May 2010 Newsletter

May's SBA 504 20-year effective rate is 5.52%. 10-year bonds were also funded this month, and the 10-year bond effective rate was 4.60%. (Rates may vary slightly based on approval date.)

The first article below congratulates one of our existing customers; DornerWorks, Ltd. The company was named one of the 50 companies to watch for 2010 at the Michigan Celebrates Small Business Awards!

The second article details the SBA ReadyTalk Session on May 6, 2010, offered by SBA's Detroit District Office. Details and directions are in the second article below.

50 Companies to Watch for 2010

We would like to congratulate one of our existing customers, DornerWorks, Ltd., for being named one of the 50 companies to watch for 2010. The announcement came at the Michigan Celebrates Small Business awards in Lansing on April 29th. DornerWorks financed a building purchase and renovation in 2007 using an SBA 504 loan with EDF. This expansion helped create almost 50 jobs!

DornerWorks, Ltd is an engineering consulting firm located in Grand Rapids. The company was founded in 2000 and provides expertise on embedded systems, for example, airplane flight controls or surgical tools where people's lives could be affected by a system failure.

DornerWorks, Ltd has seen growth in recent years due to an expansion of their services to the medical markets.

Dornerworks Building

Again, congratulations to DornerWorks, Ltd on being named as one of the 50 companies to watch for 2010!

SBA ReadyTalk Session

The next monthly ReadyTalk session for lenders is scheduled for Thursday, May 6 at 10:00 a.m. and will cover the following topics:

· Recovery Act update

· Lender portal presentation

· Updates on loan activity

· General Q & A

ReadyTalk is a Webinar program utilizing the Internet and a conference call system. To access the system:

From your computer:

1. Logon to www.readytalk.com

2. Login as a participant using the access code 3051501

3. Enter your name, email address, and company name as requested

From your telephone:

1. Dial 866.740.1260

2. Enter the Access Code 3051501 and press #

3. Say hello!

"Financing Growing Businesses in Michigan Since 1981"

May-12