Mercantile Capital Corporation, a leading provider of U.S. SBA 504 loans for small business owners who want to acquire, develop or refinance their own facilities, closed a commercial loan for Hampton Inn & Suites recently for $12,400,000.
Online PR News – 03-October-2012 – Orlando, FL – Mercantile Capital Corporation, which ranks as 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 commercial loan for Greenwich Hospitality Group, LLC d.b.a. Hampton Inn & Suites recently for $12,400,000 in total project costs.
Originally opened in 1987, the five-story building is a 100 room limited-service hotel, also equipped with a three-story parking garage. The hotel is equipped with a breakfast area, restaurant/lounge, exercise room, business center, sundries counter, beverage vending areas, and a guest laundry facility.
The SBA 504 Loan Refinance Program helps owners of small to mid-sized businesses, like Hampton Inn & Suites, have an opportunity to create wealth and financial freedom. Mercantile’s 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, so they can grow even faster.
According to SBA data, SBA 504 refinances accounted for 14.7 percent of all SBA 504 loans made in the first quarter of 2012, and 20.6 percent of total SBA 504 dollars during that time period.
For more information, visit www.504Experts.com and www.504Blog.com.