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Northwind Investments, Inc.

Northwind Investments, Inc.

Greg Johnroe, Kevin Egnatuk, Norm and Robert Spalding
Kalkaska, Michigan

Northwind Investments, Inc. was formed in 1978 by Richard Andresen as the majority shareholder, who grew the business to 29 Burger King locations.  In 1999, Richard sold the operations to his 3 main operational managers, Kevin Egnatuk, Norm Spalding, and Bob Spalding and his controller, Greg Johnroe.  Today, Northwind owns and operates 24 Burger King locations throughout Northern Michigan and owns and operates 7 Qdoba restaurants throughout Mid-Michigan.

Even though Northwind has owned and operated these Burger Kings for many years, they were still leasing the real estate from Richard.  Recently, Richard decided to sell the properties to Northwind.  By using the SBA 504 Loan Program, Northwind was able to finance all eight Burger King locations into one 20-year loan for only 10% down.

For information on how Michigan Certified Development Corporation can help fund your business, please visit www.michigancdc.org, Michigan’s #1 SBA Lending Partner!


Total Project Amount: 
$6,935,000
Date of Loan(s): 
3/2012
MCDC Loan Amount: 
$2,837,000
Lender: 
Russ Mathews, Comerica Bank
Job Impact: 
525

Financing Provided & Structured Through: Michigan Certified Development and US Small Business Administration

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