As we conclude the fourth week of the partial government shutdown, I believe it is important to provide a brief update on funding of 504 loans and address questions I have received regarding approval and helping lenders assist their customers. The January loan funding occurred this week with rates well below 5.00% for both the … Continued
I am quite certain you are aware of the partial shutdown of the federal government that went into effect Friday, December 21st. As the MCDC is an independent organization we remain open for business to serve our lending partners and small businesses throughout this challenging time. It is apparent the shutdown will continue into 2019, … Continued
East Lansing, MI (September 11, 2018) – Michigan Certified Development Corporation (MCDC) President Mark Williams is pleased to announce the hiring of Todd Horton to open the new Marquette office, the first in the Upper Peninsula for MCDC. Todd comes to MCDC from River Valley Bank where he was Vice President in the Business Banking … Continued
EAST LANSING, MI, (September 26, 2018) – Mark Williams, President of Michigan Certified Development Corporation (MCDC) is pleased to announce the addition of Cathy McHarg as Senior Loan Officer. Cathy will open our first office in the Detroit and Oakland County Region, and the seventh office in Michigan. Cathy comes to MCDC with a strong … Continued
East Lansing, MI (August 28, 2018) – Michigan Certified Development Corporation (MCDC) President Mark Williams is pleased to announce the promotion of Eric Kehler to Vice President – 504 Lending In his new position, Eric will utilize his expertise and experience in developing territories to lead the sales team at MCDC. He will play a … Continued
Today SBA released a notice stating that a debenture with a 25 year maturity is now available, in addition to the existing 10 and 20 year debentures for the SBA 504 Loan Program. The new 25 year debenture will be made available for 504 projects that are approved on or after April 2, 2018. The … Continued
EAST LANSING, MI, January 29, 2018 – The Michigan Certified Development Corporation (MCDC) is pleased to announce the addition of Duane Hummel as Underwriter. Duane will work out of the East Lansing Corporate Headquarters. His responsibilities will include financial analysis of loan applicants, eligibility determination, loan packaging and working with SBA to get loans approved. … Continued