Mercantile Capital Corporation Provides a $2.3 Million Commercial Loan in St. Petersburg, Florida

March 22, 2012 - PRLog -- Orlando, Fla./ March 22 – Mercantile Capital Corporation, one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire, develop or refinance their own facilities, closed a loan for Edge Partners, LLC, d.b.a. Flamingo Resort Hotel recently for $2,357,000 in total project costs.

Flamingo Resort is a fully renovated 132-room hotel with six bars, including an outdoor Cabana bar/eating area, a casual dining restaurant, a retail area and large patio/courtyard and smoking area, plus a large outdoor pool and lounge area that caters to a niche customer base.  The resort offers non-stop entertainment, fine menu fare and poolside & resort accommodations.    

“Mercantile Capital was great to work with,” said owner, David Baker.  “They set my expectations high up front, and followed through with everything they said they would.  The closing was completed quickly and with no surprises, and I was very pleased with the overall process.”

The SBA 504 Loan Program helps owners of small to mid-sized businesses, like Flamingo Resort, have an opportunity to create wealth and financial freedom.  Their specialization in these 504 loans allows borrowers, like David Baker, to own their commercial property with the highest cash-on-cash return financing available, without tying up their capital, allowing them to grow even faster.

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

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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.