EDF Newsletter - January 2019 - Interest Rates, Government Shutdown Update, and Other News!

January 2019

January 2019 Interest Rates

4.88%

25 Year Rate

4.76%

20 Year Rate

5.06%

10 Year Rate

The declining SBA 504 rates are great news for small businesses that are planning to construct or acquire a new building, refinance commercial debt or purchase capital equipment. Call us today for a cost estimate!

Government Shutdown

The government may be shut down, but EDF is still here working diligently on new applications. Our goal is to get new projects complete and ready to send to the SBA the minute the government re-opens. If you have a new project, please call our office at (616) 459-4825 or you may email Bradd Pierce at Bradd@growmichigan.com or Nik Hoezee at Nik@growmichigan.com.

EDF Holiday Giveaway Winner!

And the winner of the Amazon Echo Spot is.... Lindsay Spitler, Vice President and SBA Business Development Officer for Bank of America Merrill Lynch.

Lindsay is a great supporter of EDF and the SBA 504 loan program. Congratulations to Lindsay and thank you to all those that entered our EDF Holiday Giveaway!

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 current fiscal year (09/30/19), the lending institution with the most loan approvals will receive EDF's Lender of the Year Award.

Chemical Bank

1 Loan

Fifth Third Bank

1 Loan

Grand River Bank

1 Loan

Independent Bank

1 Loan

Lake Michigan Credit Union

1 Loan

Macatawa Bank

1 Loan

Team One Credit Union

1 Loan

United Bank of Michigan

1 Loan

West Michigan Community Bank

1 Loan

FY 2019 Total

Totals as of 12/31/18

9 Loans

The Lenders Cup

All of the lenders listed above, along with any other bank or credit union that has a project authorized by EDF prior to September 1, 2019, will be eligible to compete in The Lenders Cup Golf Tournament! Last year's traveling trophy went home with West Michigan Community Bank. This year's event will take place on September 12, 2019 at Thornapple Pointe Golf Course . Each lending institution will have the opportunity to submit a foursome to compete.

March Madness Events - 2019

March Madness is just around the corner and we would love to see you at one of our mixers! It is a great time to network with our staff and other lenders. This year, in addition to our Grandville and Kalamazoo events, we will also be hosting an event in Traverse City.

Lunch and drinks will be provided at each event. Details are below along with links to register!

Kalamazoo

Thursday, March 21st

12:00 - 4:00 PM

Latitude 42

6101 W. Main Street

Kalamazoo, MI 49009

Click Here to Register!

Traverse City

Thursday, March 21st

12:00 - 4:00 PM

Pangea's Pizza

135 E. Front Street

Traverse City, MI 49684

Click Here to Register!

Grandville

Friday, March 22nd

12:00 - 4:00 PM

Uccello's

3940 Rivertown Parkway

Grandville, MI 49418

Click Here to Register!

d mo

If you are unable to make one of the events, you can still participate by filling out a bracket. There is no cost to participate and the winner or winners will receive a $100 Amazon Gift Card!

On Monday, March 18th the brackets will be sent out via email. Simply fill it out and return it prior to the start of the tournament and you will be entered to win! Weekly updates will be sent out throughout the tournament!

Click Here to Register!

Call EDF for your 7(a) Packaging Needs

EDF can assist your bank or credit union with 7(a) Loan eligibility and questions. We can also prepare loan applications and submit them directly to the SBA for approval. If you do not have an in-house SBA specialist, please consider using EDF for your packaging needs. For more information, please contact Amy Dubridge at (616) 323-1279 or Amy@growmichigan.com or Nik Hoezee at (616) 323-1271 , or Nik@growmichigan.com.

Schedule a Lunch and Learn

EDF would love the opportunity to bring lunch to your organization, get to know your entire team, and do a brief presentation on the benefits of the 504 Loan Program. We are currently scheduling into February and March. If you would like to set up a time, please call Kyle Wilson at (616) 323-1272 or you may send an email to Kyle@growmichigan.com .