504 loans: Our 504th SBA 504 Loan… - 12/03/13 04:34 AM
It’s been 10 years since Mercantile Capital Corporation was founded. When my business partner, Geof Longstaff, and I started this company, we got a lot of funny looks from others who thought we were crazy to put all our eggs in one basket. That metaphorical basket was (and is) the SBA 504 loan program. Geof and I became convinced that this particular loan was too important for small business owners to be as underutilized as it was. We believed that if we made it our sole focus and provided a great experience for our small business clients (and did a good … (0 comments)

504 loans: National Small Business Week: Part Two - 05/25/11 08:52 AM
 
I know that National Small Business Week is technically over, but I think it’s important to celebrate America’s small businesses every day. I’ve had the honor of interacting with countless business owners, as a commercial lender and as a small business owner myself, and I’m grateful for their hard work and efforts that create jobs and grow our economy. The video below is part two of Mercantile’s origin story. In a nutshell, you’ll learn why and how we came to specialize in the SmartChoice® Commercial Loan (aka the 504 loan) and how we’ve been successful by doing things differently than … (0 comments)

504 loans: It’s National Small Business Week and we have some good news for you… - 05/19/11 08:47 AM
Did you know the first National Small Business Week was in 1963? The President of the United States has proclaimed one every year since then, and this year’s National Small Business Week will honor an estimated 27.2 million small businesses and entrepreneurs in our country. To mark the occasion this year, I thought I’d explain Mercantile’s origin story. It’s not all that different from lots of other entrepreneurs’ stories, and there are a few lessons here that you might find helpful. Watch the short video below to learn a little bit more about why I founded Mercantile and how we got … (0 comments)

504 loans: Small Business Commercial Property Financing Q&A… - 05/12/11 06:58 AM
I get a wide range of questions about what we do as a company. Some people want to know why we specialize in commercial real estate financing for small businesses, some want to know how our loans work, and others are curious about the culture we’ve created here at Mercantile.
 
To answer some of the most common questions posed to us, I recorded the following video earlier today. Watch it to see if you learn a thing or two about our company (and see me attempt an impression of “Carnac the Magnificent”).
 
http://youtu.be/zWszQ0GxTrI
 
Let me know what you … (0 comments)

504 loans: Happy 504 (Loan) Day! - 05/05/11 05:03 AM
A couple years back, we made up a holiday (yeah, we sometimes do strange things like that). We call it 504 Day, and it falls on May 4th of each year. Despite our best efforts, we haven’t been able to get it registered as a national holiday yet (and Hallmark doesn’t yet recognize it), but I’d like to share with you a little about why we dreamt it up and why it’s significant.
 
Watch the short video below to find out what 504 Day is and what it isn’t. You’ll even learn about how I have personally used a 504 … (0 comments)

504 loans: What the SBA 504 Experts have in common with the Royal wedding . . . - 04/29/11 05:46 AM
As you probably know by all the coverage it has gotten, the Royal Wedding is tomorrow morning, and it seems my invitation to it got lost in the British postal system.  In all seriousness, I’ve filmed today’s video to let you know how the entrepreneurial dream for wealth creation through commercial real estate ownership, dates back to the Magna Carta and the British monarchy.
Back in 1215, the Magna Carta was the first document that was forced onto the English King by his subjects, in an attempt to limit his powers and protect their privileges.  It was the first time that … (0 comments)

504 loans: SBA 504 Webinar Replay . . . - 04/08/11 03:51 AM
Well, we got the video clip posted quicker than I expected. Again, this is a replay of the webinar I hosted this past Wednesday, and it’s all about the SBA 504 refi program for commercial real estate.
 
If you’re interested in refinancing your commercial property with a 504 loan, or if you advise business owners who should consider doing so, you ought to spend some time watching this video.
 
http://youtu.be/qsoCx5wB5K0
 
You can also download the slides as a PDF document below.
 
http://www.504Experts.com/SBA_504_Refi_webinar/SBA_504_Refis_EXPLAINED.pdf
 
The video is just over an hour, so it may be helpful to break … (0 comments)

504 loans: Everything You Need to Know About the SBA 504 Refinance Program… - 04/07/11 09:43 AM
As I mentioned in my video blog post on Tuesday, I hosted a complimentary webinar yesterday all about the SBA 504 refi program. I thought this would be a helpful thing since there are a lot of details to know about how this program works, the SBA just recently made some changes to the eligibility requirements, and there isn’t a whole lot of commercial lending happening out there beyond the SBA (so educated and resourceful mortgage professionals have an opportunity here to take advantage of).
 
