sba 504 loan: SBA 504 Loans At Your Fingertips - 04/01/14 04:23 AM
We’re thrilled to announce something HUGE today. Ever since I got my first iPhone, I’ve wanted to make use of touchscreen technology in the small business lending industry. With the recent proliferation of biometric technology and the opportunity to work with the NSA (can’t divulge many details), we’ve been able to develop a loan application that requires only a thumbprint.
The following press release is being distributed with all the details, and you can experience it for yourself at www.504touch.com. 
SBA 504 LOANS AT YOUR FINGERTIPS
Mercantile Capital Corporation Launches Touchscreen, Biometric Loan Application for SBA 504 Loans
ORLANDO, FL — April … (0 comments)

sba 504 loan: The Five Cs of Small Business Real Estate Financing: Character… - 09/30/13 04:45 AM
From time to time, I think it’s helpful to go over the basics of what we do here at Mercantile Capital Corporation. Small business owners and their advisors choose to work with us because we make the process of purchasing commercial real estate simple. I’m not saying that commercial real estate financing is a simple process, but we do the heavy lifting and sausage-making (so to speak) so that our clients can focus on other important things (like running their businesses).
Earlier this month, I spoke at the Annual Conference of the America’s Small Business Development Center network (ASBDC). I was … (0 comments)

sba 504 loan: SBA 504 Refi Redux - 05/08/13 04:48 AM
Since the beginning of the year, I’ve been saying that we’re going to see a decrease in small business loans this year, likely in the 20 to 30 percent range. The primary reason for my gloomy outlook is that both the SBA 504 Refinance and FMLP programs expired last September. In my video blog on April 4th, I mentioned several changes that have been proposed by the SBA that might offset the potential decline this year, but something even better has gained momentum since then.
Senator Mary Landrieu has introduced a bill that will effectively repeal the expiration of the SBA … (0 comments)

sba 504 loan: The SBA Proposes Four Changes to the 504 Loan Program… - 04/05/13 01:44 AM
I’ve been on record saying that the SBA will likely see a 20 to 30 percent decrease in 504 loan volume in fiscal year 2013. Despite the fact that the SBA is coming off back-to-back record-breaking years, I expect this drop-off in 504 loans due in large part to the 504 refinance and secondary market (FMLP) programs not being extended past September of 2012. Well, I may have to eat my words (and I’ll gladly do so), because the Agency recently announced some changes that may curtail my forecasted decrease. Specifically, there are four things that I think will make a … (0 comments)

sba 504 loan: Good News/Bad News for Small Business Lending in 2013… - 03/15/13 05:34 AM
The last two years have seen record-shattering levels of government-guaranteed lending, which includes the SBA 504 loan program (aka the SmartChoice® Commercial Loan). In terms of loan volume, 2011 and 2012 were the biggest and second biggest years (respectively) in the history of the SBA. Since the SBA has done the lion’s share of small business lending as our economy struggles to get back on its feet, what can we expect in 2013?
Go here to read an article I was just quoted in yesterday on BusinessWeek.com called “How Are the SBA’s Loan Programs Doing?”
GOOD NEWS — SBA loan … (0 comments)

sba 504 loan: This Morning On Varney & Co. - 02/08/13 04:58 AM
Well, it turns out that Stuart Varney stood me up this morning in retaliation to me snubbing him at his Super Bowl party last week. Instead, I had the great pleasure of talking with Charlie Payne and Liz MacDonald about a tepid economy as the “new normal” and the idea that real estate (commercial real estate in particular) is making a comeback. Watch the clip from this morning and see what you think.
You may have noticed that Charlie teed it up for me to talk about my book, and I completely missed it. But he did say that I was … (8 comments)

sba 504 loan: Small Business Lending: 2012 Year In Review… - 01/17/13 11:36 PM

 
Well, it’s taken me 17 days to get my act together and update you on how Mercantile did in 2012, but the numbers are finally in. We said all along that last year was going to be a record-shattering one for us, and we were proven right.
Between January 1st and December 31st of 2012, we closed 97 loans that helped finance small business commercial real estate projects worth more than $424.2 million. The business owners we worked with are located in 27 states across the country and 2,834 jobs were created or retained as a result of the … (0 comments)

