Food andbeverage whyrestaurateursshouldownproperty-02.20.2012
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Chris hurn kennedys all american barber club
At the 2009 Franchise Finance & Development Conference, nine CEOs shared their experiences and advice. Chris Hurn, CEO of Mercantile Capital Corporation, purchased the Kennedy's All-American Barber Club franchise and changed it to focus on "mass-affluents" seeking value. Kennedy's offers prepaid memberships for unlimited haircuts and shaves starting at $40. As a lender, Hurn advised franchisors to find expert lenders, ask how fast and painless the loan process will be, and that the least down payment is often smartest.
When Business Credit Scores Get Murky
MCC mentioned in the Wall Street Journal regarding and I am quoted to explain our policy of checking personal-credit scores rather than business-credit scores. Business owners have the ability to submit their information to credit bureaus. This enables a potential client's own personal-credit score to be more reflective of their personal intent to pay back and why we at Mercantile value it more.
Small Businesses Stifled By Drops in SBA Loans
In the February 3rd, 2009 edition of Blue Maumau, a franchise news sharing resource, I am given the opportunity to reflect my thoughts on the SBA loan program. At one point I am quoted saying, "SBA loans normally take off in a recession, but this time around SBA lending has not taken off, mainly because of other issues relating to banks which are outside the SBA's realm." I continue to state that franchising should be taking off in an economic downturn like this and continue to explain some of the possible causes with difficult franchising in these times.
Shifting Credit Risk to the Government
I am mentioned several times in the September 2011 issue of Restaurant Finance Monitor John Hamburger. My input is directly loan based and I provide quick figures as to what you can expect by using our loan program for you next restaurant commercial financing project.
Will 2012 be the Year of SBA Lending?
Will 2012 be the year of SBA lending? 7(a) and 504 loans were created to "level the playing field for small- and midsized-business owners. I talk about the boost this type of loan can give your company, a new life for the 504 refinancing, and how the clock is ticking for these types of loans all in the December 2011 publication in the Scotsman Guide.
Spread the Word About 504 Refinancing
In my article for the Scotsman guide, I talk about the recent program changes to SBA lending and the benefit it can have on small business owners.
SBA Solutions
n the hyper competitive commercial real estate market place, successful brokers and agents can utilize a relatively littleknown yet highly effective financing source to help clients secure the ideal property for their needs. e small business administration 504 loan programs represents one of the best possible options for small-business owners to acquire and enhance their own facilities. For many commercial real estate professionals, it is one of their top strategies for help
SBA Eases Commercial Real Estate Refinancing Rules
Kent Hoover's article for the Orlando Business Journal goes into detail about the 504 loan program. After Hoover explains the basics of the 504 loan program, he quotes me about the upcoming 504 refinancings under the new regulations.
Recommended
Chris hurn kennedys all american barber club
At the 2009 Franchise Finance & Development Conference, nine CEOs shared their experiences and advice. Chris Hurn, CEO of Mercantile Capital Corporation, purchased the Kennedy's All-American Barber Club franchise and changed it to focus on "mass-affluents" seeking value. Kennedy's offers prepaid memberships for unlimited haircuts and shaves starting at $40. As a lender, Hurn advised franchisors to find expert lenders, ask how fast and painless the loan process will be, and that the least down payment is often smartest.
When Business Credit Scores Get Murky
MCC mentioned in the Wall Street Journal regarding and I am quoted to explain our policy of checking personal-credit scores rather than business-credit scores. Business owners have the ability to submit their information to credit bureaus. This enables a potential client's own personal-credit score to be more reflective of their personal intent to pay back and why we at Mercantile value it more.
Small Businesses Stifled By Drops in SBA Loans
In the February 3rd, 2009 edition of Blue Maumau, a franchise news sharing resource, I am given the opportunity to reflect my thoughts on the SBA loan program. At one point I am quoted saying, "SBA loans normally take off in a recession, but this time around SBA lending has not taken off, mainly because of other issues relating to banks which are outside the SBA's realm." I continue to state that franchising should be taking off in an economic downturn like this and continue to explain some of the possible causes with difficult franchising in these times.
