June 2023 Rates & News
6.33% 25-Year Debenture – 6.35% for Refinance
6.38% 20-Year Debenture – 6.40% for Refinance
6.05% 10-Year Debenture – 6.07% for Refinance
Your Local SBA Lender and
the #1 Leading Lender in Michigan
Customer Spotlight
Tecla Company, Inc.
It was the great inventor Thomas Edison who inspired Tecla Company, Inc.’s founder Thomas E. Clark to start his own small business in 1897. Located in Commerce Township, Tecla Company Inc. owns a large building that they purchased in 1997 and they were looking to refinance and use additional equity to pay down other debt.
From the recommendation of First State Bank, current owners Richard, Robert, and Jeffrey Clark contacted MCDC Senior Loan Officer, Mike Ufford to help facilitate the processing and closing. With the help of MCDC’s experienced team and the SBA 504 Loan Program, the entire process ended up being seamless. The best part of the deal was that Tecla Company, Inc. realized benefits from the refinance, i.e.; below market, long-term interest rate, and extended amortization.
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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
Michigan Certified Development Corporation
Phone: (517) 886-6612 | Fax: (517) 886-6619
