The U.S. Small Business Administration (SBA) Michigan District Office recognized Great Lakes Commercial Finance (GLCF) as the state’s CDC Lender of the Year for 2022. The award was presented to GLCF’s President, Julie Parker, at SBA’s Michigan Lender Awards Ceremony on April 11, 2023. Held at the Federal Reserve Bank in Detroit, the Awards Ceremony honored some of the most active SBA lenders across the state who provide capital to Michigan small businesses. Several other lending entities were recognized for their outstanding efforts in a variety of categories.
The CDC Lender of the Year is for the best overall performance by a certified development company in Michigan, taking into consideration volume, increased area coverage, and participation in SBA programs and community activities. Consideration is given to year-over-year loan volume increases. Additionally, the CDC must also be in good standing with the SBA. GLCF is extremely honored by the recognition.
“Receiving the CDC Lender of the Year award is such an honor and a testament to our experienced, hardworking team and their dedication to helping small businesses succeed.” shared Julie Parker, President. “This level of success would have never been achieved without the support of our board of directors and loan committee members. Most importantly, we share this award with the small businesses of Michigan and all the banks and credit unions we partner with to deliver this program throughout the state.”
Fiscal Year 2022 served as a high-volume year for GLCF, approving 73 new loans with a total project cost of $170,100,797 and a total 504 portion of $61,840,000 to small businesses across the state. These loans were used to buy, build, or refinance fixed assets for businesses such as buildings, machinery, or equipment. Additionally, these loans are anticipated to create 753 jobs over the next two years.
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