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
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
The SBA 504 loan is a loan that SBA-approved Certified Development Corporations (CDCs) approve, close, fund and service. Prospective borrowers choose a CDC that serves the location of their project, and the CDC will work with a financial institution (usually a bank or credit union) to gain approval from the institution and the SBA. The … Continued
The 504 Loan is an attractive financing option designed by the U.S. Small Business Administration (SBA) to support and promote small business growth. With a minimal deposit and a fixed interest rate below the market, the program is more detailed about what you can do with the funds. The funds must be used to for … Continued
Michigan’s West coast has always been popular with miles of sandy beaches, dunes and lighthouses attracting visitors from all around. However, it’s also known for seasonal events that bring people together such as, The Tulip Festival in Holland, The Coast Guard Festival in Grand Haven, and The National Blueberry Festival in South Haven, to name … Continued
The Upper Peninsula of Michigan is commonly referred to by Yooper’s as “The Superior State”. You’ll find the toughest and most friendly folks around which includes our Senior Loan Officer, Todd Horton. Todd knows that dealing with winters builds strong character and hard workers.
The COVID-19 EIDL Program is not accepting new applications, increase requests or reconsiderations
A key component of what we do at Michigan Certified Development Corporation is economic development, specifically job creation.
It is with mixed emotions that we have two staffing announcements. While we are happy for him, it saddens us to announce the retirement of Michigan Certified Development Corporation Vice President – Operations, Dave Kramer effective May 31, 2022.
Many start-ups don’t see their operations beyond the second year due to the high cost of starting and running their operations. In fact, only 48% of small businesses overall have their financing needs met according to Fundera.com. Most small business owners consider loans instead of grants like an smb startup grant because of the many … Continued