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Michigan Certified Development Corporation

Specializing in providing financing solutions for small businesses, this lender offers a range of SBA loan programs including the popular 7(a) and 504 options. They focus on supporting businesses across various industries by offering flexible loan terms and competitive rates. With a strong emphasis on community development, they also assist startups and existing businesses in securing the capital needed for growth and expansion. Their experienced team guides clients through the application process, ensuring a smooth experience from initial inquiry to loan closing. Located in East Lansing, MI, they serve a broad geographic area, helping entrepreneurs access vital funding to achieve their business goals. Whether you’re seeking working capital, real estate financing, or equipment loans, this lender provides tailored solutions to meet your needs. Their commitment to small business success is evident in their personalized service and comprehensive support throughout the lending process.

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Lender Type

Commercial Bank

Question 1

What is this place and what can I find here?

Answer 1

This is a community-focused lender offering SBA loan programs to help small businesses grow and succeed. You can find assistance with financing real estate, equipment, and working capital needs, along with expert guidance throughout the application process.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It"s recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins may be accommodated depending on availability. Contacting ahead is advisable for a smoother experience.

Question 3

What are the hours of operation?

Answer 3

The office operates from 9:00 AM to 5:00 PM, Monday through Friday. Appointments outside these hours can be arranged upon request.

Question 4

Is there a fee to use this?

Answer 4

There are no fees for initial consultations; however, standard SBA loan application and closing fees apply as per the loan agreement.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This lender primarily serves small businesses within the region, but they also support applicants from outside the area if criteria are met.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of 620 is generally required for guarantors applying for SBA loans.

Question 7

How long does the traditional underwriting process take from start to close?

Answer 7

The underwriting process typically takes between 30 to 45 days, depending on the complexity of the application and completeness of documentation.

Michigan Certified Development Corporation

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