It turns out I was right, since 348 people registered for the webinar and I … (0 comments)

504 loans: New Details about the SBA 504 Refi Program and a Webinar You Don’t Want to Miss… - 04/06/11 03:38 AM
Today’s video blog is about a recent change to the SBA 504 refi program that is very good news for lots of business owners and their advisors. Watch the video below to hear all about it, and also find out how to register for our complimentary 504 refi webinar I’m hosting tomorrow.
 
http://www.youtube.com/watch?v=MbmbZUq-HiE
 
If you haven’t registered for tomorrow’s webinar yet, go to bit.ly/504RefiExplained right now to reserve your spot. You only have one day to do so, and there are a limited number of lines. If you have questions about the 504 refi program, email them to me … (0 comments)

504 loans: Lessons for Entrepreneurs: Part 2… - 03/24/11 09:38 AM
This is the second part of the lecture I delivered to a group of MBA students at the Crummer Graduate School of Business at Rollins College few weeks back. The video below is about the remaining 10 lessons for successful entrepreneurs (if you haven’t seen the first video where I talk about the first 8 lessons, it’s also on this blog).
                                  
I think you’ll find this set of lessons as useful as the first, so take a few minutes and watch this video clip:
 
Disclaimer: The views and opinions expressed in this video are mine, and may not … (0 comments)

504 loans: Important Lessons for Entrepreneurs and Small Business Owners… - 03/23/11 08:29 AM
NOTICE: This is one of the most important blog posts you’ll read here.
 
In early March, I was invited by the Crummer Graduate School of Business at Rollins College to be a guest lecturer for their Executive Class on Entrepreneurship. I got to tell my story to this group – the story of how Mercantile Capital Corporation became a successful small business lender – and used it to teach them some important things about entrepreneurship.
 
When I sat down to prepare for the lecture, I identified 18 lessons for successful entrepreneurs and 4 reasons you (the proverbial “you”) should … (0 comments)

504 loans: Why the SBA is Important for Small Businesses (especially when it comes to commercial real estate)... - 03/17/11 03:18 AM
It’s no secret that the SBA has a less-than-stellar reputation in the minds of most business owners and even some lenders. The general assumption is that the SBA is stodgy, slow and not worth the hassle. But I think it’s time that we stop vilifying the SBA.
                                              
In speeches and interviews lately, I’ve been pointing out that the SBA has gone from a “lender of last resort” to a “lender of choice” ­— in a matter of only two years. Watch this brief video I recorded to hear me explain why I believe this, and why business owners should … (0 comments)

504 loans: New Resource for SBA 504 Interim Loans... - 02/01/11 07:34 AM
You may or may not have heard about the recent launch of our new website dedicated exclusively to providing information about interim loans for SBA 504 projects: www.SBA504InterimLender.com. Why is this an important thing? I explain it all in the short video below, so watch it to find out.
(I also explain the history behind the phrase, “You can’t make an omelet without breaking a few eggs.” Blame it on the commies.)
 
http://www.youtube.com/watch?v=lg4ChnEUzTc
 
I hope www.SBA504InterimLender.com is a helpful resource for the commercial lending community. It’s just one more way we’re working to take rather complicated processes and make … (0 comments)

504 loans: The SBA 504 Experts’ First Video Blog of the New Year . . . - 01/18/11 04:12 AM
As you may have read in my last blog post, MCC had a very successful 2010. We have some great people working for us, and they really outdid themselves last year. But we also have our Clients and Referral Partners to thank for our success. I’d really like to thank you face to face, so watch the video below (my first video blog post of 2011):
 
http://www.youtube.com/watch?feature=player_embedded&v=YoN2_BGCbLM
 
(Pay close attention at about 1:40 in the video, when I completely forget our toll-free phone number. We probably should have edited it out, but I thought you it might make you … (0 comments)

504 loans: Refinancing with SBA 504 Loans - As reported in today's New York Times: A small step that doesn't go far enough. - 06/26/09 08:26 AM
The SBA's latest attempt at helping the small business community is to ease the restrictions on using 504 loan funds for the purposes of refinancing. This change was announced earlier this week, and is a fine idea, but it unfortunately doesn't do enough to truly provide the aid that small businesses need right now. Go here to read my comments about this in today's New York Times article.
The major stipulation that concerns me is that this new rule requires businesses to use the funds for expansion purposes. Don't get me wrong — I think right now is a great time … (0 comments)