Blog

The SBA’s updated Standard Operating Procedure (SOP 50 10 8) effective June 1, 2025, brings a number of important changes for lenders and Certified Development Companies (CDCs). Some updates are

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,

UPDATE: 6:12 PM on Tuesday, January 28, 2025 A federal judge has temporarily halted the Presidential pause on grants, loans, and other financial assistance programs. The judge’s order indicates the

Great Lakes Commercial Finance (GLCF) is excited to welcome John Laman to our team full-time as a Loan Officer supporting Southeast Michigan. John has extensive commercial lending experience spanning 12

Great Lakes Commercial Finance (GLCF), headquartered in Grandville, Michigan, is a nonprofit Certified Development Company (CDC) licensed by the U.S. Small Business Administration (SBA) and has been lending to businesses

Now that Fiscal Year 2024 has ended, we want to thank all of our partnering lenders for helping make it a successful one. Your trust and commitment are greatly appreciated.

Meet GLCF's Closing & Servicing Team- We are Here to Serve You! We’d like to introduce our expanded Closing and Servicing team, led by Laura Seromik. We’ve grown our team

Great Lakes Commercial Finance (GLCF) is excited to welcome David Yepez to our team as a Closing and Servicing Specialist. David is a 2024 graduate of Hope College, where he

At the beginning of October, the Small Business Administration (SBA) announced changes to the Debt Refinance Program that will take effect on November 15, 2024. These changes will streamline the

Great Lakes Commercial Finance (GLCF) is pleased to welcome Katy Bosworth as our team’s newest Closing Specialist. Katy Bosworth studied business at Grand Valley State University, where she developed a

Great Lakes Commercial Finance (GLCF) is thrilled to announce that Shannon Dwyer has joined our team full-time as a Loan Officer. Shannon Dwyer graduated from Western Michigan University with a

Great Lakes Commercial Finance (GLCF) is excited to announce that Elise Rapeyko has joined the team full-time as their Marketing and Communications Specialist. Elise Rapeyko graduated from Grand Valley State

The SBA has announced its fee structure for Fiscal Year 2025 (starting October 1, 2024), and it’s time to get informed. 504 fees are reduced and 7(a) remain the same!

Great Lakes Commercial Finance (GLCF) proudly announces Laura Seromik's promotion to Vice President of Closing and servicing. Laura, who recently celebrated her ninth anniversary with GLCF, brings an impressive 30

GLCF Earns Prestigious ALP Designation Extension for Another Two Years GLCF has proudly been part of the SBA’s Accredited Lender Program (ALP) for years. Every two years, we reapply for

Are you a small business ready to expand?  Look no further than the SBA 504 program!  One of the biggest issues small businesses encounter have to do with proper financing.

As of March 21, 2024 Courtesy of our national association, NADCO. FY24 Government Funding Status: Congress has agreed on government funding and released the final six funding bills earlier on

Great Lakes Commercial Finance (GLCF), a leading provider of SBA 504 loans in Michigan, is pleased to welcome Chazney Balmer to their team as a Closing Specialist.  Chazney is part

Great Lakes Commercial Finance (GLCF), a leading provider of SBA 504 loans, is pleased to announce the appointment of Tom Sreckovic as the new Commercial Loan Officer responsible for serving

We are excited to extend a special invitation to all commercial lenders and their lending teams to an informative seminar followed by a networking happy hour! Industry Insights: During the

Looking for an experienced SBA 504 Loan Officer? Meet Bradd Pierce. Since 2010, Bradd Pierce, Senior Loan Officer, has developed relationships and trust with lenders and small business owners throughout

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

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

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

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