sba 504 loan: Lessons from Capitol Hill: How NOT to Negotiate… - 01/03/13 04:42 AM
Even though 2013 is now three days old, let me officially wish you a Happy New Year! Like me, I’m sure you can look back at 2012 and see the varying highs and lows that have brought us to where we are now, but let’s not dwell too long on the past. Let’s learn what we can from the successes and failures of last year, and then look forward to what we can accomplish and achieve in the New Year.
My first blog post of 2013 comes courtesy of my business partner — Mercantile’s Chairman of the Board, Geof Longstaff. He’s … (1 comments)

sba 504 loan: SBA 504 Loans, the Olympics, and Book Cover Judging… - 07/30/12 04:57 AM
Fact about me: I love the Olympics. The pageantry of the games and the world-class athletic competition are so much fun to watch. Here’s another fun fact: right before the 2008 Olympics in Beijing, I learned that one of America’s most decorated Olympians in history trained at a facility that was financed with an SBA 504 loan.
 Even though Mercantile wasn’t involved in the project, it’s great to know that the type of financing we do has played a part in the career of an extremely successful athlete. Which athlete was it? You’ll have to watch the video below to find … (2 comments)

sba 504 loan: Fried Phones, Androids, & Social Madness…OH MY! - 06/26/12 04:16 AM
We had a very soggy weekend here in Florida. Tropical Storm Debby hit us with lots of rain and some pretty strong winds, and we came to the office yesterday to find that our phone system was fried sometime over the weekend. I recorded a video blog yesterday (see below) hoping that we’d have all this resolved by now, but we’re still phoneless. Nevertheless, I have some important things to tell you today, so (if you can spare two minutes) I hope you enjoy my video message to you…
For everybody (and I mean EVERYBODY), all of us here at Mercantile … (1 comments)

sba 504 loan: Social Madness: Round One… - 06/19/12 06:38 AM
So, we’ve made it through the qualifying stage of Social Madness, and Round One starts today! Thanks for voting for us — it really means a lot to everybody here at Mercantile that we got as many votes as we did and are the second seed in Round One (it’s bracketed, like March Madness…hence the name). Watch the video below to find out what you can do to help us advance to the next round and to hear me say “thanks!” in-person…
Don’t forget that the prize for winning this Social Madness contest (other than bragging rights) is a $10,000 donation … (1 comments)

sba 504 loan: Video of My Recent Senate Testimony… - 04/11/12 03:20 AM
It took a little longer than expected, but we finally have the video of my testimony before the Senate Committee on Small Business and Entrepreneurship on March 29th. Believe it or not, I’ve taken a lot of heat for what I said at this Senate Hearing two weeks ago. Some of my comments have been taken out of context, and some folks have fabricated things I never said (or even implied). So, before I’m bombarded with any more criticism for what I said (or didn’t say), I invite you to watch the video for yourself and see what really happened:
As … (0 comments)

sba 504 loan: My Testimony about the SBA 2013 Budget Request before the Senate Committee on Small Business and Entrepreneurship… - 03/29/12 07:04 AM
It’s done. I testified earlier today before the Senate Committee on Small Business and Entrepreneurship. It turns out things were a little rushed at the hearing — I was only given about three minutes to deliver my verbal testimony (which is very short, especially given the length of my written testimony) — and Ranking Member Sen. Olympia Snowe wasn’t able to be there for the panel I was on. But I think I got my point across, and Committee Chair Sen. Mary Landrieu commented that the different opinions on the panel made for some interesting debate.
As I began to prepare … (0 comments)

