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Current Rates
20-year rate: 5.89%
20-year refinance rate: 6.25%
10-year rate: 4.89%
10-year refinance rate: 5.30%
EDF Contacts
Ph. 616-459-4825
Fax 616-458-5736
TF 888-330-1776
Sandy Bloem
Executive Director
sandy@growmichigan.com
Bradd Pierce
Loan Officer
bradd@growmichigan.com
Gary Witkowski
Relationship Manager
gary@growmichigan.com
Seth Beals
Relationship Manager
seth@growmichigan.com
Kecia Flynn
Portfolio Manager
kecia@growmichigan.com
Abbey Byrne
Closing Manager
abbey@growmichigan.com
Jill Dean
Administrative Assistant
jill@growmichigan.com
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April's SBA 504 20-year effective rate is 5.89%. 10-year bonds were sold last month with an effective rate of 4.89%. Please note that refinance rates will be approximately 30 basis points higher than regular 504 rates. (Rates may also vary slightly based on approval date.)
In this edition:
- EDF Lender of the Year
- Rural Small Business Capital Access Conference
- Kindle Winner from the SBA Michigan Lender's Conference
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We are pleased to announce Mitchell Blue, Assistant Vice President, Commercial Lending, SBA Product Manager at Traverse City State Bank, as EDF's 2011 "Small Business Administration (SBA) 504 Lender of the Year". This award is given annually to a lender that shows leadership and resourcefulness by working closely with small businesses to help them finance fixed assets through the SBA 504 program.
Mitchell was awarded this honor by partnering with EDF on SBA 504 loans throughout 2010 that assisted small businesses to create and retain jobs in Michigan. "We need bankers like Mitchell that help the State of Michigan back to economic recovery by lending money to small businesses that are expanding", EDF President Sandy Bloem said during the presentation at the Michigan SBA Lenders Conference in Lansing on March 31, 2011.
"We are all very proud to have Mitchell as part of our team at Traverse City State Bank. He joined the bank in 2009 and was able to quickly get the other lenders and staff up to speed on SBA lending programs and procedures. Mitchell is a leading SBA lender in our community. Mitchell works hard to deliver outstanding service to all our clients. He is the true spirit of our Bank's motto: Thrive Here!" said Connie Deneweth, Chief Executive Officer and President, Traverse City State Bank.
EDF would like to again congratulate and thank Mitchell for a great year of partnership with the EDF!
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Rural Small Business Capital Access Conference
EDF would like to invite everyone to the upcoming Rural Small Business Capital Access Conference. EDF believes that access to capital is a key to helping small businesses grow and create jobs, so we are sponsoring this conference. The conference is being held on April 26, 2011 in Lansing at the MSU Kellogg Center from 8:30 am to 4:30 pm.
Participants will hear presentations from national and state experts on issues associated with small businesses' access to capital, especially in rural markets. By understanding how lenders and regulators approach and apply lending standards, small businesses can use this knowledge to their advantage in seeking loans. Those attending will also have the opportunity to participate in small group discussions and use their new insights to make new recommendations to improve small businesses' access to capital.
Lt. Governor Brian Calley, a former lender, will deliver the luncheon keynote address. A reception will follow the conference.
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Kindle Winner
Thank you to everyone who stopped by our booth at the SBA Lender's Seminar last Thursday. EDF had a drawing for an Amazon Kindle (portable e-book reader) and the winner was Dale Brown of PNC Bank.
Congratulations Dale!
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"Financing Growing Businesses in Michigan Since 1981"
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