a loan’s merit against the value of the collateral pledged to secure the loan. If the collateral—an office building or retail center—declines in value, the loan can be considered “substandard” and subject to reserves. 

“Regulators see banks that loaned $1 million against $1.5 million in collateral as sound,” Longstaff,  who has more than 37 years of experience as a banking executive, explained. “But if the asset value drops to $900,000, regulators call that a non-performing asset—NPA— or substandard loan, and tell banks they can either post reserves to cover the collateral deficiency or demand additional money from the borrower,” he said. 

“We do this at a time when borrowers need to preserve liquidity to handle volatility in their business.  Making these cash demands can cause businesses to fail and thus promotes job losses,” Longstaff said. 

Assets have been dropping in value all over the country, Longstaff said, and NPAs are a major challenge to the nation’s economic recovery. 

“If the bank takes the additional reserve, that increases the need for capital and subjects the bank to further capital impairment,” Longstaff said. 

But many borrowers have continued to make payments on loans even though their assets have been devalued.    “They are confident the real estate market will come back and they know their asset value will improve,” Longstaff said. ”  They are employing the sort of longterm investment strategy our economy has been built on,” he said. 

The solution, Longstaff said, is to create a new category for NPAs that are actually performing—whose borrowers are making their payments on time. 

“We need a new category called a “performing under-margined loan” to describe a loan that is performing, but whose collateral assets have suffered a short-term devaluation as a result of the national economy,” Longstaff explained. 

Such classification would reduce demands on the bank’s reserves without adding to the cost of recovery, Longstaff said. 

“Bank regulators shouldn’t require increased reserves against these loans when the borrower shows the ability to make the payments,” he emphasized. 

For more information contact:

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

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

ORLANDO, Fla. – February 18, 2009 – As the $787 billion federal stimulus package takes effect and approximately $730 million is allocated for programs under the Small Business Administration, SBA lender Mercantile Commercial Capital has created a “Stimulus Response Team” comprised of its executives to analyze and respond to the opportunities that the plan makes available for small businesses.  Its initial analysis includes the following: 

·      The American Recovery and Reinvestment Act’s reduction of loan fees for the flagship SBA loan-guarantee programs represents substantial opportunities for small businesses.  Many companies will be able to save tens of thousands of dollars in upfront costs and fees while securing more favorable rates and terms that are only available through the SBA. 

·      The refinancing option for the SBA “504” loan program for commercial real estate is going to offer significant opportunities for small and mid-size businesses to expand.  By enabling businesses to take advantage of the reduced fees as well as the favorable rates and terms of this loan program, they will be able to secure the capital that they need to grow.

·      There has never been a better time to invest in new equipment.  The reduced fees of the SBA 504 for equipment loans combined with the expansion through 2009 of the “Section 179” deduction, which allows businesses to deduct upfront the entire cost of new machinery and equipment, makes this the absolute best year for small and mid-size companies to add new systems and technology to become more efficient. 

“While there is definitely more that the government and SBA can do to help small businesses to fulfill their ultimate potential for revitalizing the economy and spurring growth, the stimulus plan that was signed by the president offers significant opportunities for small businesses,” said Christopher Hurn, president and CEO of MCC.  “In addition to the measures that offer savings and incentives for the borrowers, its other changes aimed at thawing the secondary market will encourage the banks to expand their SBA lending.  We see brighter days ahead for the small businesses in the United States that are responsible for creating 70 percent of the new jobs for the national economy.” 

As part of MCC’s new Stimulus Response Team, the company is adding information to its Web site and blog on the specific measures and changes for the SBA under the stimulus plan.  It is also initiating various outreach efforts to inform its borrowers, prospects and business partners about the measures and how they impact small businesses.  

Recently named to the Inc. 500 list of America’s Fastest Growing Companies, Mercantile Commercial Capital (MCC) has been called the “Fastest Growing Commercial Lender in America,” the “most unique and entrepreneurial bankers around,” and the “fun bankers.” From its start in late 2002, MCC has focused on providing SBA 504 loans for small business owners to acquire or enhance their own facilities. The company was named “Best Place to Work” by the Orlando Business Journal in 2005, 2006 and 2007. 

Additional information on MCC and its loans for small and mid-size businesses is available by calling (866) 622-4504 (toll free) or visiting http://www.TheSmartChoiceLoan.com and http://www.504Blog.com.

