January 2026

New For FY 2026:

🏭 Manufacturing Rates (NAICS 31–33):

📌 25-year: 5.62%

📌 20-year: 5.66%

📌 10-year: 5.37%


SBA has waived both the upfront guaranty fee and the ongoing guaranty fee for manufacturers (NAICS 31–33).

The purpose of GLCF's Manufacturing Rate is to demonstrate how waiving the ongoing guaranty fee impacts the overall SBA 504 effective rate.

Additionally, GLCF is upping the ante by covering 50% of the third-party lender fee (up to $5,000) for manufacturing projects approved through September 30, 2026, thereby providing our Manufacturers in Michigan, as well as those in Indiana and Ohio border counties, with even more benefits. You can read more about it below, or click here to learn more: https://buff.ly/qgucMEu.

The House just passed two bills that could significantly benefit the SBA 504 program.

One would eliminate the additional 5% equity requirement for special-purpose properties, improving access to financing. The other would require SBA to formally report on portfolio risk, reinforcing what lenders already know: The 504 program is strong and well-managed!

Thanks to continued advocacy from our national association, NADCO, these efforts are gaining traction in Washington. We're sharing this update so our partners have the latest information before these bills move to the Senate. GLCF will send updates as we get more information.

Read the full update and what it could mean for your next deal: https://buff.ly/JpcmTei

GLCF Welcomes Olivia Sebright

Olivia recently joined the GLCF team as Executive Assistant and Marketing Coordinator. She brings strong organizational skills, a creative marketing mindset, and a keen ability to manage multiple priorities effectively to the role. Olivia is a graduate of Aquinas College, where she earned a dual major in Business Administration and Communications.

Along with directly supporting our President & CEO, Julie Parker, Olivia will help coordinate marketing initiatives and events and manage social media content, the GLCF website, and other brand and communications efforts.

“We’re thrilled to have Olivia on board. She’s brought fresh ideas and a great attitude from day one, and we’re already seeing the impact. I’m excited to have her as part of the GLCF team,” said Julie Parker.

We look forward to all that Olivia will accomplish, and we are excited to have her contributing to our continued success.

GLCF's FY 2025 Incentive Program a Huge Success

Over $110,000 Invested Into Our Lending Partners to Support Small Businesses!

Read All About It - Along With What We are Doing This Fiscal Year!

FY 2025 Incentive Program Results:

At Great Lakes Commercial Finance, partnerships drive everything we do. When we launched our FY 2025 Economic Development Incentive Program, our goal was to highlight the 504 program and provide an incentive to our lending partners. This incentive allowed them to waive fees, cover professional costs, or apply the funds toward other loan-related expenses that directly benefit borrowers, ultimately helping them win more deals.

The program was a huge success! Since its launch in December 2024, we have authorized 51 projects and committed over $110,000. Funds are dispersed once the loans fund, giving lenders the flexibility to use the incentives in ways that best support their borrowers and expand access to financing across Michigan, Indiana, and Ohio.

FY 2026 Incentive Program:

Building on that momentum, we are excited to launch our FY 2026 Economic Development Incentive Program. GLCF’s program is modeled after the SBA’s September 18, 2025, guidance and Information Notice 5000-871532, which waives 504 program fees for manufacturers with NAICS codes beginning with 31, 32, or 33 that have applications approved in Fiscal Year 2026.

In addition to this SBA fee waiver, GLCF will further support qualifying manufacturers by covering 50% of the third-party lender fee, up to $5,000, through our new incentive initiative. This is part of our ongoing commitment to promoting economic growth and supporting Michigan’s manufacturing community. 

Example of Combined Savings – $2,000,000 Total Project

Through the FY 2026 Manufacturer Incentive Program, a typical $2,000,000 project can generate $6,500 in upfront fee savings when combining GLCF’s lender fee incentive with the SBA guarantee fee waiver.

On top of that, the SBA waiver on the ongoing fee lowers the fully effective interest rate from 6.01% to 5.85%, providing manufacturers with additional long-term savings and freeing up capital to reinvest in their operations.

Example of Combined Savings – $4,000,000 Total Project

For a $4,000,000 project, the FY 2026 Manufacturer Incentive Program can provide $13,000 in upfront fee savings when combining GLCF’s lender fee incentive (capped at $5,000) with the SBA guarantee fee waiver.

Additionally, the SBA waiver on the ongoing fee lowers the fully effective interest rate from 6.01% to 5.85%, giving manufacturers significant long-term savings and freeing up capital to reinvest in their operations.

CLICK HERE to learn more about our FY 2026 Incentive Program and how your borrowers can benefit!

GLCF Lenders Cup

Tournament & Golf Outing



September 19, 2026

Thornapple Pointe Golf Club

Join us for a day full of golf, drinks, lunch, an after-round gathering, prizes, and more!

Participation in the Lenders Cup is limited to lending institutions with at least one loan approved between now and September 16 - connect with one of our loan officers today!

For more information, click Here

Schedule a Time to Learn More About

the Benefits of the SBA 504 Loan Program

Kick off 2026 by learning more about the SBA 504 Loan Program. If you or your team would like to better understand the program and how it supports both small businesses and lending partners, please schedule a meeting with one of our loan officers. Presentations can be tailored to your group size and time constraints.

Lender Leader Board

We want to thank all the lenders that have had loans authorized through GLCF by the SBA in FY 2026. At the end of our current fiscal year (09/30/2026), the lending institution with the most loan approvals will receive GLCF's Lender of the Year Award!