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Follow on Google News | Mercantile Capital Corp Closed 10 Commercial Loans in July to Finance Projects Worth Over $70.5 MilMercantile Capital Corporation, which specializes in U.S. SBA 504 loans for small business owners who want to acquire their own facilities, reported it closed 10 commercial loans in July to finance projects valued at more than $70.5 million.
Christopher G. Hurn, founder and CEO of Mercantile Capital Corporation, said the largest single loan in July was for the refinancing of a Hampton Inn & Suites in downtown Stamford, Conn., with a total project cost of $12.4 million. In 2011, Mercantile Capital Corporation closed on loans that financed projects valued at more than $174.4 million. Since Jan. 1, 2012, Mercantile Capital Corporation has financed transactions worth more than $291.3 million in total project costs. Hurn said he projects Mercantile Capital Corporation will provide financing for projects that total more than $400 million in 2012 — a 129 percent increase over 2011 volume. For more information, visit http://www.504Experts.com and http://www.504Blog.com. End
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