Current Rate - May-12
4.46% 20 year rate 4.67% 20 year RFI
3.75% 10 year rate 3.99% 10 year RFI

May-12

20-year Term: 4.46%
10-year Term: 3.75%

20-year Term RFI: 4.67%
10-year Term RFI:3.99%

See rate history

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SBA 504 Loans
June 2011 Newsletter

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Current Rates

20-year rate: 5.51%

20-year refinance rate: 5.88% 

10-year rate: 4.58%

10-year refinance rate: 5.01% 

  

EDF Contacts

Ph.  616-459-4825
Fax 616-458-5736
TF  888-330-1776

  

Sandy Bloem   

Executive Director

Cell 616-540-6753 

sandy@growmichigan.com  

 

Bradd Pierce

Loan Officer

Cell 616-304-8881 

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  

June's SBA 504 20-year effective rate is 5.51%.  10-year bonds were sold last month with an effective rate of 4.58%. Please note that refinance rates will be slightly higher than regular 504 rates.  (Rates may also vary slightly based on approval date.) 

WHS
Women's Health Care Specialists, PC
Women's Health Care Specialists, PC, owned by Dr. Roger Beyer, has moved into their new building at 7110 Stadium Drive in Kalamazoo, MI.  Dr. Beyer started his practice, Women's Health Care Specialists, PC, specializing in urogynocology and pelvic floor disease in 1984 and grew it into two leased facilities in Paw Paw and Gull Lake Rd. in Kalamazoo.  When the time came for Dr. Beyer to consolidate his facilities and build a state of the art medical building with increased patient care, Economic Development Foundation was able to assist Dr. Beyer with the purchase of land and construction of the new facility. 

 

Sandy Bloem, President of Economic Development Foundation, states "We are proud to help doctors like Dr. Beyer find the best use of their resources so that they are able to concentrate on their patients.  EDF handles all the paperwork to make it easier for both the doctor and the banker." 

 

EDF partnered with Johanna Nabonzy at Fifth Third Bank, for this project.

NADCO Annual Meeting

Last month, several EDF employees attended the National Association of Certified Development Companies' (NADCO) annual meeting.  NADCO is the trade association for all Certified Development Companies.

 

One of the main topics was on the temporary debt refinance program and how to expand it even further to assist small businesses who want to lock in 20-year financing.  NADCO and SBA informed us that they have been reviewing some key components to the regulations, including structure and appraisal requirements.

 

At this time NO further changes have been made to the refinance program aside from the elimination of the 12/31/2012 maturity requirement.  EDF will keep you updated as changes occur.

"Financing Growing Businesses in Michigan Since 1981"