Shifting Credit Risk to the Government
I am mentioned several times in the September 2011 issue of Restaurant Finance Monitor John Hamburger. My input is directly loan based and I provide quick figures as to what you can expect by using our loan program for you next restaurant commercial financing project.
Will 2012 be the Year of SBA Lending?
Will 2012 be the year of SBA lending? 7(a) and 504 loans were created to "level the playing field for small- and midsized-business owners. I talk about the boost this type of loan can give your company, a new life for the 504 refinancing, and how the clock is ticking for these types of loans all in the December 2011 publication in the Scotsman Guide.
Spread the Word About 504 Refinancing
In my article for the Scotsman guide, I talk about the recent program changes to SBA lending and the benefit it can have on small business owners.
SBA Solutions
n the hyper competitive commercial real estate market place, successful brokers and agents can utilize a relatively littleknown yet highly effective financing source to help clients secure the ideal property for their needs. e small business administration 504 loan programs represents one of the best possible options for small-business owners to acquire and enhance their own facilities. For many commercial real estate professionals, it is one of their top strategies for help
SBA Eases Commercial Real Estate Refinancing Rules
Kent Hoover's article for the Orlando Business Journal goes into detail about the 504 loan program. After Hoover explains the basics of the 504 loan program, he quotes me about the upcoming 504 refinancings under the new regulations.
Redifining 'Doable'
Special-use properties like restaurants, hotels, and car washes are difficult to finance due to their specialized nature. They are often harder to convert to other uses than traditional commercial properties. Lenders are cautious approving loans for special-use properties, typically requiring 20% equity and only financing 80% of the property value. Additionally, the equipment involved in special-use businesses requires shorter loan terms that are challenging for borrowers. Considering the total project costs rather than just property value helps make special-use projects more feasible to finance.
Message Mogul - Franchise Times
In the April 2009 edition of Franchise Times I am featured for some of my unordinary marketing techniques. The most diffficult thing is to get the attention of a new customer and I go through some of the interesting ways I have acquired new clients.
Can You Get a SBA Loan?
As a member of the INC 5000 I was interviewed on the federal government's policy for SBA loans, my own firm and how it has been affected by the market freeze. Furthermore, I am asked what President Obama should add to aid small business owners in this economic downturn all in the December 2008 edition of Inc.com
Local firms turn to alternative funding
Xerographic Digital Printing and Certified Financial Group turned to alternative funding sources like Mercantile Commercial for commercial real estate loans rather than traditional bank loans. Mercantile specializes in SBA 504 loans which offer longer repayment terms and lower interest rates. Xerographic used a $1.7 million SBA 504 loan from Mercantile to construct a new $2 million building, allowing for lower interest rates and payments over time. Certified Financial also found Mercantile's SBA 504 program competitive for its $1.5 million building loan due to lower down payments and interest rates. As banks tightened credit, Mercantile has grown by providing expertise in SBA loans that some banks lack.
The 411 on 504
This article I wrote for the Scotsman Guide inlcudes everything on the 504 loans, from the basics of what they are to who can qualify. I even go to the extent of describing the higher ceilings on the net worth of businesses that can qualify for the loan, the advantages, and the upcoming proposed changes to the loans in this November 2008 issue of the Scotsman Guide.
FMLP House Testimony
Chris Hurn, CEO and Co-Founder of Mercantile Capital Corporation, dicusses with the House Small Business Subcomittee his business and the experience it has given him to improve the industry. In this written testimony Hurn explains the SBA 504 and FMLP backround, its timeframe, and success to date. The request of the written testimony is to extend the FMLP program by 12 months with an additional SBA fee of 0.125% and additionally extend the SBA 504 Debt Refinance program for one year. This written testimony has been requested to be "co-signers" from 92 other businesses nationwide.
Chris Hurn Testimony for Senate Subcommittee on Small Business and Entreprene...
