Chris Hurn, CEO, Mercantile Capital Corporation
Chris Hurn, CEO/Cofounder of Inc. 500 company Mercantile Capital Corporation was recently asked to make a guest appearance on FOX Business News based on his expertise in small business lending, specifically the SBA 504 Loan. Chris was asked to appear on the show to enlighten small business owners and others on the current small business lending atmosphere, especially with the recent near-collapse of major small business lender CIT.
Brian Sullivan of FOX Business News posed the question, “Is the falling rate of SBA loans a reflection of lack of demand and people not wanting to start a business, or a reflection of the government lending out less by backing fewer loans through companies like yours?” Hurn replied, “It’s not so much the government lending less. The $15 billion in TARP funds used to buy SBA debt haven’t materialized yet, they keep talking about it, but it hasn’t come to fruition and it was announced back in March. That will add liquidity to the market place, but there are still plenty of SBA dollars out there. In the past two fiscal years, the SBA 504 Loan program, for instance, left $3.3 billion, authorized for use, unspent. This year it’s going to be $4 to $4.5 billion. All the SBA needs to do is get with some of the politicians and tweak the existing programs to tap another source of funds which would be a lot more dramatic of an impact than this $255 million ARC program which only did a few less than 400 loans their first month of business!”
To watch the full video discussion (only 6 min.) visit: http://www.504experts.com/
Guests on FOX Business News are brought in to discuss current events in their field of expertise.
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To Find out more about Chris Hurn and Mercantile Capital Corporation, please visit
http://TheSmartChoiceLoan.com
About Mercantile Capital Corporation:
Recently named to the Inc. 500 list of America’s Fastest Growing Companies, Mercantile Capital Corporation 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 all over the country.
Additional information on MCC and its commercial loan offerings is available at http://www.TheSmartChoiceLoan.com
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