Michigan Business Beat | Mark Williams - What’s New with Michigan Certified Development Corporation

Originally uploaded July 1st, video glitch fixed and replaced February 5th. Chris Holman welcomes back Mark A. Williams, President, MCDC, Michigan Certified Development Corporation, East Lansing, MI. In their conversation, Chris had several things he wanted to find out from Mark; What’s new with MCDC? Mark reviewed their new loan product, Community Advantage, and discussed what it is, why/how it differs from a bank or credit union SBA 7(a) loan. On 504 loans (Mark gave a brief description of the difference between 504 and 7(a)) we also have an Express product which he describes the advantages They touch on some history for MCDC, as they were about to achieve some milestones in loan volume (within the next year)? 2,500 loans, $1.5Bn in SBA loans, $4Bn in total economic impact What industries we are seeing the most activity in? Hotels, franchise restaurants, manufacturing As 504 loans require a bank or credit union, who are MCDC partnering with most? Mark hesitates to single anyone out, but they are seeing an increase in activity from the community banks and credit unions General questions on SBA programs and lending volume in general. » Visit MBN website: www.michiganbusinessnetwork.com/ » Subscribe to MBN’s YouTube: www.youtube.com/@MichiganbusinessnetworkMBN » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: twitter.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/