Mercantile Capital Corporation

Mercantile Capital Corporation, a wholly-owned subsidiary of Old Florida National Bank, today announced that the 20-year effective interest rate for the U.S. SBA 504 Loan Program has fallen to a new all-time low of 4.69 percent.

Mercantile Capital Corporation, a wholly-owned subsidiary of Old Florida National Bank, reports it closed 9 commercial loans in August to finance projects valued at more than $21.6 million in Florida, Texas, California, Georgia and Maryland.

The NAPL Fall 2011 Conference will be dedicated to discussing the most important issues facing the 504 loan program industry in today’s economy, and will specifically focus on servicing, recovery, liquidation and legislative efforts.

Mercantile Capital Corp. recently closed the largest single commercial loan in the company’s 8 year history to finance improvements valued at over $11.2 million at the Sanford Auto Dealers Exchange, located on Martin Luther King Blvd. in Sanford.

Mercantile Capital, one of the largest providers of U.S. SBA 504 loans for small business owners who want to acquire their own facilities, reported it closed 24 loans from Jan. 1 through June 30 to finance projects valued at over $69.1 million.

Funds for small business owners who want to acquire or develop their own facilities under the U.S. Small Business Administration 504 loan program aren’t in danger of drying up anytime soon, says one of the nation’s leading providers of 504 loans.