ORLANDO, Fla. --- Mercantile Capital Corporation, 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, recently launched the SmartChoice® Loan Calculator iPhone application, available free online at the iPhone Apps Store.
Christopher G. Hurn, chief executive officer of Mercantile Capital Corporation, said the SmartChoice Loan Calculator offers a quick and easy way to estimate down payments, interest rates and monthly payments for commercial real estate loans. The app is available in iPhone and iPad versions, Hurn said.
“Our SmartChoice Loan Calculator for Small Business Commercial Real Estate offers cost and rate information on the go for anyone with an Apple mobile device,” Hurn said.
“Current interest rates are automatically updated, making loan estimates current and accurate,” he explained.
Mercantile Capital Corporation created the app for small business advisors, commercial real estate brokers, mortgage bankers/brokers, Certified Development Companies (CDCs), lenders, general contractors and accountants, as well all small business owners who are interested in making commercial real estate purchases, Hurn said.
Once the user inputs the type of property (office, warehouse, manufacturing plant, etc.), the purchase price and estimated costs for improvements, if any, the SmartChoice Loan Calculator app instantly calculates the estimated down payment, interest rate range and monthly payment range. Users can save and compare their results and get news and updates from Mercantile Capital Corporation.
“One of our ongoing goals is to make purchasing commercial real estate as simple and easy as possible for small business owners,” Hurn said.
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.”
Mercantile Capital Corporation is a wholly-owned subsidiary of Old Florida National Bank. For more information call toll-free (866) 622-4504 or visit www.504Experts.com.