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.

Filter Projects:

Waterford Oaks Senior Care, Inc.

Waterford Oaks Senior Care, Inc. (WOSC) was founded in 2007 as a licensed assisted living facility that has been operating since October 2007.  It was designed and built for the husband and wife team of Brian and Trina Watson.  The senior care home has been so successful, that the Watsons are now expanding by constructing an identical assisted living facility next door that will double their residents.

Waterford Oaks provides a warm and caring atmosphere for all of their residents.  Trina’s daily presence at the home ensures that each resident is treated like family.

For more information on Waterford Oakes Senior Care, Inc. please visit www.waterfordoaksseniorcare.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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Waverly Animal Hospital

Dr. Jennifer Raphael chose to be a veterinarian because of her love of animals.  She has worked at Waverly Animal Hospital since 2001, then took over the management in 2013.  In 2014, Dr. Raphael had the opportunity to purchase the building.  So, she contacted her lender at PNC Bank, who recommended the SBA 504 Loan Program offered by MCDC. 

Waverly Animal Hospital specializes in small animal medicine with services that include routine care, surgeries, daycare, boarding, and grooming. The building Waverly Animal Hospital occupies has two surgery rooms, five exam rooms, and a boarding and kennel area.

For more information on Waverly Animal Hospital,  please visit www.waverlyanimalhospital.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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Weber Specialties Company

Incorporated in 1955, Weber Specialties Company (WSC), a metal stamping manufacturer, provides tooling, assemblies, and other fabricated components to several industries; appliance, automotive, furniture, medical, electrical, seating, and industrial hardware.  As WSC was rapidly growing and accommodating new projects for large customers, they identified a need for new/replacement equipment, along with increased space to fill production, and they approached their lender at First National Bank of Michigan.  Together with MCDC, Weber Specialties Company was able to add onto their building, refinance the current mortgage debt, and satisfy all of the needed equipment, and do so with one simple project and do so with only 10% equity injection, thus allowing the Company to keep cash available to organically fund its growth.

This project also met a Public Policy Goal of aiding a business within a Rural Area, as well as assisting a business involved in manufacturing that will create many new jobs to the Schoolcraft area.

For more information on Weber Specialties Company please visit www.weberspecialties.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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Weber's Inc. d/b/a Weber's Inn

Weber’s is an independently owned and operated 158-room full service boutique hotel serving the Ann Arbor area.  It is rated four stars by Orbitz and Travelocity and is a destination for weddings, banquets and dignitaries traveling to Ann Arbor.  The business was founded by Herman Weber in 1937 but the hotel opened at its current location in 1970 with four subsequent additions.  Ken Weber took over as president of the company in 1979 and is now the majority owner continuing to actively manage the business on a day-to-day basis.  Ken’s son recently joined the company and is gaining experience to assume management of the company in the future.   The owners have continuously renovated the interior of the hotel with the most recent extensive renovations undertaken in the last year.  It became clear, however, that significant exterior renovations were going to be needed to stay competitive with their corporate-flagged rivals who were all in the process of major renovations.  Failure to stay appealing would result in loss of market share and ultimately loss of employment as business declined.  The SBA loan in conjunction with Comerica allowed the hotel to update its 40 year old exterior to new design standards greatly improving curb appeal and keeping the facility competitive in the market.    See the results of the renovation at the company’s web site, www.webersinn.com.

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!

 


West Construction Services

West Construction Services
Pontiac, Michigan
Total Project:
$690,000
MCDC Loan Amount: $285,000
Lender: Genisys Credit Union, Brandy Telfer
Job Impact: 15


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