At Great Lakes Commercial Finance, we deeply value our partnerships with banks, credit unions, and commercial lenders like you. As part of our commitment to supporting your success, we’re excited to announce the launch of our FY 2025 Economic Development Incentive Program, effective December 2, 2024, alongside our VetLoan Advantage Program.
This initiative is a key component of the strategic plan approved by the GLCF Board of Directors in August 2024, which focuses on economic development and program growth throughout our entire market area. It’s been carefully developed to maximize benefits for your lending institution (TPL), and the borrowers we both serve.
While other programs may exist, GLCF’s approach stands apart with greater availability and broader benefits, ensuring you and your clients receive unparalleled support.
How the Program Works:
- TPL receives an incentive equal to 50% of the TPL fee, up to $5,000.
- This incentive can be applied as you see best fit to win the opportunity — examples are waiving fees, covering professional costs, or benefiting your institution directly.
- Lenders qualify for the incentive if the SBA 504 Loan is approved prior to September 30, 2025, and will receive it at time of SBA funding.
Why partner with GLCF?
- Available to all opportunities located in Michigan and the counties in Indiana and Ohio that we are authorized by SBA to lend. For a complete list of counties in Indiana and Ohio please click here.
- No minimum SBA 504 loan amount.
- Backed by an unlimited funding pool through September 30, 2025.
- Guaranteed for all SBA 504 applications approved by September 30, 2025.**
**To ensure timely processing and eligibility determination, all projects must be submitted to GLCF no later than August 29, 2025. This deadline allows our team to thoroughly review submissions, verify eligibility, and collect any additional information needed to meet program requirements. Submissions received after this date may not be eligible for the incentive program.
Key Benefits:
Comparative Incentive Breakdown
Have Any Questions? Contact One of the Loan Officers in YOUR Area!
