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Mercantile Capital Corporation Reports 66 Percent Jump in Commercial Property Loans

PRLog (Press Release) –
Jun 08, 2009 – Mercantile Capital Corporation in Altamonte Springs reports it is seeing a big increase in commercial property loans.

   

The firm, which specializes in U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reported it closed on loans that total more than $10 million in May, up more than 66 percent over the same period last year.

   

Geof Longstaff, co-founder and chairman of Mercantile Capital Corporation, said May lending activity included $3.3 million to acquire and renovate a marina in Golden Meadow, La., and two loans that totaled $7 million to acquire Best Western hotel properties in Winslow and Cottonwood, Ariz.

   

Longstaff said the firm’s commercial property loans in May, 2008 totaled just over $6 million.

For more information contact

Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040

Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040

Shannon D. Marks, President/COO, Mercantile Capital Corporation, 407-786-5040

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Visit http://www.504Experts.com or http://www.504blog.com  for more information.

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