Christopher Hurn, chief executive officer of Mercantile Capital Corporation, said the loan volume represents a 190 percent increase over the firm’s loan volume for the first eight months of 2011.
Hurn said the firm provided loans in 2011 to finance projects valued at $174 million in total project costs.
In August, Mercantile Capital closed seven SBA 504 loans to finance projects worth more than $26.6 million in total project costs.
Mercantile Capital Corporation, a wholly-owned subsidiary of Old Florida National Bank, ranks as one of the most active providers of SBA 504 loans nationwide. They specialize in commercial property financing for owners of small and mid-sized businesses who want to acquire, enhance or refinance their own facilities, with up to 90 percent loan-to-cost financing.
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