sba 504 loan: Time to Make Some Noise in Washington… - 03/22/12 12:17 AM
First of all, if you’re not up to speed on the JOBS Act (H.R. 3606) and the Reed-Landrieu-Levin Amendment, you ought to watch the video I posted yesterday. Now, here’s an UPDATE on what’s transpired regarding this legislation.
Late yesterday, cloture (motion to limit debate) failed on the Reed-Landrieu-Levin Amendment, which included an extension for the SBA 504 Refi program. The cloture motion needed 60 votes and got only 55. This vote was expected due to other issues related to the underlying bill, and was not a reflection on the merits of the one-year refi extension.
What comes next is a … (0 comments)

sba 504 loan: An Urgent Request on Behalf of Small Businesses… - 03/20/12 05:48 AM
I really don’t feel very well today. I’ve been fighting some sort of virus since late last week, but I came to the office today solely to film a short video for you and compose this blog post. The reason I willed myself to get off the couch, drive to the office, and put my employees’ health at risk is that America’s small businesses need your help (today). In short, I’m asking you to make four (just four) phone calls (again, today).
You may already be following what’s going on in Washington today with the JOBS (Jumpstart Our Business Startups) Act … (0 comments)

sba 504 loan: Webinar Replay: All About the New SBA 504 Loan Refinance Rules… - 11/03/11 09:48 AM
Whether or not you were able to attend my webinar yesterday about the new SBA 504 loan refinance rules, there’s a good chance you’ll be interested in viewing a replay and/or having the presentation slides for your reference. Just over 500 people registered for this webinar, and I spent nearly 45 minutes just answering questions submitted live on the call, so it’s safe to say that this is somewhat of a hot topic for small business owners and their advisors.
Below, you can download the presentation slides in PDF format and follow along while you watch the replay of yesterday’s webinar.
… (0 comments)

sba 504 loan: Redundancy in SBA Programs Stalls the Recovery… - 08/09/11 10:14 AM
I wrote an article that was published on American Banker’s BANKTHINK blog last Friday. It’s about the redundancy that continues to plague the SBA’s flagship loan programs and why it’s hurting our economy.
In my opinion (which you’re probably aware of if you’ve read this blog for any length of time), the SBA needs to do more to increase efficiency and make it possible for small business owners to get the capital they need to grow their businesses.
I’d like to find out if you agree with me, so read the full text of the article below and let me know … (0 comments)

sba 504 loan: The Small Business Jobs and Credit Act Explained . . . - 09/28/10 10:24 AM
On Monday, September 27th, President Obama signed into law the bill known as HR 5297, or the Small Business Jobs and Credit Act. I’ve been reading a lot of commentaries about what is and isn’t included in this new law, and there is still some ambiguity about parts of this legislation. I’ve read the text myself, and it’s hard to say exactly how the technicalities in this law will be applied.
This video is the first in a series from the SBA 504 Experts, explaining the particulars of the Small Business Jobs and Credit Act.
 

Be sure to check … (1 comments)

sba 504 loan: SBA 504 Expert to interview nationally-acclaimed marketing expert Sally Hogshead - 08/18/10 07:37 AM
As you may already know, I host a monthly Small Business Success Strategies® TeleSeminar where I give forward-thinking business people like you access to today's best-selling and leading business authors, consultants, marketing gurus and other successful Entrepreneurs.
I'm very excited that Sally Hogshead will be my August guest author for our LIVE call next Wednesday August 25th at noon ET. In her new book, Fascinate: Your 7 Triggers to Persuasion and Captivation, she poses a strange but important question: “Is your (or your prospective client's) attention span the same as a goldfish's?” Sally points out that a world oversaturated with about … (0 comments)

sba 504 loan: The SBA 504 Experts Explain more about HR 5297… - 08/03/10 04:57 AM
As you know, I've been sending emails and making phone calls over the last several days to drum up support for HR 5297, the small business bill the Senate has been debating for a week now. A friend sent me a message asking some questions that you may also have, so I thought I'd respond to them here. Here are his comments and questions:
It appears that [HR 5297] was voted down with Republicans leading the way. I heard Mitch McConnell discuss it briefly yesterday [Sunday, August 1st] saying the reason they were against was that it was loaded up with … (0 comments)