Great Lakes Commercial Finance Welcomes Skylar Houchin as Credit Analyst

Great Lakes Commercial Finance (GLCF) is excited to announce that Skylar Houchin has joined the team full-time as a Credit Analyst. Skylar graduated from DePaul University with a degree in Honors Finance and a minor in Economics. He brings a diverse range of experience in wealth management and corporate banking, with expertise in investment research, commercial real estate, asset-backed lending, …

Great Lakes Commercial Finance Welcomes Charlie DeVries as Summer Intern

Great Lakes Commercial Finance (GLCF) has welcomed Charlie DeVries as an intern for the summer of 2025. Charlie is currently a sophomore at Hillsdale College, majoring in Economics and minoring in Financial Management. This internship will provide him with valuable exposure to lending and commercial banking. Throughout the next several months, Charlie will be assisting with application intake and risk ...

Changes Ahead: What the New SOP 50 10 8 Means for You

The U.S. Small Business Administration (SBA) released SOP 50 10 8 on April 22, 2025, with an effective date of June 1, 2025. It introduced new policy changes and signaled a return to more traditional, prudent lending practices, aligning with current executive orders and policy priorities. However, on May 29, 2025, the SBA issued an updated version—SOP 50 10 8 ...

7(a) Fees Are Back!

It's Time to Reevaluate the 504 Loan Advantage. There has never been a better time for businesses considering an SBA loan to choose the 504 loan program. Effective March 27, 2025, SBA reinstated fees on 7(a) loans for the remainder of FY 2025, making the 504 program even more cost-effective. The newly announced changes to 7(a) loan fees will increase ...