Monthly Interest Rates
and Other 504  News
April 2017
April 2017
Interest Rates
20 Year Standard
20 Year Refinance
 10 Year Standard
 10 Year Refinance
Lunch and Learns

Would you like your team to learn more about the 504 Loan Program?  EDF will bring lunch to your location and do a short presentation! To schedule a time, please contact Kyle at (616) 323-1272 or
SBA 504 Payment Calculator

Use this simple tool located on our website to explore SBA 504 financing options for your customers.  Simply fill in the requested information and voila!  Give it a try by clicking below!

Featured Funding!
Traverse City Golf Center

EDF  has joined forces with Traverse City State Bank to fund a SBA 504 loan!  Toby Boynton-Fisher is the sole owner of Traverse City Golf Center.  The 504 program allowed Toby to pursue his dream of owning an indoor/outdoor golf facility.

Boynton-Fisher has been an employee of Traverse City Golf Center, LLC for years and always had an interest in purchasing the business.  Traverse City Golf Center is a full-service, four season golf shop and practice range with indoor and outdoor practice facilities.  They have the largest selection of top line clubs, bags, shoes, gloves and golf balls in Northern Michigan.  The pro-shop has been recognized by the PGA of America as "The Public Golf Shop Merchandiser of the Year" for three years.  Traverse City Golf Center also offers year round custom club fitting with PGA Professionals, Vector and ES14 launch monitor swing analysis, indoor golf simulators, private and group golf lessons, Golf Academy instruction and award winning service.

"T he 504 Loan program helped me to realize my dream to own Traverse City Golf Center."

 - Toby Boynton-Fisher
Traverse City Golf Center

Bradd Pierce of EDF  worked with Toby's lender, Jeff Rademacher from Traverse City State Bank to finance the purchase of the real estate.  Once again, the 504 Program has helped a dream come a reality, Mr. Boynton-Fisher said, "the program helped me to realize my dream to own the Traverse City Golf Center."  The SBA 504 program allowed Toby to purchase the property at a low fixed interest rate for 20 years with only 15% equity into the project.  

To learn more about the benefits of the 504 Loan or how  EDF  can assist you or your clients, please visit our website at    or call our office at (616) 459-4825 .

Traverse City Golf Center -  6270 Sector Road, Traverse City, MI
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. Monthly,  EDF  will start posting this information so you can see where your bank ranks!

Traverse City State Bank
8 Loans
Huntington Bank
4 Loans
Grand River Bank 3 Loans
Chemical Bank
2 Loans
Macatawa Bank
2 Loans
Chase Bank
1 Loan
First Community Bank
1 Loan
First National Bank of MI
1 Loan
Honor State Bank
1 Loan
West MI Community
1 Loan
*Totals are as of 3/31/17

Do you want to see your 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.   Bradd can be reached at  (616) 323-1277 or  and  Gary can be reached at (616) 323-1275 or .
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 may have about the program.

Pictured from Left to Right

Kecia Banks
Credit Manager
(616) 323-1279
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

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