Mercantile Bank Small Business Loans

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Small Business Finances

Small Business Services

Business Solutions

Apply for a Loan
Call 800.238.8681 or stop by a local branch.

SBA 7a Loans

Borrower Benefits

Long repayment terms, reducing monthly payments
Enhances cash flow to expand your business
Down payment as low as 10% on multi-purpose real estate acquisitions
Financing available for most industry types including: hotel/motels, restaurants and day care centers

Loan Amounts

Use of Proceeds

Business acquisition - business, franchise or professional practice. Loans up to $2,000,000.
Real estate - purchase, construction, renovation or refinance of commercial real estate.
Majority of space must be owner-occupied. Loans up to $2,000,000.
Machinery & equipment - purchase or refinance. Loans up to $2,000,000.
Start-up - franchised businesses such as restaurants and hotel/motel. Loans up to $2,000,000.

Terms

Real estate - up to 90% financing, up to 25 years, Prepayment penalty for initial 3 years
Business acquisition - up to 80% financing, up to 10 years, No prepayment penalty
Refinance – up to 100% financing, up to 25 years, Prepayment applicable for initial 3
years on terms greater than 15 years
Rates are based on a spread over the Wall Street Journal Prime Lending Rate. Rates vary depending on the specific strengths of the transaction.
SBA Guarantee Fee is currently waived under the American Recovery Act.

Pre-Screen

Pre-screen service available within 48 hours with no charge or obligation by providing
limited information

All loans are subject to credit approval.