Geoff Longstaff, chairman of Mercantile Capital, says the firm is expanding its capital base to support its new nationwide sales initiative, which is based in suburban Altamonte Springs. The company is taking advantage of what he terms as a lack of active lending capacity in the marketplace.
"We have developed a highly successful strategy to deliver commercial financing to growing small business enterprises that are creating job growth in the economy," Longstaff stated in a release. "Our objective is to take our strategy nationwide and we have reorganized our senior management staff in order to achieve this goal."
Christopher Hurn, the firm's co-founder and president, has been named CEO of Mercantile Capital and will focus his efforts on expanding its national scope. Also, Shannon Marks, a 20-year commercial banking veteran, becomes president and COO.
The company claims to have provided nearly $350 million in commercial loans since its inception in 2003. Its new direction gives it an opportunity to make a positive impact on the US economy, Longstaff says.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
