Mercantile Commercial Capital LLC, the Altamonte Springs, Fla. lender that ranks as one of the most active providers in the nation of U.S. Small Business Administration (SBA) 504, reports that it has financed commercial real estate projects valued at more than $46 million from January through April. Geof Longstaff, chairman and co-founder of Mercantile Capital Corporation, (MCC) said one loan financed Colimar Inc.’s $6,170,000 acquisition of a cotton warehouse in Mission, Texas.
Located on the Mexican border, the warehouse operation readies cotton bales for shipment to Mexican textile manufacturers, Longstaff said. Mercantile Capital Corporation also financed the $2,654,900 acquisition of an historical building in Pasadena, Calif., for Architects for Education Inc.
Longstaff said commercial loans during the four-month period almost broke the eight-year old company’s record for loan volume in a four-month period.
“The SBA 504 loan program is gaining recognition as the most accessible, and in some cases, only lending alternative for small business owners in the U.S.,” said Christopher Hurn, chief executive officer at MCC. “Since we expanded our scope outside the southeast region, we are accommodating inquires every day from almost every region in the nation."
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