SBA Releases New SOP, Effective October 1st

The U.S. Small Business Administration (SBA) has released SOP 50-10-8.1, introducing updates that impact SBA 504 loan processing, eligibility requirements, and compliance procedures. The information below summarizes the key changes and clarifications lending partners should know. This overview is designed to help borrowers, lenders, and referral partners understand the updated requirements and potential effects on current and future financing opportunities. …

Great Lakes Commercial Finance is Named CDC Lender of the Year for FY 2025

The U.S. Small Business Administration (SBA) Michigan District Office has recognized Great Lakes Commercial Finance (GLCF) as the state's CDC Lender of the Year for Fiscal Year 2025. The award was presented to GLCF at the SBA Michigan Lender Awards Ceremony held at the Morris Lawrence Building at Washtenaw Community College in Ann Arbor, Michigan. The ceremony honored some of ...

Great Lakes Commercial Finance Welcomes Orlando Crump as Loan Officer

Orlando is a proud University of Michigan Ann Arbor alumnus — Go Blue! He brings extensive experience in the banking industry, with the last 15 years focused specifically on small business banking and commercial lending. As Loan Officer at GLCF, Orlando will be serving the Southeast Michigan and Toledo markets. He will bring his deep expertise in small business lending ...

Great Lakes Commercial Finance Welcomes Heather Vandenberg as Closing Specialist

Heather grew up in Jenison, Michigan and earned her Bachelor’s in Business Administration from Grand Valley State University. She brings hands-on lending experience in mortgages, auto loans, and personal loans, having worked alongside banks, credit unions, and mortgage companies throughout her career. She is eager to expand her expertise into the commercial lending space. As Closing Specialist at GLCF, Heather …

Great Lakes Commercial Finance Welcomes Teresa Brooks as Closing Specialist

Teresa attended Michigan State University and Davenport University, where she earned her Bachelor’s in Business Administration. She brings a wealth of experience to her role, having spent several years in consumer lending, 17 years in the real estate industry, and 13 years in title insurance. As Closing Specialist at GLCF, Teresa will be responsible for ensuring all requirements and documents …

SBA Changes Financing Capabilities

Big news for the 504 program! Earlier this week, SBA released SBA Policy Notice 5000-879058, effective July 4, 2026. NADCO, our national association, prepared the following summary. We appreciate their work in keeping us informed on changes like this. 1. Outstanding 7(a) loans generally will no longer reduce the maximum SBA 504 debenture available to a borrower. Specifically, a lender …

Women’s History Month – Featuring Jodi van Haren

Great Lakes Commercial Finance is proud to celebrate Women’s History Month by spotlighting our valued borrower, Advantage Mechanical Refrigeration (AMR), and owner Jodi Van Haren. Through the SBA 504 Loan Program, GLCF provided financing that enabled AMR to purchase land and complete a building renovation. The structure offered a lower down payment and a long term fixed interest rate, which ...

Potential Government Shutdown

Dear Lending Partners:   Recent developments on Capitol Hill have increased the likelihood of a short-term government shutdown. Here’s what you need to know:   Key Details: The federal government is currently operating under a continuing resolution (CR) through Friday, January 30, 2026. Senate Democratic leaders have indicated they will not support the current funding package, including Department of Homeland Security …

504 Bills Pass the House

504 Bills Pass House: What This Means for Small Businesses: Our national association, NADCO, recently passed along important news: on January 20, the U.S. House of Representatives approved five small business bills, including two that could positively impact the SBA 504 Loan Program. We’re sharing this update so our lending partners have the latest information before these bills move to the Senate.   ...

SBA Reopens and GLCF Has Hit the Ground Running

November 13, 2025 The federal government and SBA are officially open for business again, and the Great Lakes Commercial Finance Team is already working to submit applications and move projects forward. With the President’s signature now in place, SBA’s Office of Capital Access has reopened its loan systems. ETRAN is live as of 12:01 a.m. on November 13, and SBA …