Monthly Interest Rates
and Other 504  News
June 2017
June 2017
Interest Rates
20 Year Standard
4.59%
20 Year Refinance
4.64%
 10 Year Standard
4.51%
 10 Year Refinance
4.55%
7(a) Packaging
 
EDF  can assist your organization with 7(a) Loan questions and eligibility, and then prepare loan packages and submit them directly to the SBA for approval.   If requested,  EDF  will work directly with the business owner and respond to and assist SBA throughout the approval process.   The fee is based on the size of the loan. For more information,
please call  EDF's  7(a) Specialist, Amy Dubridge at (616) 323-1279 or you may send an email to Amy@growmichigan.com.

EDF Welcomes Amy Dubridge!
We are pleased to announce the addition of Amy Dubridge to the EDF team!  Amy will serve as a Junior Loan Officer and 7(a) Specialist.   Amy comes to EDF with over 18 years of banking experience from Customer Service to Portfolio Management.  A large portion of her career was spent in commercial lending where she gained knowledge and understanding of SBA financing at a preferred lender. 
 
Amy is happily married to her high school sweetheart, Eric, for almost 18 years and they enjoy spending time outdoors as much as possible with their two pit bulls.

To get in contact with Amy regarding a 7(a) or 504 loan, you can call her directly at (616) 323-1279 or send her an email at Amy@growmichigan.com.

 
Amy Dubridge
Junior Loan Officer
7(a) Specialist
Featured Funding!
Aromech, Inc.
 
EDF worked with West Michigan Community Bank to fund a 504 loan for Aromech, Inc. located in Holland, MI.  The 504 program allowed Fred Egge, the founder and sole owner of Aromech, to purchase an office condominium, complete renovations to the office space and purchase equipment. The purchase of the new office condominium replaced his existing lease and allows sufficient space for client meetings, workspace, and room for growth of additional employees.

Fred started Aromech, Inc. in 1996 and has been operating the day-to-day business for the past 20 years. Aromech, Inc. works with companies of all sizes who have discovered they can greatly reduce the build and implementation time of custom automated systems and tooling by partnering with a reliable engineering and design service organization. Aromech provides world class Mechanical Engineering and Automated Equipment design, combined with seamless integration of 3D Design Skills and Analysis Tools. Aromech provides services ranging from small fixture designs to the complete outsourcing and document archival of a client's entire engineering and design needs.  
 
 
"Thank you for the friendly, professional, and expeditious experience I had with your organization implementing my loan on the 504  program.  I was impressed by the detailed knowledge and fluid communication the whole team had with my bank, real estate agent and attorney. Everyone seemed connected with each other, and I was just being copied with minimal tasks throughout the process. Felt like the "A" team was on my side, and this greatly reduced the stress / workload I was anticipating from talking to others who have previously taken part in the 504 program."
 
 
 - Fred Egge, Owner
Aromech, Inc.


Gary Witkowski, Loan Officer at   EDF , joined forces with Andrew Rugg of West Michigan Community Bank, to help finance the building and equipment for Aromech.  The SBA 504 program allowed Mr. Egge, to purchase his building and equipment at a low interest rate for 20 years, with only 10% down. Fred was very pleased with EDF and his level of service and wrote the following, "Thank you for the friendly, professional, and expeditious experience I had with your organization implementing my loan on the 504 program.  I was impressed by the detail knowledge and fluid communication the whole team had with my bank, real estate agent and attorney. Everyone seemed connected with each other, and I was just being copied with minimal tasks throughout the process. Felt like the "A" team was on my side, and this greatly reduced the stress / workload I was anticipating from talking to others who have previously taken part in the 504 program."

To learn more about the benefits of the 504 Loan or how  EDF  can assist you or your clients, please visit our website at  growmichigan.com   or call our office at (616) 459-4825.


Aromech, Inc. -  2495 112th Avenue, Suite 8 - Holland, MI  49424
EDF's Lender
Leader Board
EDF  would like to thank all of the lenders that have had loans authorized with us so far this fiscal year.  At the end of our fiscal year (9/30/17), the lender and lending institution with the most loan approvals will receive our Lender of the Year Award. Monthly,  EDF  will start posting this information so you can see where your bank ranks!

Lender Name
Number of Loans


Traverse City State Bank
13 Loans
Huntington Bank
5 Loans
Grand River Bank
4 Loans
Chemical Bank
4 Loans
Macatawa Bank
2 Loans
West Michigan Community Bank
2 Loans
Chase Bank
1 Loan
Choice One Bank
1 Loan
Comerica Bank
1 Loan
First Community Bank
1 Loan
First National Bank of MI
1 Loan
Honor State Bank
1 Loan
*Totals are as of 5/31/17
36 Loans

Do you want to see your organization's name on this list?  We do too!  If you have a project that you would like to discuss, please call either Bradd Pierce  or Gary Witkowski.   Bradd can be reached at (616) 323-1277 or  Bradd@growmichigan.com  and  Gary can be reached at (616) 323-1275 or  Gary@growmichigan.com.
 
Staff Directory

The EDF team consists of eight professionals with many years of SBA 504 experience combined, so please put our expertise to use and call us with any questions you have about the program.  

Julie Parker
President
(616) 323-1276
Gary Witkowski
Loan Officer
(616) 323-1275
Bradd Pierce
Senior Loan Officer
(616) 323-1277
Matt Mankivsky
Junior Loan Officer
(616) 323-1278
Kyle Wilson
Servicing Manager
(616) 323-1272
Abbey Byrne
Closing Manager
(616) 323-1274
Laura Seromik
Closing Specialist
(616) 323-1273
Amy Dubridge  Junior Loan Officer & 7(a) Specialist
(616) 323-1279
Amy@growmichigan.com

Economic Development Foundation
616-459-4825
1345 Monroe Ave NW
Suite 132
Grand Rapids, MI 49505