ChoiceOne Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS) (“ChoiceOne”) are once again honored to receive the Community Bank Lender of the Year Award from the Michigan Certified Development Corporation (MCDC). ChoiceOne Vice President, SBA Lending Officer Aaron Griffin accepted the award on behalf of the Bank.
“We are honored to receive the MCDC Community Bank Lender of the Year Award,” said ChoiceOne Executive Vice President, Chief Lending Officer Bradley Henion. “This is an outstanding achievement and recognition of our ChoiceOne team. As the local community bank, ChoiceOne has a longstanding commitment to building personal relationships with the entrepreneurs and small business owners in our communities. Promoting business expansion and strong economic growth in Michigan are at the forefront of our business partnerships including our relationship with MCDC. Our ability to offer the SBA 504 Loan Program has allowed many of our small business customers to finance their commercial loans over the years with more competitive interest rates, longer terms, and smaller down payments.”
ChoiceOne Vice President, SBA Lending Officer - Aaron Griffin, accepting the Community Bank Lender of the Year Award from the Michigan Certified Development Corporation (MCDC)
Unlike conventional term loans, an SBA 504 Loan is a government-backed term loan. An SBA Loan offers business owners the opportunity to take advantage of favorable terms as part of the SBA program, while removing some of the barriers to traditional financing options. The SBA 504 primarily assists healthy, expanding businesses that have been in operation for more than two years. In certain instances, the SBA 504 may be used to finance start-up businesses.
"ChoiceOne Bank has exemplified excellence as our top lending partner, earning the well-deserved title of Community Bank Lender of the Year,” said MCDC Vice President of SBA 504 Lending Eric Kehler. “Their outstanding performance in the SBA 504 Loan Program showcases a profound commitment to innovation and client service. Throughout 2024, ChoiceOne consistently delivered tailored lending solutions, demonstrating an acute understanding of borrowers' needs and making a tangible impact on our communities. Their responsiveness and meticulous approach have not only bolstered our partnership but have also set a new industry standard for lending excellence. In a year of dynamic market conditions, ChoiceOne has repeatedly fostered trust and delivered unparalleled value to both their customers and MCDC. We are honored to continue our journey of success with ChoiceOne Bank in the years ahead."
ChoiceOne Vice President, SBA Lending Officer Aaron Griffin concluded, “Our goal is always to develop relationships with our customers so we can recommend the best solutions for their business needs. With an SBA 504 Loan, we can provide small business customers with long-term, fixed-rate financing for the acquisition of major fixed assets such as land, buildings, vehicles, machinery and equipment. ChoiceOne was recognized as the community bank who did the most SBA 504 loans with MCDC in 2024.”
About the Michigan Certified Development Corporation
Established in 1982, the Michigan Certified Development Corporation is the state’s leading partner in Small Business Administration loans. Headquartered in East Lansing with offices throughout the state, the nonprofit has supported more than 1,000 small businesses over the past four-plus decades, facilitating loans in 90% of Michigan counties and powering growth, expansion and job creation. MCDC is the first and only certified development corporate to reach Premier status with the SBA. For more information, visit https://michigancdc.org/.
About ChoiceOne
ChoiceOne Financial Services, Inc. is a financial holding company headquartered in Sparta, Michigan, with assets over $4 billion, and the parent corporation of ChoiceOne Bank. Member FDIC. ChoiceOne Bank operates 56 offices in West, Central and Southeast Michigan. ChoiceOne Bank offers insurance and investment products through its subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne Financial Services, Inc. common stock is quoted on the Nasdaq Capital Market under the symbol “COFS.” For more information, please visit Investor Relations at ChoiceOne’s website choiceone.bank.