Orlando, FL, July 26, 2012 --(PR.com
)-- Mercantile Capital Corporation, 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, recently closed a commercial refi loan for Canalside Inn, Inc. for $2,020,000 in total project costs.
The Canalside Inn is a casual and contemporary boutique-style inn that contains 12 non-smoking rooms. It is situated across from the Lewes-Rehoboth Canal in a peaceful, quiet location that is a short walking distance away from the center of town, the boardwalk and the beach.
Financing was provided by Mercantile, and the transaction was originated and orchestrated by Joel Nathanson of ACG Companies. ACG is a private investment management group out of Irvine, California.
“Thankfully, with the overall low cost of capital and leverage flexibility that the SBA 504 Loan Refinance Program provides, we were able to prevent a possible foreclosure while significantly reducing our client's overall borrowing costs,” said Nathanson.
The SBA 504 Loan Refinance Program helps owners of small to mid-sized businesses, like Canalside Inn, have an opportunity to create wealth and financial freedom. MCC’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.
“When thousands of small business owners across this nation are struggling with high interest rates on loans for commercial buildings and an inability to finance additional working capital, this refi program is phenomenal,” said Chris Hurn, CEO of Mercantile Capital Corp.
For more information, visit http://www.504Experts.com and http://www.504Blog.com.