In Partnership With

Advance. Transforming Communities. Transforming lives. Cinnaire

MCDC | SBA 504 Rates Have Never Been This Low!

July 13, 2020

Michigan Business Network

July Rates and News

2.41% 25-Year Debenture – 2.41% for Refinance

2.34% 20-Year Debenture – 2.34% for Refinance

2.40% 10-Year Debenture – 2.40% for Refinance

MCDC Spotlight Kim Gosnell

504 Servicing Specialist Kim Gosnell has been working from home since day one of the stay-at-home orders and has managed to achieve as many goals as ever. Kim has been an integral part of keeping the MCDC borrowers informed of the status of their loan every step of the way. And, when it came time to submit Paycheck Protection Program loan (PPP) applications, she was instrumental in the MCDC rising to the occasion.

Adjusting to a home office vs. a corporate office has proven difficult but dealing with her dog Tessa was probably the most challenging. Tessa thought that Kim was staying at home to take care of her every need and give her the undivided attention she felt she deserved. This was at first, a bigger adjustment for Kim than setting up her files, computer, printer, etc. and getting organized in her new domestic setting!

It’s taking some time, but Tessa has finally figured out the new schedule. Kim setting some ground rules and getting Tessa into a routine was an imperative first step. It took some getting used to but now that both have been at home together for a while, Kim and her new co-worker have finally figured out how to work and find time for play.

Obviously, we didn’t need to ask Kim what she did in her spare time but here goes…

What do you do you do in your spare time?

In my spare time Tessa and I are outdoors taking walks or playing. Her favorite game is going after her ball. She’s very active and she keeps me on my feet all the time. Now that I’m working from home, I feel like I need to be more active during our playtime just to wear her down so I can get some work done. However, what really happens is, I wear myself down so much that when it’s time to do my job it feels good to finally sit down. I also love to be outside, bike riding and gardening.

How has MCDC helped you in your career development?

In my tenure with MCDC my position has grown. In addition to my loan servicing duties, I am the Project Cost Coordinator. With this new responsibility I manage the Proof of Borrower Equity and Use of Proceeds for the loan funding process to ensure all requirements of the SBA are met. This provided a new challenge and requires greater depth of knowledge of the SBA rules and regulations for closing and construction.

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 more than 35 years MCDC has been a leader in SBA financing in Michigan, participating in projects impacting more than 62,000+ jobs and more than $2.9 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