May 2019
May 2019 Interest Rates
25 Year Rate
20 Year Rate
10 Year Rate *

**These rates are for projects authorized in the current government fiscal year which started on 10/1/2018.
Featured Borrowers
Molon Excavating, Inc. and Molon Asphalt, Inc.
This May, EDF funded a SBA 504 loan for Molon Asphalt, Inc. Owners, Scott Porter and Mark Steckley, formed Molon Asphalt to purchase an existing asphalt company in Interlochen, MI. Scott and Mark partnered with Independent Bank and EDF to finance the purchase of the existing equipment through a SBA 504 loan. Independent Bank provided additional financing for the rest of the business purchase. The seller was also a customer of EDF and had originally financed the acquisition of the asphalt plant through an SBA 504 loan. The seller did most of the paving work for Molon Excavating, another local business owned by Mark and Scott. 

Since Scott and Mark bring significant industry experience to the deal through their other business ventures, this project qualified for a 50/40/10 structure and allowed the company to obtain a 10-year fixed rate on the SBA loan. This is the second project that Scott and Mark partnered with EDF on in 2019. In March, EDF funded a SBA 504 loan for Molon Excavating, Inc. for the purchase of the company’s operating facility from the previous owners. At EDF, we pride ourselves on streamlining the process for our small business customers and we believe repeat borrowers are a testament to this commitment. Thank you, Scott, Mark, and Independent Bank, for once again partnering with EDF!

To learn more about the benefits of the SBA 504 Loan Program, or how EDF can assist you, please visit our website at   or contact one of our Loan Officers, Bradd Pierce at 616-323-1277 or   or Nik Hoezee at 616-323-1271 or .

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.
Independent Bank
4 Loans
Choice One
3 Loans
Grand River Bank
2 Loans
Chase Bank
1 Loan
Chemical Bank
1 Loan
Comerica Bank
1 Loan
Fifth Third Bank
1 Loan
Huntington Bank
1 Loan
Lake Michigan Credit Union
1 Loan
Macatawa Bank
1 Loan
Mercantile Bank
1 Loan
1 Loan
Old National Bank
1 Loan
Sturgis Bank and Trust
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 05
23 Loans
EDF Staff
Julie Parker
(616) 323-1276
Bradd Pierce
Senior Loan Officer
(616) 323-1277
Gary Witkowki
Vice President of Loan Operations
(616) 323-1275
Amy Dubridge
Loan Officer
& 7(a) Loan Specialist
(616) 323-1279
Nik Hoezee
Loan Officer
(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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