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Funded Projects

The SBA 504 Loan Program provides healthy small and medium-sized businesses with long-term fixed rate financing for the acquisition or construction of fixed assets. Projects are financed through a unique public/private partnership that involves private lenders financing 50% of project costs, MCDC covering up to 40% of project costs, and small businesses investing at least 10% of project costs. By taking a secondary collateral position on project assets, SBA provides a “collateral cushion” for the primary lender and reduces the amount of equity normally required of the borrower.

Funded Projects

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Old Town Gym

Old Town Gym and Equipment of Bay City, Inc. (OTG) has been in business for 16 years and previously operated out of an old leased building on Bay City's west side. This project involved the construction of a new fitness facility. This new facility sports a unique log cabin design and is 2,600 square feet larger than the old location. OTG provides individuals in the greater Bay City area with personal physical fitness training and group classes for various aerobic and meditative exercises. OTG is equally owned by brothers Ray Neering and Ed Neering. The Neering's were able to finance the construction of the new gym with only 15% down.


Orthodontic Associates of Port Huron

Dr. Ash has been practicing dentistry since 1975.  From 1984 to 2004, Dr. Ash worked in several dental practices in the Ann Arbor area.  In 2007, he purchased his current practice in Port Huron.  The practice provides invisible braces, as well as more traditional orthodontic treatments.

After leasing his office condo for many years, Dr. Ash decided to purchase his space.  The building is 2,870 sq ft and has five examining rooms.  It is located on Holland Avenue, which is just off the main road through Pt Huron’s retail/business district.  By using the SBA 504 Loan Program, he was able to make the purchase with 10% equity while taking advantage of the long term interest rate offered by the program.

For more information on Orthodontic Associates of Port Huron, please visit www.bluewaterbraces.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!

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Ortonville Quick Lube

Ortonville Quick Lube was purchased by Mark Yaldo with help from Bank of America and the MCDC SBA 504 Program. Mr. Yaldo and his brother started Top Quality Oil Change in Detroit in 1994, which his brother still operates. Mark left in 2003 to start another location in Chesterfield Township, but sold that location in 2005. After that he worked with his brother at the Romeo Quick Lube until the opportunity to purchase this facility arose. Mr. Yaldo was able to finance 85% of this property by partnering with the SBA 504.


Oshtemo Veterinary Hospital, Inc.

Following his BS and DVM degrees at Michigan State University in 1986, Dr. Delman Heckaman, Jr began his professional practice with Oshtemo Veterinary Hospital, which was originally started several years prior.  Oshtemo Veterinary Hospital, is a full-service small animal veterinary practice, providing services such as, but not limited to, immunization wellness, nutritional counseling, behavioral medicine, surgery, euthanasia, micro-chipping, as well as a full-service pharmacy.

The practice had been run out of a small 1,500sf office, which Dr. Heckaman had owned, but he desired to expand his office space.  Dr. Heckaman partnered with PNC Bank, who used the SBA 504 Loan Program to build a new 3,600sf+ office and also equip it with brand new practice equipment.  Additionally, due to Dr. Heckaman’s existing equity in his existing building, he was able to accommodate the new building and the new equipment with very little cash injection, and ultimately earn a long-term fixed rate for a substantial portion of his project.  Moreover, Oshtemo Veterinary Hospital satisfied a key SBA Public Policy goal of assisting a business within a Labor Surplus Area.

For more information on Oshtemo Veterinary Hospital, Dr. Heckaman and his staff, please visit www.oshtemoveterinaryhospital.com.  For additional information on PNC Bank, please visit www.pnc.com, and to see how Michigan Certified Development Corporation can help fund your business, please visit www.michigancdc.org, Michigan’s #1 SBA Lending Partner!

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Outdoor Adventures, Inc.

Outdoor Adventures Lake Shore Resort offers a beautiful natural setting of nature trails and a spring-fed lake. With a beach area and cafe, indoor and outdoor pools, fitness room, recreation facilities and planned activities and entertainment, this campground offers fun and relaxation for the entire family. Located just east of Flint, this campground is close to historical sites and museums, a cider mill, riding stable, nature preserves, shopping and fine dining. Owner, Greg King decided to expand and add 40 model cottage homes to accommodate the growing demand. The MCDC SBA 504 Loan Program allowed Mr. King to affordably finance his expansion with a long term, low-fixed rate.


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