December 2017

December 2017 Interest Rates

20 Year Standard Rate - 4.50%

20 Year Refinance Rate - 4.55%

10 Year Standard Rate - 4.47%

10 Year Refinance Rate - 4.52%

Season's Greetings!

Best wishes for a happy holiday season along with our sincere thanks for your loyalty and goodwill throughout the year!  Economic Development Foundation Pictured from left to right: Laura Seromik, Gary Witkowski, Bradd Pierce, Amy Dubridge, Nik Hoezee, Julie Parker, Kyle Wilson, Matt Mankivsky and Abbey Byrne

Holiday Hours! Our office will be closed the folloiwng days so our  employees can enjoy this special time with their familes! December 25 and 26 - CLOSED January 1 and 2 - CLOSED

EDF Welcomes New Board Members We are very excited to introduce you to the three newest members of our Board of Directors! Matt Hoeksema, Cerise Semrinec, and Steve Wilson have all served on the Lakeshore 504 Board prior to the EDF /Lakeshore 504 merger, so they all have many years of expertise and are very familiar with the SBA and the 504 Loan Program. They were all elected to serve two three-year terms.

Matt Hoeksema SVP, Chief Commercial Banking Officer Macatawa Bank Cerise Semrinec Senior Vice President Credit Administration Community Shores Bank Steve Wilson Principal North Star Commercial

EDF Welcomes New Intern We are excited to introduce you to our new intern, Nik Hoezee. Nik is assisting in the servicing, credit, and closing departments and helps with miscellaneous projects. Nik is is currently a senior at Grand Valley State University studying for a dual major in accounting and finance. He has an expected graduation date of April 2018. Before joining EDF , Nik was a consumer loan officer at a local credit union, with responsibilities of reviewing applications, underwriting, and loan closings.

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 (9/30/18), the lending institution with the most loan approvals will receive our Lender of the Year Award. Additionally, all lenders that work with EDF  will have the opportunity to compete in next year's Lenders Cup Golf Tournament!

Traverse City State Bank 3 Loans

Chase Bank 1 Loan

Comerica Bank 1 Loan

Grand River Bank 1 Loan

Honor Bank 1 Loan

Union Bank 1 Loan

West Michigan Community Bank 1 Loan

FY 2018 Total Totals as of 11/30/2017 9 Loans

Featured 504 Funding Xpert Fulfillment Gary Witkowski, Loan Officer with EDF , had the opportunity to work with SVP Commercial Lending – SBA Product Manager, Mitchell Blue of Traverse City State Bank on an SBA 504 project for Xpert Fulfillment, Inc. This is the company’s second SBA 504 Loan. The SBA 504 program assisted Xpert Fulfillment in expanding their growing business by providing a 20-year term loan at a low fixed rate. The opportunity included the purchase of a 78,000 SF warehouse near their existing location. Along with the purchase they refinanced the existing SBA 504 loan into this new request. This expansion is expected to create 20 new full time jobs. Bob Boylan, his brothers Lucas and Seth, and their mother JoAnn own Xpert Fulfillment located in Benzonia, MI. The company is an order management, warehousing and logistics provider for start-up and established online businesses. Founded in 2008, the company offers business solutions for both Business-to-Business, and Business-to Consumer clients, including fulfillment and distribution, inventory management, assembly, order management, and returns processing services. To learn more about the benefits of the SBA 504 Loan Program, or how  EDF  can assist you, please visit our website at  www.growmichigan.com , or call one of our Loan Officers   Gary Witkowski  or  Bradd Pierce .

Call EDF for your 7(a) Packaging Needs EDF   can assist your bank or credit union with 7(a) Loan eligibility and questions. We can also prepare loan applications and submit them directly to the SBA for approval. If you do not have an in-house SBA specialist, please consider using  EDF .  For more information, please call Amy Dubridge at (616) 323-1279  or you may send an email to Amy@growmichigan.com . Schedule a Lunch and Learn   EDF   would love the opportunity to bring lunch to your organization, get to know your entire team, and do a brief presentation on the benefits of the 504 Loan Program. We are currently scheduling into February and March. If you would like to set up a time, please call Kyle Wilson at  (616) 323-1272  or you may send an email to  Kyle@growmichigan.com .

EDF Staff

‌ Julie Parker President (616) 323-1276 Julie@growmichigan.com m ‌

Loan Officers 

Bradd Pierce Senior Loan Officer (616) 323-1277 Bradd@growmichigan.com  ‌ Gary Witkowki Loan Officer (616) 323-1275 Gary@growmichigan.com 

Credit Department 

Amy DuBridge Junior Loan Officer & 7(a) Specialist (616) 323-1279 Amy@growmichigan.com  ‌ Matt Mankivsky Junior Loan Officer (616) 323-1278 Matt@growmichigan.com 

Closing Department 

Abbey Byrne Closing Manager (616) 323-1274 Abbey@growmichigan.com   ‌ Laura Seromik Closing Specialist (616) 323-1273 Laura@growmichigan.com

Servicing Department 

Kyle Wilson Servicing Manager (616) 323-1272 Kyle@growmichigan.com   ‌ Nik Hoezee Intern (616) 459-4825 Nik@growmichigan.com 

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