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Mercantile Capital Corporation Refinances Two Hotels in Richland Hills, TX Worth Over $10.1 Mil

Mercantile Capital Corp, one of the nation’s leading providers of US SBA 504 loans for small business owners, refinanced two existing loans for CN Churchill. One, a La Quinta Inn & Suites, was for $5,322,000, & a Comfort Suites was for $4,832,000.

Nov. 21, 2012 - PRLog -- Mercantile Capital Corporation, which ranks as one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, refinanced two existing commercial loans for CN Churchill, I, LP.  One, a La Quinta Inn & Suites, was for $5,322,000 in total project costs, and the other, a Comfort Suites, was for $4,832,000.

The La Quinta Inn & Suites is a 61,528 square-foot, 86 room limited-service hotel, and the Comfort Suites is 52,555 square-foot with, 72 rooms. They are adjacent to one another at 653 & 643 NE Loop 820 in Richland Hills, Texas, and they share a parking lot.

CN Churchill I, LP is a partnership owned by 7 stakeholders, represented by Sanjiv Melwani.

“Mercantile was a great partner to work with to get this deal done,” said Melwani. “The team was efficient with decision making, responses and execution.”

The SBA 504 Loan Program helps owners of small to mid-sized businesses, have an opportunity to create wealth and financial freedom.  Their specialization in SBA 504 loans, allows borrowers, like Sanjiv Melwani, to own their commercial property with the highest cash-on-cash return financing available, without tying up their precious capital, so they can grow even faster.

For more information, visit http://www.504Experts.com and http://www.504Blog.com.

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Source:Mercantile Capital Corporation
Location:Orlando - Florida - United States
Industry:Finance, Real Estate
Tags:Commercial Property Loan, Commercial Real Estate, 504 Loan, Sba 504 Loan, Mercantile Capital
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