Altamonte Springs, FL, September 17, 2011 --(PR.com
)-- 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. Small Business Administration (SBA) 504 Loan Program has fallen to a new all-time low of 4.69 percent. SBA 504 loans already offer below-market, long-term, fixed interest rates with as little as 10 percent down.
Now, small business owners have the opportunity to borrow money to grow their businesses at the lowest interest rates in history. Many believe the new record low interest rate will serve as an incentive that will spur small business owners to invest in their business by purchasing building and equipment.
“There may never be a better time than now for small business owners to buy already discounted commercial property, while financing it with the lowest interest rates on record," said CEO of Mercantile Capital Corporation, Chris Hurn.
Mercantile Capital Corporation specializes in providing SBA 504 loans for small business owners nationwide who want to acquire or develop their own facilities.
A former member of the Inc. 500 list, Mercantile Capital Corporation (MCC) has been called the “Fastest Growing Commercial Lender in America,” the “most unique and entrepreneurial bankers around,” and the “fun bankers.” From its start in late 2002, MCC has focused on providing SBA 504 loans for small business owners to acquire or enhance their own facilities. The company has been named a Small Business Financial Services Champion by the U.S. Small Business Administration twice in the past four years.
For more information on MCC and 504 loans call (866) 622-4504 (toll free) or visit www.504Experts.com or www.504Blog.com.
For more information about this press release contact:
Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040 GLongstaff@Mercantilecc.com
Chris Hurn, Chief Executive Officer, Mercantile Capital Corporation, 407-786-5040 ChrisHurn@MercantileCC.com