July 2018
July 2018
Interest Rates
25 Year Rate
20 Year Rate
10 Year Rate
Lender Leader Board
EDF   would like to thank all of the lenders that have had loans authorized with us so far this fiscal year. At the end of our current fiscal year (9/30/18), the lending institution with the most loan approvals will receive EDF's Lender of the Year Award.
Independent Bank
15 Loans
Huntington Bank
6 Loans
Honor Bank
3 Loans
Choice One Bank
2 Loans
Lake Michigan Credit Union
2 Loans
Consumers Credit Union
2 Loans
Grand River Bank
2 Loans
4Front Credit Union
1 Loan
Chase Bank
1 Loan
Comerica Bank
1 Loan
Community Choice Credit Union
1 Loan
Horizon Bank
1 Loan
Macatawa Bank
1 Loan
Mercantile Bank
1 Loan
Old National Bank
1 Loan
State Savings Bank
1 Loan
The Bancorp
1 Loan
Union Bank
1 Loan
West Michigan Community Bank
1 Loan
West Shore Bank
1 Loan
FY 2018 Total
Totals as of 06/30/2018
45 Loans
The Lenders Cup

All of the lenders listed above, along with any other bank or credit union that has a project authorized by EDF prior to September 1, 2018, will be eligible to compete in The Lenders Cup Golf Tournament! Last year was our inaugural event and the traveling trophy went home with Traverse City State Bank, which is now Independent Bank as of April 2, 2018 ! This year's event will take place on September 13, 2018 at Thornapple Pointe Golf Course . Each lending institution will have the opportunity to submit a foursome to compete.
In June, EDF funded the second SBA 504 loan for Leelanau Gear, LLC d/b/a Round Lake Outfitters located in Charlevoix, MI. Owned by Doug and Tonya Thomas, Round Lake Outfitters is Charlevoix County's premier store for camping, hiking, and other outdoor adventure supplies. The store provides everything you need to explore the great outdoors. Since 2017, Doug and Tonya had been leasing their existing location. After seeing great success they decided to purchase the location, and make Charlevoix a long term home.

Doug and Tonya decided on Charlevoix for their second location due to its similarities to Glen Arbor, MI, which is home to the first location they purchased in 2007, The Totem Shop. In 2015 they were also able to take advantage of the SBA 504 loan program with the purchase of this location as well.

EDF had the opportunity to partner with Al Zelinski, Vice President, Honor Bank on both transactions. The SBA 504 loan program gave Leelanau Gear, LLC the opportunity to purchase the existing facilities they occupied with a low down payment of 10%, and a 20 year fixed rate on 40% of the project costs.

To learn more about the benefits of the SBA 504 Loan Program, or how EDF can assist you, please visit our website at www.growmichigan.com, or contact one of our Loan Officers, Gary Witkowski or Bradd Pierce.
Call EDF for your 7(a) Packaging Needs

EDF   can assist your bank or credit union with 7(a) Loan eligibility and questions. We can also prepare loan applications and submit them directly to the SBA for approval. If you do not have an in-house SBA specialist, please consider using  EDF for your packaging needs.   For more information, please call Amy Dubridge at (616) 323-1279  or you may send an email to Amy@growmichigan.com .
Schedule a Lunch and Learn
EDF   would love the opportunity to bring lunch to your organization, get to know your entire team, and do a brief presentation on the benefits of the 504 Loan Program. We are currently scheduling into August and September. If you would like to set up a time, please call Kyle Wilson at (616) 323-1272  or you may send an email to  Kyle@growmichigan.com .
EDF Staff
Julie Parker
(616) 323-1276
Loan Officers 
Bradd Pierce
Senior Loan Officer
(616) 323-1277
Gary Witkowki
Loan Officer
(616) 323-1275
Credit Department 
Amy DuBridge
Junior Loan Officer
& 7(a) Specialist
(616) 323-1279
Matt Mankivsky
Junior Loan Officer
(616) 323-1278
Closing Department 
Abbey Byrne
Closing Manager
(616) 323-1274
Laura Seromik
Closing Specialist
(616) 323-1273
Servicing/Credit Department 
Kyle Wilson
Servicing Manager
(616) 323-1272
Nik Hoezee
Junior Loan Officer
(616) 459-4825
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