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Loans Last Year
58
Volume Last Year
$61.46M
Average Deal Size
$2.63M
About
Founded in 1980 in Grand Rapids and rebranded to Great Lakes Commercial Finance (GLCF) in 2021, is one of just three Certified Development Companies serving the state of Michigan. GLCF holds the SBA's Accredited Lender Program (ALP) designation, giving it increased authority to process, close, and service SBA 504 loans more efficiently than non-ALP CDCs. The organization was named Michigan's SBA CDC Lender of the Year for FY 2022 after approving 73 loans totaling more than $170 million in total project cost. In addition to SBA 504, GLCF packages SBA 7(a) loans for partner banks and credit unions, and offers a VetLoan Advantage program for veteran-owned businesses. The current GLCF organization is the product of a 2017 merger between the former Economic Development Foundation and Lakeshore 504, both of which had been operating in different regions of Michigan.
Top Industries Served
| Industry | # of Loans | $ Volume |
|---|---|---|
| Full-Service Restaurants | 6 | $8.4M |
| Landscaping | 3 | $1.4M |
| Fitness Centers | 2 | $8.8M |
| Golf Courses | 2 | $3.3M |
| Drycleaning | 2 | $2.5M |
States Served
IN
MI
Lending across 2 states.
Top Cities (previous yr # of loans)
| # | City | Loans |
|---|---|---|
| 1 | Grand Rapids | 8 |
| 2 | Traverse City | 3 |
| 3 | Waterford | 2 |
| 4 | Auburn Hills | 2 |
| 5 | Walker | 2 |
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