MCDC LSP Services
The 7(a) Loan Program is SBA's primary program for helping start-up and established small businesses, with financing guaranteed for a variety of general business purposes. The SBA does not make loans itself, but rather guarantees the loans. This reduces the risk to the lender but not to the borrower, who remains obligated for the full debt, even in the event of default.
MDCD’s SBA Lender Service Provider (LSP) department services the SBA 7(a) loan program for commercial lenders. Outsourcing your SBA loan applications and other SBA services to Michigan Certified Development Corporation (MCDC) will allow your organization to grow its lending capabilities with limited resources. MCDC will work with your institution to provide proper structuring, underwriting, and documentation to ensure your business loans meet the requirements of the SBA program.