December 2019
December 2019 Interest Rates
25 Year Rates

3.64% - Standard
3.70% Refinance
20 Year Rates

3.58% - Standard
3.64% - Refinance
10 Year Rates

3.93% - Standard
3.97% Refinance

*10-year debentures are funded every other month; therefore, the November 2019 10-year rates are quoted above.

As the holiday season is upon us, we find ourselves reflecting on the past year and those who have helped make our business a success. It has been a great year and we hope 2019 has been just as memorable for you, your colleagues and your loved ones. We look forward to working with you in the years to come.

Your Friends at  EDF !
Please note that our office will be closed December 24th and 25th and December 31st and January 1st!
EDF Holiday Giveaway
In the spirit of this Holiday season,  EDF   will be giving away a $100 Amazon Gift Card   to one lucky winner! The only thing you need to do is click here!

EDF   will be picking a winner from all entries on  Friday, December 27th   .

Good luck!
EDF's main office has moved from downtown Grand Rapids to downtown Grandville! If you are in the area, please stop by and see us! If you are interested in contacting us about a loan, please call one of our loan officers!
West Michigan Market

Bradd Pierce
(616) 323-1277
East Michigan Market

Tom Bell
(810) 599-4074
Northern Michigan and Lansing Market

Kelly Schramski
(734) 751-6933
Featured Funding
Aurora Cellars

Sam and Taylor Simpson’s parents have been farming cherries and wine grapes since before either one of them can remember. Started in the 1950s, the Simpson family farm has become quite the legacy. It has expanded into its own winery – Good Harbors Winery – in the 1980s and has been thriving ever since. It wasn’t until their father passed away that Sam and Taylor became directly involved in the family business. Upon Mr. Simpson’s passing, the sibling duo quit their corporate jobs, moved back to the Leelanau Peninsula in Northern Michigan, and began taking over the operation with one vision in mind: to see the 65+ year old family legacy live on. What they didn’t realize, however, is that they would end up growing the family farm into a destination for travelers and wine lovers throughout the region. And thus, the story of Aurora Cellars began…

It all started in 2013 when the opportunity to purchase the property, now known as Aurora Cellars, presented itself. With the existing vineyard and farm business busting at the seams, the Simpson siblings knew that this purchase was the next necessary step towards growing the business. Because this would be a large transaction, Sam and his sister had no idea where to start.

Sam and Taylor reached out to Huntington Bank, a bank that the Simpson family has a long history of working with, who advised the siblings to use the SBA 504 loan program through the Economic Development Foundation . Doug Morgenstern, VP of Huntington Bank, recommended this program because it would lower potential risks for the bank, making the purchase more achievable. Through the SBA 504 loan program, Sam and Taylor were able to purchase Aurora Cellars at a fixed, below-market interest rate with a lower down payment and longer loan terms, allowing them to continue to grow the business through the process. 

“We have a really good track record of being able to operate these facilities, but banks are still worried about the risks of our industry. The SBA was able to provide that security so there was basically no risk at all…I don’t think we would have been able to get this deal done without them.”

Since the expansion, Aurora Cellars has been able to produce more wine in-house for other facilities and wineries throughout the region, expanding their capacity throughout the Michigan wine industry and increasing their overall brand. In addition, they have also hosted a variety of charity events to raise money for different causes throughout the community. We’ve created a destination in the heart of Leelanau county where people come to enjoy the property, have special events such as weddings or conferences, or simply relax,” Sam shared.

To visit Aurora Cellars, try some of their wine, or reserve the space for an event, visit their website at .  
Lender Leader Board
FY 2020

EDF would like to thank all of the lenders that have had loans authorized with us in FY 2020. At the end of our current fiscal year (09/30/20), the lending institution with the most loan approvals will receive  EDF's Lender of the Year Award.
EDF Staff
Julie Parker
(616) 323-1273
Gary Witkowski
VP of Loan Operations
(616) 323-1275
Bradd Pierce
Senior Loan Officer
West Michigan Market
(616) 323-1277

Kelly Schramski
Loan Officer
Northern Michigan and Lansing Market
(734) 751-6933

Tom Bell
Loan Officer
East Michigan Market
(810) 599-4074

Amy DuBridge
Loan Officer & 7(a) Loan Specialist
(616) 323-1279
Daniel Reyes
(616) 323-1271
Abbey Byrne
Closing Manager
(616) 323-1274
Laura Seromik
Servicing and Compliance Manager
(616) 323-1273
Kyle Wilson
Closing and Servicing Specialist
(616) 323-1272
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