CONTACT:            Robin Lashley

                        (407) 786-5040

                        info@mercantilecc.com

Chris Hurn, CEO of Mercantile Commercial Capital and SBA 504 Loan specialist, will be featured in an episode of the television show titled “America’s PremierExperts™” in Los Angeles, California 

Orlando, Fla. – February 16, 2009 – America’s PremierExperts™, the television show, will be filmed this February in Los Angeles, California.  The television show will serve as a comprehensive profile of America’s leading experts in various industries. The individuals that will be showcased are forward-thinking business owners, entrepreneurs, professional speakers, authors, professionals and corporate CEOs who are pioneers in their market that will share their secrets of success with the audience. 

One of these experts is Chris Hurn, CEO of Mercantile Commercial Capital, named to the Inc. 500 list of America’s Fastest Growing Companies. Hurn was chosen to appear on the show for his expertise and success in the commercial real estate lending industry, specifically his specialty in lending SBA (Small Business Administration) 504 loans.  Mercantile Commercial Capital focuses on providing SBA 504 loans for small business owners to acquire or enhance their own facilities. 

Hurn said, “I’m very excited to be featured on the America’s PremierExperts™ television show.  I know this will be a great opportunity to showcase what our SmartChoice Loan can do for small businesses that are eagerly trying to increase their net worth by purchasing their own commercial real estate, as opposed to renting.  There is no better time than right now to own commercial property.” 

America’s PremierExperts™ LLC is an organization that honors an exclusive group of celebrity experts who are dedicated to spreading knowledge and awareness in their field of expertise and making significant contributions to their industry and the marketplace as a whole.  Upon acceptance into America’s PremiereExperts™ members are invited to apply to participate in a 12-month innovative and extremely exclusive program, The Ultimate Celebrity Branding Experience™, for highly motivated entrepreneurs and professionals, launched by Nick Nanton, Esq., The Celebrity Lawyer and J.W. Dicks, Esq., The Business Celebrity Maker, authors of the best-selling book, “Celebrity Branding You™.” 

To learn more about Chris Hurn and Mercantile Commercial Capital, visit http://www.TheSmartChoiceLoan.com and http://www.504blog.com 

To find out more about America’s PremierExperts™ visit http://www.AmericasPremierExperts.com 

About Chris Hurn and Mercantile Commercial Capital: 

Recently named to the Inc. 500 list of America’s Fastest Growing Companies, Mercantile Commercial Capital (MCC) has been called the “Fastest Growing Commercial Lender in America,” the “most unique and entrepreneurial bankers around,” and the “fun bankers.” From its start in late 2002, MCC has focused on providing SBA 504 loans for small business owners to acquire or enhance their own facilities.  The company was named “Best Place to Work” by the Orlando Business Journal in 2005, 2006 and 2007. 

Additional information on MCC and its loan offerings is available at http://www.TheSmartChoiceLoan.com or by calling (866) 622-2504 (toll free). 

About America’s PremierExperts™ LLC:America’s PremierExperts™ is an organization that recognizes celebrity experts in their field of business and offers business owners, entrepreneurs, professional speakers, authors, professionals and corporate CEOs exclusive, invitation-only, opportunities for further exposure and growth in the marketplace.  JW Dicks, Esq. & Nick Nanton, Esq., attorneys by trade and entrepreneurs by choice, founded America’s PremierExperts™ and The Ultimate Celebrity Branding Experience™ to honor entrepreneurs, CEOs, authors, professional speakers and business people who are dedicated to spreading knowledge and awareness in their field of expertise and making significant contributions to their industry and the marketplace as a whole.  For more information about America’s PremierExperts™ LLC visit www.AmericasPremierExperts.com.

Chris Hurn, CEO of Inc. 500 Company Mercantile Commercial Capital, LLC, is building on the success of his popular live monthly teleseminar series, Small Business Success Strategies® with a newly announced lineup of special guests. 

Altamonte Springs, Fla. – January 31, 2009 - Chris Hurn, CEO of Mercantile Commercial Capital, LLC, which specializes in U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, has been hosting a popular teleseminar series called Small Business Success Strategies®. 

The popular live monthly teleseminar series, is hosted by Chris Hurn, one of the nation’s foremost experts on commercial loans for small businesses.  The success of this series can be attributed to the talent that Chris has garnered to be a part of each of these teleseminars. In the monthly calls, subscribers get live access to today’s best-selling and leading business authors, consultants, marketing gurus and other successful entrepreneurs. 

