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Mercantile Capital reports 12.8 percent rise in commercial lending volume in 2009

NationalMortgageProfessional.com
Jan 08, 2010

Mercantile Capital Corporation, the Altamonte Springs, Fla. firm that ranks as one of the largest providers of U.S. Small Business Administration (SBA) 504 loans in the nation, reported it saw a 12.8 percent increase in lending volume in 2009 over 2008 dollar volume totals. Chris Hurn, president of Mercantile Capital Corporation, said the number of transactions declined slightly in 2009 but loan amounts---to small business owners who want to acquire or develop their own facilities---increased, Hurn said. Geof Longstaff, chairman, said the firm’s largest single loan was $8.1 million to Blaine Convention Services in California to acquire a retail warehouse. Mercantile Capital Corporation provided loans to small businesses in some 14 states in 2009, Longstaff said. Since Mercantile Capital opened its doors in late 2002, the firm has provided 262 commercial loans valued at more than $424.7 million and created 2,983 jobs. For more information, visit www.504experts.com.
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