Altamonte Springs, FL, September 21, 2011 --(PR.com
)-- 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 or develop their own facilities, closed a commercial loan for Showtime Investments, Inc. dba Sanford Auto Dealers Exchange (SADE) recently for $11,235,000 in total project costs.
SADE is now one of the largest independently owned auto auctions in the country. Their auction is typically larger than most of the auctions run by Manheim, Adesa, ABC and others. Customers include Ally Bank, the Holler Family of Dealerships, the Morgan Group, the Fields Automotive Group, Dollar-Thrifty RAC, Enterprise RAC and many others.
“In a very difficult lending environment, Mercantile stayed by our side throughout the process of refinancing our expansion,” said co-owner, Jeffrey Brody. “Their expertise in these loans is extensive and they never lost sight of the finish line. Mike and I look forward to working with them again in the future.”
The SmartChoice Commercial Loan Program helps owners of small to mid-sized businesses, like Sanford Auto Dealers Exchange, have an opportunity to create wealth and financial freedom. Their specialization in SmartChoice Commercial Loans, also known as SBA 504 loans, allows borrowers, like Mike Tumminello and Jeff Brody, 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.
For more information, visit www.TheSmartChoiceLoan.com and www.504Blog.com.