This testimony discusses proposals to reduce the subsidy rate for the SBA 504 loan program. It suggests empowering Certified Development Companies to actively pursue recoveries on defaulted SBA 504 loans, which could generate hundreds of millions in additional recoveries. It also recommends extending two temporary SBA loan programs, 504 loan refinancing and the First Mortgage Lien Pool program, that charge higher fees to offset future losses and help reduce subsidies. The testimony argues these proposals could significantly reduce subsidies without increasing costs to taxpayers.
SBA 504 Refinance Rules
Everything you need to know about the new SBA 504 Refinance Program, condensed and simplified by the Experts in SBA 504 Loans.
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More from Christopher Hurn
Redifining 'Doable'
Special-use properties like restaurants, hotels, and car washes are difficult to finance due to their specialized nature. They are often harder to convert to other uses than traditional commercial properties. Lenders are cautious approving loans for special-use properties, typically requiring 20% equity and only financing 80% of the property value. Additionally, the equipment involved in special-use businesses requires shorter loan terms that are challenging for borrowers. Considering the total project costs rather than just property value helps make special-use projects more feasible to finance.
Message Mogul - Franchise Times
In the April 2009 edition of Franchise Times I am featured for some of my unordinary marketing techniques. The most diffficult thing is to get the attention of a new customer and I go through some of the interesting ways I have acquired new clients.
Can You Get a SBA Loan?
As a member of the INC 5000 I was interviewed on the federal government's policy for SBA loans, my own firm and how it has been affected by the market freeze. Furthermore, I am asked what President Obama should add to aid small business owners in this economic downturn all in the December 2008 edition of Inc.com
Local firms turn to alternative funding
Xerographic Digital Printing and Certified Financial Group turned to alternative funding sources like Mercantile Commercial for commercial real estate loans rather than traditional bank loans. Mercantile specializes in SBA 504 loans which offer longer repayment terms and lower interest rates. Xerographic used a $1.7 million SBA 504 loan from Mercantile to construct a new $2 million building, allowing for lower interest rates and payments over time. Certified Financial also found Mercantile's SBA 504 program competitive for its $1.5 million building loan due to lower down payments and interest rates. As banks tightened credit, Mercantile has grown by providing expertise in SBA loans that some banks lack.
The 411 on 504
This article I wrote for the Scotsman Guide inlcudes everything on the 504 loans, from the basics of what they are to who can qualify. I even go to the extent of describing the higher ceilings on the net worth of businesses that can qualify for the loan, the advantages, and the upcoming proposed changes to the loans in this November 2008 issue of the Scotsman Guide.
FMLP House Testimony
Chris Hurn, CEO and Co-Founder of Mercantile Capital Corporation, dicusses with the House Small Business Subcomittee his business and the experience it has given him to improve the industry. In this written testimony Hurn explains the SBA 504 and FMLP backround, its timeframe, and success to date. The request of the written testimony is to extend the FMLP program by 12 months with an additional SBA fee of 0.125% and additionally extend the SBA 504 Debt Refinance program for one year. This written testimony has been requested to be "co-signers" from 92 other businesses nationwide.
Chris Hurn Testimony for Senate Subcommittee on Small Business and Entreprene...
This testimony discusses proposals to reduce the subsidy rate for the SBA 504 loan program. It suggests empowering Certified Development Companies to actively pursue recoveries on defaulted SBA 504 loans, which could generate hundreds of millions in additional recoveries. It also recommends extending two temporary SBA loan programs, 504 loan refinancing and the First Mortgage Lien Pool program, that charge higher fees to offset future losses and help reduce subsidies. The testimony argues these proposals could significantly reduce subsidies without increasing costs to taxpayers.
SBA 504 Refinance Rules
Everything you need to know about the new SBA 504 Refinance Program, condensed and simplified by the Experts in SBA 504 Loans.
More from Christopher Hurn (8)
Chris Hurn Testimony for Senate Subcommittee on Small Business and Entreprene...
Chris Hurn Testimony for Senate Subcommittee on Small Business and Entreprene...