Monthly Interest Rates
and Other 504  News
September 2017
September 2017
Interest Rates
20 Year Standard
20 Year Refinance
 10 Year Standard
 10 Year Refinance
7(a) Packaging
EDF  can assist your organization with 7(a) Loan questions and eligibility, and then prepare loan packages and submit them directly to the SBA for approval. For more information,
please call  EDF's  7(a) Specialist, Amy Dubridge at (616) 323-1279 or you may send an email to
EDF's 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 fiscal year (9/30/17), the lender and lending institution with the most loan approvals will receive our Lender of the Year Award. 

Do you want to see your organization's name on this list?  We do too!  If you have a project that you would like to discuss, please call either  Bradd Pierce   or  Gary Witkowski .  

Lender Name
Number of Loans

Traverse City State Bank
18 Loans
Huntington Bank
7 Loans
Grand River Bank
5 Loans
Chemical Bank
4 Loans
First Community Bank
4 Loans
Macatawa Bank
3 Loans
Choice One Bank
2 Loans
My Personal Credit Union
2 Loans
West Michigan Community Bank
2 Loans
Chase Bank
1 Loan
Comerica Bank
1 Loan
First National Bank of MI
1 Loan
Honor State Bank
1 Loan
Independent Bank
1 Loan
Key Bank
1 Loan
Lake Michigan Credit Union
1 Loan
Mercantile Bank of Michigan
1 Loan
Old National Bank
1 Loan

*Totals are as of  8/30/17

56 Loans

EDF's Inaugural 2017
Lenders Cup Golf

And the Winner Is.......
Traverse City State Bank!

On September 14, 2017 EDF hosted it's Tenth Annual Golf Outing featuring our inaugural Lenders Cup Tournament!  The Lenders Cup is a competition among the lending institutions that had loans authorized with EDF over the past fiscal year.  The following banks competed:

Chase Bank, Chemical Bank, ChoiceOne Bank, Comerica Bank, Grand River Bank, Huntington Bank, Independent Bank, Lake Michigan Credit Union, Macatawa Bank, Traverse City State Bank and 
West Michigan Community Bank

Traverse City State Bank was this year's winning foursome shooting 13 under par.

Traverse City State Bank
Patrick Burds, Daniel Stoudt, Adam Rhodes and Jeff Rademacher

Chase Bank
Josh Geoghan, Kirstyn Monroe, Pamela Schuitema 
and Gary Beyer
Chemical Bank
David Kiekintveld, David Haagsma, Bill Bruinsma 
and Mike Keast

Rob Robbins, Brad Henion, Josh Hucul
and Jason Parker
Comerica Bank
Brad Walendzik, Doug Adams, Derek Aten, 
and Michael Van Diepenbos

Grand River Bank
Steve Grey, Ryan Wolthuis, Brent Kehrwecker
and Matt Vermeer

Huntington Bank
Mike Moraw, John Burmeister, Andy Jackson, 
and Scott Wagasky

Independent Bank
Cecil MacLaren, Mark Hofmeyer, Steve Potter,
and Rob Bengel

Lake Michigan Credit Union 
Ryan Naumes, Peter Rahrig, Jim Kossel
and Jack Keller

Macatawa Bank,
Alex Merz, Todd Mulder, Kurt Hanko 
and Eric Brower

 West Michigan Community Bank
Ryan Sabin, Jim Bishop, Andrew Rugg
and Mike Eling

We would also like to thank the following sponsors
for supporting our event!


Featured Funding!
Edmondson Engineering, Inc.

Gary Witkowski of EDF partnered with Patrick Burds of Traverse City State Bank and Jim Edmondson, owner of Edmondson Engineering, Inc, to finance a SBA 504 loan project for the purchase of a new building.   Jim was previously renting a facility; however, wanted to own his own building that would allow him to accommodate future growth.

Edmondson Engineering, Inc. dba Trison Engineering Group, Inc. is a professional consulting firm providing a full range of quality structural engineering services. The company operates in the 5-county area of Northern Michigan surrounding Traverse City.   They have the capabilities to design and analyze structural assemblies ranging in size and complexity from small commercial alterations, individual equipment supports to multi-story buildings. 

The SBA 504 program allowed Jim to realize his dreams of owning his own building at a low fixed interest rate for 20 years with only 10% equity.

To learn more about the benefits of the SBA 504 Loan Program, or how EDF can assist you, please visit our website at, or call one of our Loan Officers Gary Witkowski or  Bradd Pierce.
Staff Directory

The EDF team consists of eight professionals with many years of SBA 504 experience combined, so please put our expertise to use and call us with any questions you have about the program.  

Julie Parker
(616) 323-1276
Gary Witkowski
Loan Officer
(616) 323-1275
Bradd Pierce
Senior Loan Officer
(616) 323-1277
Matt Mankivsky
Junior Loan Officer
(616) 323-1278
Kyle Wilson
Servicing Manager
(616) 323-1272
Abbey Byrne
Closing Manager
(616) 323-1274
Laura Seromik
Closing Specialist
(616) 323-1273
Amy Dubridge  Junior Loan Officer & 7(a) Specialist
(616) 323-1279

Economic Development Foundation
1345 Monroe Ave NW
Suite 132
Grand Rapids, MI 49505