Julie Parker | Grow Michigan

SBA Releases A New SOP, New Rules on Affiliation, and Eliminates the Loan Authorization!

GLCF received the following information from the SBA’s Office of Capital Access (OCA). They have published several important documents that will affect both the 7(a) and 504 loan programs. SOP 50 10 7 is effective Aug. 1, 2023, and will apply to all 7(a) and 504 applications received by SBA on or after that date. SBA Lenders and SBA employees …

Gary Witkowski is Back Serving the Northern Michigan Market!

Gary Witkowski is back in Northern Michigan! After a recent staff change, in addition to his current role of managing the credit and sales departments, Gary Witkowski is back serving the lenders and small business owners of Northern Michigan as Loan Officer! GLCF has been and continues to be the #1 SBA 504 provider in Northern Michigan, and we are excited to …

GLCF’s On-Staff Attorney Elevates Our Closings Process To Best-In-Class!

In July of 2022, GLCF welcomed the addition of Lexi Woods, General Counsel, to the GLCF team! Lexi’s primary focus at GLCF is in our Closing Department. She uses her legal expertise to streamline the closing and funding process and ultimately allows GLCF flexibility and control over the timing that outsourcing cannot always provide. GLCF is only one of a …

Great Lakes Commercial Finance is Named CDC Lender of the Year for FY 2022

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 ...

The Benefits of the 504 Loan Program for your Business

If you’re a lender or a small business owner, you’ve probably heard of the SBA 504 loan program. Great Lakes Commercial Finance (GLCF) is an accredited lender authorized by the U.S. Small Business Administration (SBA) to administer the 504 loan. We partner with banks and credit unions all over the State, offering a unique 50/40/10 loan structure that benefits small ...

The SBA 504 Loan Program in a Rising Rate Environment

Inflation. Price Increases. Rising Interest Rates. These topics seem to be on everyone’s minds, especially as small business owners continue to navigate the current economic conditions and stabilize or grow their businesses. While these conditions significantly impact businesses and communities, the SBA 504 Loan Program is still a fantastic financing tool for those looking to expand or grow. Here is a quick look ...

SBA 504 Application Do’s and Don’ts

The GLCF team is second to none, and we have years of experience helping entrepreneurs through the SBA 504 Loan Application process. Additionally, our loan officers personally assist our lenders and borrowers through the process to keep things moving. Below are some helpful “do’s and don’ts” that we have gleaned along the way to help make this process as smooth ...