Great Lakes Commercial Finance
Great Lakes Commercial Finance (GLCF) is a non-profit lender that provides access to capital for small businesses that are purchasing or refinancing commercial real estate, and/or machinery and equipment. We are licensed by the U.S. Small Business Administration (SBA) as a Certified Development Company (CDC) to offer the SBA 504 Loan Program throughout the entire state of Michigan.
GLCF is one of a small percentage of CDCs in the nation that SBA has approved into their Accredited Lender Program (ALP). As an ALP Lender, GLCF has increased authority to process, close, and service 504 loans, and our customers receive expedited processing of loan approvals and servicing actions.
Since the 504 Loan Program can only be utilized by a small business through a CDC such as GLCF, banks and credit unions must partner with us in order to offer it to their customers. Some of the benefits of using the program include:
As little as a 10% down payment vs. 20% if done conventionally
10, 20, and 25 years terms
Low interest rates – locked in for the term of the loan