Mercantile Capital Corp. Launches Commercial Real Estate Loan iPhone App

ORLANDO, Fla.--(BUSINESS WIRE)--

Mercantile Capital Corporation today announced the release of an iPhone app that offers a quick and easy way to estimate down payments, interest rates and monthly payments for commercial real estate loans. The SmartChoice Loan Calculator for Small Business Commercial Real Estate app, available for free in the iTunes App Store for both iPhones and iPads, offers cost and rate information on the go for anyone with an Apple mobile device. Current interest rates are automatically updated on the app, making loan estimates current and accurate.

MCC, a leading provider of the U.S. Small Business Administration 504 program loan for owner-occupied real estate, created the app for small business advisors, commercial real estate brokers, mortgage bankers/brokers, Certified Development Companies, lenders, general contractors and accountants, as well all small business owners who are interested in making commercial real estate purchases. The app requires the user to input the type of property (office, warehouse, manufacturing plant, etc.), the purchase price and estimated costs for improvements (if any). It instantly calculates the estimated down payment, interest rate range and monthly payment range. The app also enables users to save and compare results and also get further information and news from MCC.

“One of our ongoing goals is to make purchasing commercial real estate as simple and easy as possible for small business owners,” said MCC chief executive officer, Chris Hurn. “The SmartChoice app gives an incredibly quick snapshot estimate for anyone shopping or researching commercial property, wherever they are.”

The SmartChoice app can be used to estimate costs and payments for any commercial real estate transaction.

“We have found that many small business owners incorrectly assume they can't afford to buy an office, warehouse or restaurant location,” said Hurn. “We hope our app will help educate entrepreneurs about the unparalleled wealth-creating option of owning your own building.”

A former member of the Inc. 500 list, Mercantile Capital Corporation focuses on providing SBA 504 loans for small business owners to acquire or enhance their own facilities. For more information on MCC, a wholly-owned subsidiary of Old Florida National Bank, call (866) 622-4504 (toll free) or visit: http://www.504Experts.com.