Mercantile Commercial Capital Provides Commercial Real Estate Loan To Martial Arts Center in Monroe, NY Worth More Than $1.9 Million
Altamonte Springs, Fla. – November 19, 2008 – Mercantile Commercial Capital, LLC, 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 Monroe United Martial Arts Center (UMAC), Inc. on October 30th for $1,920,000 in total project costs.
The UMAC franchise, based in Monroe, New York, offers an after-school program and summer camp, as well as year-round Tae Kwon Do classes. Monroe UMAC has been in operation for six years. Mercantile Commercial Capital provided long-term financing for the 10,400 square-foot martial arts center with a 25-year, fully amortizing term and a very attractive 5-year fixed interest rate, with only 10% down.
“There were many challenges along the way to getting my SMARTChoice Loan, but Mercantile was always there to help,” said Joseph Preira, owner of Monroe UMAC. “This was my first commercial real estate acquisition, and I consider myself lucky to have Mercantile backing me up.” To learn more about Monroe UMAC, Inc. visit www.umacenters.com.
By utilizing Mercantile Commercial Capital’s SMARTChoice loan, small to mid-sized business owners, like Mr. Preira, can own their property with less money down, longer terms, and better interest rates than they can get with ordinary commercial banks. Mercantile’s borrowers are able to get the highest cash-on-cash return available in the marketplace for their investments.
Chris Hurn, Mercantile Commercial Capital, LLC 407-786-5040
Robin Lashley, Mercantile Commercial Capital, LLC 407-786-5040
Larry Vershel or Beth Payan, LV Communications, 407-644-4142