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 this designation, and we are excited to announce that our ALP status has been extended through May 2026. This prestigious designation is awarded only to the nation’s highest-performing SBA 504 lenders and is a mark of excellence, demonstrating a CDC’s exceptional proficiency in processing and servicing SBA 504 loans. To qualify for ALP status, a CDC must meet specific criteria, including having a well-trained staff proficient in SBA lending policies and procedures. Currently, out of the 200 Certified Development Companies (CDCs) in the country, fewer than 90 have achieved this status. Maintaining this elite status for years is a significant achievement for GLCF, and we are honored to be among this distinguished group.
How Does ALP Status Impact Our Lenders and Borrowers?
ALP status grants GLCF the authority to streamline certain functions of the SBA 504 loan process, increasing our speed and efficiency. Additionally, it allows us to participate in the SBA’s ALP Express Pilot Program, further enhancing our service capabilities. This increased proficiency ultimately means our borrowers can access the funds they need with less delay.
What is SBA’s Express Pilot Program?
The ALP Express Program was first introduced in December 2020 as part of the COVID Relief Bill and launched in June 2022. This program allows GLCF to approve, close, and service qualified 504 loans under $500,000, which is approximately a $1.2 million total project. Once GLCF determines a project is qualified, the application is sent to the SBA so they can validate eligibility. Because the SBA relies more heavily on GLCF to underwrite the loan, it expedites the overall approval process. The intent is to approve loans in half the time and create efficiencies in processing ALL 504 loans, allowing the SBA to focus its internal resources on larger, more complex loans.
About GLCF:
GLCF is a non-profit lender committed to supporting small businesses across Michigan. As a Certified Development Company licensed by the U.S. Small Business Administration (SBA), we proudly offer the SBA 504 loan program statewide. Our ongoing partnership with the SBA empowers us to make a significant impact throughout the state. The renewal of our prestigious ALP designation underscores our unwavering commitment to excellence and our dedication to fostering the growth and success of small businesses in Michigan. To learn more about our organization, please click here.
Contact Us:
If you have a project you would like to discuss, please call our office at (616) 459-4825 or email one of our loan officers by clicking on their name below:
Bradd Pierce – Southwest Side of Michigan
Tom Sreckovic – Southeast Side of Michigan
Gary Witkowski – Northern Michigan