Turning the Tables: How SBA Loans Level the Playing Field
Shannon Gordon, 504 SBA Loan Officer and Steven Pricco, Director of 7(a) Lending (SBA) from the Michigan Certified Development Corporation will discuss exactly how SBA Loans can benefit your company.
In this session you will learn:
- WHAT IS A SBA 504 LOAN - Gain a comprehensive understanding of the SBA 504 Loan and learn what sets it apart from traditional lending.
- HOW TO USE THE SBA 504 PROGRAM - Discover how the SBA 504 Program is structured, including the key players such as the MCDC, third-party lenders, and the SBA itself. Learn how these entities collaborate to provide low-interest, long-term financing to businesses looking to expand.
- BENEFITS & ELIGIBILITY – We’ll explore the unique benefits of the SBA 504 Loan and cover the eligibility criteria so you know exactly what it takes to qualify and how your business can take advantage of this opportunity.
- APPLYING FOR A 504 LOAN - Prepare for the application process by understanding key factors such as loan terms, business financials, and the timing of your application.
- COMMUNITY ADVANTAGE BENEFITS & ELIGIBILITY - Learn about the SBA’s Community Advantage Program, designed specifically to meet the needs of underserved communities.
About the presenters:
Shannon Gordon, Loan Officer
Shannon markets the SBA 504 Loan Program throughout Macomb County, NE Oakland County, and the Thumb area. He works with lenders, small business owners, and other referral sources to secure SBA 504 financing. Shannon works with the MCDC underwriters to review the eligibility and obtain the SBA approval.
Prior to joining the MCDC, Shannon spent several years working in the commercial and residential lending arena in Southeastern Michigan as small business banker, underwriter, and account executive positions at large regional banks and credit unions. Shannon earned his Bachelor’s Degree in Business Administration with a major in Finance from Davenport University.
Steven Pricco, Director of 7(a) Lending (SBA)Steve Pricco joined the MCDC as Director of SBA 7(a) Lending in August of 2017. For over 20 years Steve has worked with the SBA 7(a) Program and was twice awarded Michigan’s PLP Lender of the Year. Over the last 12 years, Steve has served as a SBA 7(a) Lender Service Provider (LSP) for banks nationwide, where he and his team work with approving, closing, 1502 reporting, selling, servicing, and liquidating the SBA 7(a) loans. Steve also works with the USDA Business and Industry loan guaranty program where he was awarded top Michigan Lender of the Year four times during his career.
Steve earned a Bachelor
of Science degree in Business Administration with a minor in Finance from
Michigan State University.
