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Mercantile Capital Corporation Provides SBA 504 Loan for Orlando-based Production Company
Bungalow Scenic Studios offers high quality, state-of-the-
Bungalow has an in-house design team as well as on-site carpenters, painters, and metal fabricators, making it possible to design and manufacture custom solutions for each client. Prior to this project, the company occupied four separate leased spaces for its office, shop, and storage needs. Larger projects were often broken down into smaller components which were built, stored, and tested individually.
The new 93,600 square-foot facility more than doubles Bungalow’s space and will increase efficiencies by housing all operations to one location. The additional space and high ceilings will allow Bungalow to assemble and test larger projects prior to final delivery.
Colin Murphy, President and co-owner of Bungalow Scenic Studios, said Mercantile was more than helpful during the loan process. “Consolidating our operations under one roof was important to us,” he said. “The fact that we could buy and renovate the building we needed with just 10 percent down was great news for us.”
Murphy added that Mercantile’s expertise in SBA 504 loans was important. “We specialize in creating beautiful events, and Mercantile specializes in 504 loans. We knew we were in good hands right from the start.”
About the SBA 504 Loan Program
The SBA 504 loan program allows small business owners to finance fixed assets (commercial real estate and equipment) with long-term, below-market, fixed interest rates. These loans are designed to finance the total project cost, including purchase price, construction/
Mercantile Capital Corporation is one of the nation’s leading providers of commercial real estate financing for small business owners via the SBA 504 loan program. As of June 30, 2014, Mercantile has closed 532 loans to fund projects worth more than $1.47 billion in 39 states, Puerto Rico, and the District of Columbia. A primary aim of the SBA 504 loan program is job creation and retention, and the company’s lending activities have helped create and/or retain a total of 9,907 permanent jobs since 2003. An industry leader for more than a decade, Mercantile has been on the forefront of efforts to grow the SBA 504 program by improving efficiencies, educating the marketplace, and leveraging technology. Its SmartChoice®
For more information, visit www.504Experts.com (http://www.504experts.com/
Mercantile Capital Corporation