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ICYMI: Michigan Business Beat | Mark Williams – What’s New with Michigan Certified Development Corporation

Michigan Business Network: Mark Williams MCDC

MBN: MCDC logoChris Holman welcomes back Mark A. Williams, President, MCDC, Michigan Certified Development Corporation, East Lansing, MI.

Watch Mark and Chris discuss insights on SBA loans, new financing options & Michigan’s small business lending trends. #SBALoans in the YouTube video shared below:

In their conversation Chris looked to find out several things from Mark; welcome back to the Michigan Business Beat;

  • What’s new with MCDC?
                Mark responds with their new loan product, Community Advantage so I can discuss what it is, why/how it differs from a bank or credit union SBA 7(a) loan.
                On 504 loans (Mark gives a brief description of the difference between 504 and 7(a)) they also have an Express product which he describes the advantages

  • They touch on some history for MCDC, which was about to achieve some milestones in loan volume (within the next year)?
                2,500 loans, $1.5Bn in SBA loans, $4Bn in total economic impact

  • What industries MCDC is seeing the most activity in?

                Hotels, franchise restaurants, manufacturing

  • As 504 loans require a bank or credit union, who are MCDC partnering with most?

                He hesitates to single anyone out, but they are seeing an increase in activity from the community banks and credit unions

General questions on SBA programs and lending volume in general.

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