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MCDC | SBA 504 Rates for February and Northern Michigan Office

MCDC-Logo CroppedFebruary 2023 Rates and News

6.01% 25-Year Debenture – 6.03% for Refinance
5.98% 20-Year Debenture – 6.00% for Refinance
6.16% 10-Year Debenture – 6.18% for Refinance
 
Your Local SBA Lender and
the #1 Leading Lender in Michigan


Northern Michigan Office
Loan Officer Eric Maly
Everyone has been hit by inflation and this includes small businesses however, recently, the SBA has reduced fees on loan products to make the cost of starting or expanding a business more reasonable. This month we’re focusing on Northern Michigan where Senior Loan Officer Eric Maly has been in the financial industry for more than 25 years. Located in Traverse City, he’s very familiar with the region and small businesses.
 
Eric understands that many people are blessed to
 
love the area where they work; a place with scenic drives, hiking trails and fresh air. As we mentioned in our June 2022 Newsletter the Upper Peninsula is where many remote workers are headed. This isn’t the only area in Michigan; it’s happening in the Northern Lower Peninsula, too. People who have jobs that can be performed remotely are relocating and creating opportunities for many new small businesses.
 
Year-round tourism never stops in Northern Michigan either. The lakes, forests, and dunes along with outdoor recreational activities such as ski slopes and golf courses all have seen an increase in visits. Hunting and fishing are also seeing a boost. This is profitable for restaurant and campgrounds and hotel owners along with many other tourism-related businesses.
 
Then there’s Mackinac Island bustling with brewery’s, boutiques, bed & breakfasts, bicycle shops, and spa services. And for the year-round residents, they still need grocery and hardware stores, medical centers, schools, etc. There’s an abundance of business prospects on the Island.   
 
The trend of northern living is on the horizon for entrepreneurs and remote workers. Eric Maly is fully equipped and ready to assist small businesses, armed with lower down payments, below-market interest rates, and extended terms on financing. Eric and his wife raised their four children in Northern Michigan having lived in Traverse City for over 22 years. With a history steeped in the Northern Michigan culture, Eric fully embraces what “up-north” living and values encompass. To learn more about Eric view our press release here. To learn more about favorable terms such as low down payments and reduced fees on SBA loan products contact your regional loan officer below.
 
Contact your Regional MCDC Loan Officer
 
 
 
 
 
Mike Ufford
Senior Loan Officer
Macomb, E. Detroit & E. Oakland County
 
(810) 329-4340
 
 
 
 
Scott Vroegindewey
Senior Loan Officer
West Michigan
 
(616) 405-5754
 
 
 
 
Jack Johnson
Senior Loan Officer
Ann Arbor, Detroit & W. Oakland County
 
(734) 222-4954
 
 
 
 
Todd Horton
Senior Loan Officer
Upper and Northern Lower Peninsula
 
(906) 298-0138
 
 
 
 
Coty Gould
Loan Officer
Lower Central Michigan
 
(989) 318-4988
 
 
 
 
Eric Maly
Loan Officer
Northern Michigan
 
(231) 246-8022
 
 
 
 
Steve Pricco
Director 7(a) Lending
Statewide
 
(517) 220-2394
 
With seven offices throughout Michigan, MCDC’s experienced team will work with you through every step of your SBA Loan. MCDC is a non-profit corporation certified by the U.S. Small Business Administration to provide SBA 504 Loan Financing and 7(a) Lender Services. For four decades, MCDC has been a leader in SBA financing in Michigan, participating in projects impacting more than 64,000+ jobs and more than $3 Billion of economic investment. For more information, please feel free to call us at 833-4SBA-LOAN or 833-GET-7ALOANS or visit us at www.michigancdc.org 

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4100 Capital City Blvd.
P.O. Box 15279
Lansing, MI 48906

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