Monthly Interest Rates
and Other 504  News
January 2017
January 2017
Interest Rates
20 Year Standard
20 Year Refinance
 10 Year Standard
 10 Year Refinance
Just a reminder that EDF  packages 7(a) Loans.  If you would like more information on this service, please contact Kecia Banks at
or  (616) 323-1279.
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 lending institution with the most loan approvals will receive our Lender of the Year Award.  Individual Lender Awards will also be recognized at that time.  Monthly, EDF will start posting this information so you can see where your bank ranks!

Traverse City State Bank 7 Loans
Huntington Bank 3 Loans
Chemical Bank 1 Loan
Grand River Bank 1 Loan
Honor Bank 1 Loan
Macatawa Bank 1 Loan
West Michigan Community Bank 1 Loan

Want to see your lending institution'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.  Contact Bradd at (616) 323-1277 or   Gary can be reached at (616) 323-1275 or .

Want to schedule a Lunch and Learn at your location to learn more about the 504 Loan Programs?  Please contact Kyle at (616) 323-1272 or to schedule.
Happy New Year
From the Staff at EDF!

This past year has been full of positive change at EDF  and we look forward to seeing what 2017 has in store for our organization.  We truly value all of our lenders and resource partners that have contributed to our success, and we look forward to serving you in the years to come.

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

Featured Funding!
Premiere Property Services, Inc.

EDF has partnered with JP Morgan Chase Bank to assist Premiere Property Services, Inc. with the purchase of land and the construction of their new facility.  In 2001, Scott Kelting formed Premiere Property Services, Inc. They specialize in mobile, manufactured, and single-family home restoration and remodeling projects. The company's largest growth happened in the past few years as they contracted with companies that own multiple mobile and manufactured home parks making Premier Property Services, Inc. their primary repair and refurbishment vendor.  

"We have been dreaming of expanding for years, and 
without  the help of the EDF and the 504 Program it would not
have been possible. The 504 program made it a reality
to secure affordable financing which in turn helped us 
put  more money back into our business."

Scott Kelting

Bradd Pierce at EDF worked with Scott's lender, Nathan Bosma of JP Morgan Chase Bank, to finance the construction of their building in Grand Rapids. The SBA loan was the perfect opportunity for them to obtain additional space that was needed due to their growth and it allowed them to lock in a low interest rate for 20 years with only a 10% down payment.  Scott Kelting said, "We have been dreaming of expanding for years, and without the help of the EDF and the 504 program it would not have been possible. The 504 program made it a reality to secure affordable financing which in turn helped us put more money back into our business."

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.

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