|
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!
| 
