November 2022 Newsletter
November Holiday Hours
Welcome Northern Lower Peninsula Senior Loan Officer, Eric Maly
Michigan Certified Development Corporation (MCDC) is pleased to announce the addition of Eric Maly as Senior Loan Officer for the Northern Lower Peninsula of Michigan. Eric will have an office located in Traverse City where he lives with his wife of 35 years. Eric has a deep commitment to Traverse City, and to northern Michigan, … Continued
October 2022 Newsletter
Small businesses are the engine that drives the economy as we continue our newsletter series on job creation. MCDC has played a role in hundreds of businesses realizing their dreams of real estate ownership, expansion and reinvestment resulting in job creation and retention. In all we do, jobs are at the heart of it.
Why Are SBA 504 Loans Gaining Popularity?
The financial aspect of running an enterprise is one of the most confusing subjects for many business owners. Most new and seasoned business owners do not know which direction to turn when getting proper funding. Many make grave mistakes that cost them a lot in the short and long run. Therefore you should learn about … Continued
Is It Normal to Need a Small Business Loan?
At some point in the life cycle of a business, it will likely need a loan. Business loans help fund the growth of small business entities or fill in some financial gaps. Many entities provide small businesses with loans. The US Small Business Administration provides loans and helps build the capacity of the small businesses … Continued
3 Reasons Why Small Businesses Are More Important Than You Think
Businesses are essential in societies. Most people regard big business entities more highly than small businesses. However, small businesses are often the driving force in a local economy. They employ many and get products and services as close to the people as possible. According to SBA statistics, only 0.01% of the businesses in the US … Continued
August 2022 Newsletter
The southeast side of Michigan has always been popular with festivals, museums and art fairs with one of the largest located in the heart of downtown Ann Arbor.
How Can I Qualify for a Business Loan?
Taking out a business loan offers many benefits. For instance, business owners regularly rely on loans to fund the expansion of their facility, add a new facility, procure equipment, and obtain the working capital necessary to hire labor and purchase inventory. Before applying for a business loan, it is essential to do your research and … Continued
Understanding the 504 SBA Loan Approval Process
One of the most important considerations when taking out a loan is the length of the approval period. The SBA loan approval process takes two to three months with most lenders. The procedure necessitates patience, as potential borrowers must complete several forms and undergo verification which we will discuss today. SBA 504 Loan Approval Time … Continued