In the past few months, Hurn interviewed Tim Ferriss, author of The 4-hour Workweek, economic futurist Jeff Thredgold, and Nick Nanton, Esq. author of Celebrity Branding You™.  On Wednesday, February 4th, 2009 Chris will welcome Sydney Biddle

Barrows, author of Uncensored Sales Strategies.  Barrows will be discussing her book and how her strategies on selling can help take your business to a new level. On March 27th, 2009 Dr. Scott Shane will make a repeat appearance to talk about his new book Fool’s Gold? The Truth Behind Angel Investing in America.  Hurn has previously had such guests as Harv Eker, Michael Gerber, Bo Burlington, Joseph Michelli, Dan Kennedy and others. 

To subscribe to Small Business Success Strategies®, please visit http://www.504experts.com/documents/SBSS_Subscription_Form.pdf

About Mercantile Commercial Capital: 

Recently named to the Inc. 500 list of America’s Fastest Growing Companies, Mercantile Commercial Capital has been called the “Fastest Growing Commercial Lender in America,” the “most unique and entrepreneurial bankers around,” and the “fun bankers.” From its start in 2003, MCC has focused on providing SBA 504 loans for small business owners to acquire or enhance their own facilities.  The company was named “Best Place to Work” by the Orlando Business Journal in 2007, 2006 and 2005. 

Additional information on MCC and its loan offerings is available at http://www.TheSmartChoiceLoan.com 

Altamonte Springs, Fla. — Mercantile Commercial Capital, LLC, which specializes in U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reported it closed on four commercial loans in December that total over $6.3 million, and helped to create 42 new jobs. 

Mercantile Commercial Capital’s December loans included:• $1,185,000 to Beckman & Associates, Inc, to provide 80 percent financing for refinance of a 3,532 SF office condo located in Maitland, Florida;�

• $1,675,000 to Mississippi Embroidery, LLC to provide 90 percent financing for the purchase of an approximately 17,000 SF building located in Hattiesburg, Mississippi; 

• $2,107,200 to Irish Properties, LP, to provide 85 percent financing to purchase a mix-used restaurant with 8 residential apartments – a 11,030 SF facility in New Cumberland, Pennsylvania; and 

• $1,345,000 to Autogalaxy USA, LLC/Miami Car Sales, Inc., to provide 75 percent financing for the purchase of a 8,000 SF office/warehouse condo located in Hallandale, Florida. 

In 2008, Mercantile Commercial Capital closed on 43 Commercial Loans valued at more than $75 Million.  Altogether, their loans helped to create 483 new jobs.

For more information, visit www.TheSmartChoiceLoan.com and www.504Blog.com.

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

Robin Lashley, Mercantile Commercial Capital, LLC 407-786-5040

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

Altamonte Springs, Fla./January 28, 2009 – Mercantile Commercial Capital, LLC, which ranks as one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, closed a commercial loan for Mississippi Embroidery, LLC on December 31th, 2008 for $1,675,000.00 in total project costs. 

Mississippi Embroidery opened in 1993 and is family-owned and operated.  Following Hurricane Katrina in 2005, water and wind damage to their location left Mississippi Embroidery little choice but to move to a much smaller location.  Unfortunately, the reduction of space hindered production and made expansion impossible.  Mercantile provided long-term financing for Mississippi Embroidery’s new 17,000 square-foot building located in Hattiesburg, with a 20-year, fully-amortizing term and a very attractive 5-year fixed interest rate, with only 10% down.          

“Mercantile’s SmartChoice Loan helped me secure financing for my business’s new commercial property,” said President and owner Gary Parker.  “I know that owning my own property through their loan is an investment for my financial future,” he added.  For more information on Mississippi Embroidery, please visit www.mississippiembroidery.com.    

Mercantile Commercial Capital’s SmartChoice  Commercial Loan Program helps owners of small to mid-sized businesses, like Mr. Parker, have an opportunity to increase their net-worth through Commercial property ownership.  Mercantile’s specialization in SmartChoice  Commercial Loans, also known as SBA 504’s, allows their borrowers to own their Commercial property with one-third to half the down payment required by ordinary banks, while getting the least expensive capital available in the marketplace.  This enables business owners to reduce their risk and stay more liquid, while gaining all the benefits of Commercial real estate ownership. 

For more information, visit www.TheSmartChoiceLoan.com and www.504Blog.com.

Contacts:

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

Robin Lashley, Mercantile Commercial Capital, LLC 407-786-5040