ALTAMONTE SPRINGS, Fla. --- Mercantile Commercial Capital, LLC, which specializes in U.S. Small Business Administration (SBA) 504 loans for small business owners, reported it closed five commercial loans in April that totaled $5 million.
“As banks tighten their commercial lending criteria, SBA 504 loans are becoming an increasingly important factor in area economic expansion,” said Christopher Hurn, president and chief executive officer of Mercantile Commercial Capital.
“Of all the capital market alternatives, SBA 504 is the one most focused on creating new jobs and facilitating regional economic growth,” Hurn said.
Mercantile Commercial’s April loans included:
• $256,500 to Miller & Meyer, Inc. dba Essential Elements, a holistic health care provider, to acquire a 1,700-square foot facility in St. Petersburg, Fla. with 90 percent loan-to-cost financing, a 25-year, fully-amortizing term and a below-market five-year fixed interest rate;
• $195,000 to Solano, Aviles, Kozlowski, LLC, an accounting firm, to refinance its 2,115-square foot Orlando office building with 60 percent loan-to-value financing, a 25-year, fully-amortizing term and below-market five-year fixed interest rate;
• $2,103,750 to Kid’s Domain, LLC, a child care provider, to develop a 6,600 square-foot Leesburg, Va. day care center with 85 percent loan-to-cost financing, a 25-year, fully-amortizing term and a below-market, five-year fixed interest rate;
• $711,000 to LNZ, LLC dba Scrub-A-Dub and Laundry Basket, to acquire two coin-operated laundry facilities totaling almost 5,000 square feet of space in Syracuse and North Webster, Ind. with 90 percent loan-to-cost financing, 25-year, fully-amortizing terms and below-market five-year fixed interest rates;
• $1,639,800 to Euro Sports, LLC dba Arthur J. Debaise, MD, PA, to acquire a 6,500 square-foot medical office building in Winter Park, Fla. with 90 percent loan-to-cost financing, a 25-year, fully-amortizing term and a below-market five-year fixed interest rate.
Three of the firm’s April loans were referred to the company by referral partners, including Miller and Meyer (ACE correspondent Pati Williams in south Tampa), Kid’s Domain (Ryan Goldacker of Legacy Lending Group, Inc.) and Euro Sports (Ersi Braun, Mercantile Commercial’s Referral Partner of the Month).
For more information please visit http://www.504experts.com.
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For more information please contact
Robin Lashley, Marketing Manager Mercantile Commercial Capital, LLC 407-786-5040
Chris Hurn, President / CEO Mercantile Commercial Capital, LLC 407-786-5040
Geof Longstaff, Chairman Mercantile Commercial Capital, LLC 407-786-5040
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
