Mercantile Capital Corp. Reports 2010 Shaping Up as Best Year in the Company's History

Altamonte Springs, FL, December 09, 2010 --(PR.com)-- Mercantile Capital Corporation, a wholly owned subsidiary of Old Florida National Bank, which specializes in U.S. Small Business Administration 504 loans that assist small business owners acquiring or developing their own facilities, is having the best year in the company's eight year history.

Geof Longstaff, chairman of Mercantile Capital Corp., said the firm will close commercial loans funding projects valued at more than $140 million this year.

Longstaff said Mercantile Capital recently closed its largest loan ever to fund the $8.7 million acquisition of a commercial building on Broadway in New York City.

Longstaff said a second major loan is scheduled to close in January and will fund the acquisition of a Houston Diagnostic Center valued at $7.5 million.

Since January 1 of this year, Mercantile Capital has closed 46 loans to fund projects valued at more than $132.6 million. That represents an 83.4 percent increase over the same 11-month period in 2009.

In November, Mercantile Capital closed six loans on projects valued at $18.5 million.

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