Heather Kirby

Heather Kirby is a 504 Funding Coordinator for Michigan Certified Development Corporation. She joined the MCDC staff in August 2022 and is responsible for the processing and closing of loans. Prior to her position with the MCDC, Heather worked in the mortgage banking and financial services industry for over 15 years. Heather is a graduate … Continued

How Can I Qualify for a Business Loan?

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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

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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

5 Requirements You Need to Meet for 504 SBA Loan Eligibility

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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 Purpose of 504 SBA Loans

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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

July 2022 Newsletter

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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

June 2022 Newsletter

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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.

COVID-19 EIDL Program Notice

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The COVID-19 EIDL Program is not accepting new applications, increase requests or reconsiderations

May 2022 Newsletter

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A key component of what we do at Michigan Certified Development Corporation is economic development, specifically job creation.

James Schrader

James is an underwriter for the MCDC who joined the staff in April 2022. His responsibilities include financial analysis of loan applicants, eligibility determination, loan packaging and working with SBA to get loans approved. James comes to the MCDC from 1st State Bank where he served over three years, most recently as a Credit Analyst II. … Continued