August 2025

The SBA just announced FY 2026 Fees, and it is also offering fee waivers to support U.S. manufacturers in FY 2026. Discover how these changes can help reduce borrowing costs and drive growth. Read all about it in our blog post: Click Here.

The Benefits of the 504 Loan Program

for Your Business

If you’re a lender or a small business owner, you’ve likely heard of the SBA 504 loan program. Great Lakes Commercial Finance (GLCF) is an accredited lender authorized by the U.S. Small Business Administration (SBA) to administer the 504 loan program. We partner with banks and credit unions across the State, offering a unique 50/40/10 loan structure designed to benefit small businesses. GLCF is here to help you determine if the 504 loan is right for your business or customer.

WHY should you consider the SBA 504 loan program through GLCF?

Because of the unique 50/40/10 structure, SBA 504 borrowers can:

• Finance up to 90% of their total project costs, which helps preserve working capital. Additionally, this improves cash flow with the 504’s 10, 20, or 25-year terms. 
• Terms are longer than conventional financing options, allowing borrowers to spread out their payments and increase their cash flow for day-to-day operations. 
• Unlike conventional loan programs, interest rates, which are typically below market, remain fixed throughout the loan term, saving borrowers thousands of dollars.
• The program also allows borrowers to finance their fees, resulting in minimal out-of-pocket costs. 
• The 504 loan will allow real estate and equipment to be financed together, taking advantage of the longer loan terms.

WHAT can the 504 loan help me finance?

The 504 loan can help for-profit companies finance fixed assets, including:

• Real estate acquisition, construction, renovation, or expansion (including the purchase of land)
• Eligible Soft Costs (appraisal, environmental, and other professional fees)
• Land and site improvements
• Purchase and installation of new equipment or machinery
• Refinance of commercial real estate, eligible fixed assets, and allows for “cash out” for operating expenses

WHO should you contact?

GLCF partners with banks and credit unions throughout Michigan to provide small businesses with 504 loans. If you contact your commercial lender first, please let them know that you are interested in the 504 loan program. You can also contact our office directly at (616) 459-4825, and we can assist you in finding a lender if you don’t currently have one.

WHEN should I reach out?

The earlier we are involved, the better. This ensures all parties are on the same page from the beginning, making it easier to confirm project eligibility and keep things moving smoothly. Starting aligned helps the entire process run as efficiently as possible.

To learn more about the SBA 504 program, please don't hesitate to contact one of our loan officers listed below or our office at (616) 459-4825. Alternatively, you can visit our website at glcf.org.

Which Loan Officer is in YOUR Territory?

Lender Leaderboard

We would like to express our gratitude to all lenders who have had loans authorized through GLCF by the SBA in FY 2025. At the end of our current fiscal year (09/30/2025), the lending institution with the most loan approvals will receive GLCF's Lender of the Year Award!

Two Exciting Changes Coming to the GLCF Lenders Cup - There is Still Time to Compete!

The GLCF Lenders Cup is almost here, and this year brings two exciting changes to the competition.

First, teams now earn mulligans for every 504 loan approved through GLCF since last year’s outing up until the day before this year’s tournament on September 18th. That means the more projects you’ve had approved, the more chances your team has to gain an edge on the course.

Second, participants aged 65 and older will enjoy a new advantage. Seniors get to tee off from the gold tees, which gives them a 700-yard head start over the white tees.

If your lending institution has had a project approved this year and you have not signed up yet, there is still time. Spots are filling quickly. Call us today at (616) 459-4825 to secure your place in the competition.

With prizes, giveaways, and the GLCF traveling trophy on the line, you do not want to miss out.

There’s still time to qualify, so secure your spot today!

For more event details, please click HERE!

Sponsor GLCF's 17th Annual Golf Outing This September

LIMITED SPOTS LEFT!

Only 2 Sponsorships Left for Our Biggest Event of the Year!

GLCF's annual golf outing welcomes over 100 lenders to Thornapple Pointe Golf Course for a day filled with golf, prizes, and complimentary food and drinks! By sponsoring this event, your organization will gain valuable exposure to all attendees, increasing awareness of your brand.

As a sponsor, you will receive:

• Brand Visibility
• One-on-One Networking Opportunities
• Social Media and Website Promotion
• Community Engagement

We’re excited to share that nearly all sponsorships have sold out, and only 2 hole sponsorships remain. With 14 sponsors already confirmed, this is your last chance to showcase your company at our biggest event of the year.

You can view all the available sponsorship opportunities here.