Altamonte Springs, FL, August 18, 2010 --(PR.com
)-- As U.S. Senators debate a House bill that would provide up to $30 billion in loan guarantees to American small businesses, a Florida-based lender that specializes in funding small business expansion and development projects is toasting a major benchmark: More than a half-billion dollars in loans closed on projects underway or completed in 36 states and Puerto Rico.
Mercantile Capital Corporation, headquartered in Altamonte Springs, specializes in U.S. Small Business Administration 504 loans that help small business owners acquire or develop their own facilities.
Christopher G. Hurn, chief executive officer of Mercantile Capital Corporation, said the goal is job creation.
“America’s small businesses provide more than half of all American jobs, yet this sector of the economy has been burdened the most by the economic downturn,” Hurn said.
Mercantile Capital Corp. has closed 292 small business loans from May of 2003 through June 30, 2010, financing projects valued at $511,056,640 in total project costs, Hurn said.