The loan was used to purchase a 67-room Super 8 motel, located at 3510 W. Florida Avenue in Hemet, CA. The property is owned equally by Pankaj Mehta, and his son Nishith Mehta.
The SBA 504 loan program helps owners of small to mid-sized businesses, like Super 8 Motel, have an opportunity to create wealth and financial freedom. MCC’s specialization in SBA 504 loans, allows borrowers, 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.
“Typically, franchise operations require a more rigorous standard of economic viability and promise a more reliable potential for economic success,” said Chris Hurn, CEO of Mercantile Capital Corporation.
“The increase in SBA 504 lending to buyers of franchise operations indicates significantly expanded awareness of the benefits of SBA 504 financing and refinancing among the small business entrepreneurs who are driving the nation’s economic recovery and we see this as a promising sign,” he added.
For more information, visit http://www.504Experts.com and http://www.504Blog.com.
Entrepreneur, Speaker, Writer/Blogger, Leader. Mercantile Capital Corporation only finances commercial real estate for other entrepreneurs and small business owners all over the U.S. utilizing the SmartChoice Commercial Loan program (aka the SBA 504 loan).