The McNish Group is a full service insurance agency started in 1968 by Bill McNish and is the majority tenant in their newly refinanced 25,962 sq. ft. building. The other units in the building are occupied by a CPA firm and a law practice. Partners in the real estate holding company that owns the building (26622 Woodward LLC) are Matthew Farrell, a well-known commercial real estate broker in the Detroit area, and Dan Davis, who owns a large construction contracting company as well as Bill McNish.
The partners built the building, located on Woodward Ave. in 1987 and have renovated it over time. Due to the drop in real estate values in recent years, the holders of the current note on the building asked the borrowers to find financing elsewhere. By taking advantage of the 90% financing offered by the SBA 504 Loan Program, the borrowers were able to replace their current debt with a long-term interest rate, while at the same time, refinance their debt with very little equity required.
For more information on The McNish Group, please visit www.McNish.com and for additional information on how Michigan Certified Development Corporation can help fund your business, please visit www.michigancdc.org, Michigan’s #1 SBA Lending Partner!
Financing Provided & Structured Through: Michigan Certified Development and US Small Business Administration