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Mercantile Capital Corp Finances Commercial Real Estate Project in Raleigh, NC Worth Over $1 Million
Mercantile Capital Corporation, a leading provider of U.S. SBA 504 loans for small business owners who want to acquire their own facilities, recently closed a commercial loan for East Coast Gear Supply for $1,008,630 in total project costs.
East Coast Gear Supply is a gear and axel provider for parts and services for drive trains for 4 wheel drive vehicles. ECGS is one of the largest suppliers on the eastern seaboard. Additionally, the company manufactures total rear end assemblies by utilizing used components and their own designed parts.
Mercantile Capital closed 57 loans during all of 2011, its highest yearly total ever. With over 50 closed loans since January, 2012 is shaping up to be another record year.
Geof Longstaff, chairman of Mercantile Capital Corporation, said their recent surge in new business can be attributed to improved economic conditions and further awareness of Mercantile’s specialty.
“We are seeing a marked increase in loan inquires, as more business owners project growth in the coming year and want to purchase still-discounted real estate, before values increase from here,” Longstaff said.
The SBA 504 Loan Program helps owners of small to mid-sized businesses, like Chase Perry of East Coast Gear Supply, have an opportunity to create wealth and financial freedom. Their 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.
For more information, visit http://www.504Experts.com and http://www.504Blog.com.