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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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Papa Joe's Oakland

Papa Joe's Oakland is a specialty fruit and vegetable retail market located in a revitalized area of Rochester Hills that once was vacant industrial buildings. The market is in a newly built building, although the business has been in existence for over 14 years. This SBA 504 loan involved the purchase of machinery and equipment to be used in the Gourmet Supermarket. This new state-of-the-art store offers gourmet-to-go options along with catering. The location of this market is excellent, being in a shopping center that has other large regional chain retail stores as tenants. With the help of PNC Bank and the MCDC's SBA 504 Loan Program, the owners were able to purchase the equipment necessary to keep this long-time operation growing with only 10% down and they received a fixed-rate, low-interest loan for 10 years.


Partners in Architecture, PLC

Partners in Architecture provides complete architectural services such as owner representation, project programming, and facilities analysis. The partners in the firm had the opportunity to purchase and completely renovate a historic building in Mt. Clemens, which had been used as a Firehouse, dating back to the time of horse drawn fire engines (1915) 

Since their founding in 2005, PIA has grown considerably and found themselves in need of additional space.  By taking advantage of the SBA 504 Loan Program arranged by MCDC, the partners were able to meet their goal of designing an eco-friendly building.   


Partners in Family Medicine PLLC

Dr. Koby who has been practicing medicine for 14 years started Partners in Family Medicine in 2007 in rented space.  The rented space was adequate but not ideal and Dr. Koby found a more suitable location that offered a better configuration and location for his practice only three miles away.  The new location is located near churches and schools which will increase visibility for the urgent care, walk-in portion of the practice and is more centrally located to the existing patient base when analyzed against zip codes making patient retention more likely.  

The SBA loan made it feasible for Dr. Koby to purchase the building and make substantial improvements enhancing interior functionality and exterior appearance which improved the neighborhood.   Plus they got a great fixed rate!

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


Pat's Food Center

Pat Cabala started his career in the grocery business at the very bottom of the ladder, working as a clerk and bagger. After years of hard efforts, Pat was able to create his own store, Pat's Food Center, in 1955. Ever cognizant of the evolving market, Pat has kept pace by modifying his inventory offering, and focusing on good-quality customer service. By using the SBA 504 Loan Program, Pat has been able to construct a new building to accommodate his expanding market, and retrofit his current location to diversity more fully with an expanded hardware section.


Patriot Ambulance Service, Inc.

Patriot Ambulance Service, Inc has been serving the Flint area since 2004 and is ranked among the top one percent of ambulance services in the U.S according to the American Ambulance Association.

Patriot Ambulance operated out of a residential leased location that was not large enough nor suited to their needs.  They decided to relocate to a nearby building with 1.15 acres which provided adequate garage space for their ambulances along with a better location.  Partnering with their lender from JPMorgan Chase and the MCDC SBA 504 Loan Program, Patriot was able to finance their new location with a low fixed interest rate for 20 years.

For more information on Patriot Ambulance Service, Inc.,  please visit www.patriotambulance.net 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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