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:

White Horse Inn

This SBA 504 project is for the purchase and renovation of The White Horse Inn located on East High Street in Metamora.  The White Horse Inn was built in 1842 and is considered to be Michigan's oldest operating restaurant.  Over the years the building has been an Inn, a stage coach shop, a railroad station, an underground railroad stop, and even a house of prostitution.  New owners, Victor Dzenowagis and Linda Egeland are able to keep touches of the old and new while renovating it into a successful restaurant building.   They’ll also provide fresh craft cocktails, carriage rides, sleigh rides, and Sunday brunch.

With the help of the SBA 504 Loan Program offered by MCDC Victor and Linda are renovating their historic building and are experiencing the great benefits of the program, including below market rates and loan terms. 

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!  

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Whitehall Pet Practice

With a degree in veterinary medicine from Michigan State University Dr. Amy Kidder has owned and operated her veterinary practice for several years. She recently decided to open a new practice in Whitehall, Michigan. Based on Amy's successful history as a veterinarian she was able to obtain long term financing to construct and equip a new veterinary practice at low fixed rates via the SBA 504 Loan Program. This woman owned business meets a Public Policy Goal of assisting businesses located in rural areas. Amy's new veterinary practice was made possible with help of Shelby State Bank and MCDC's SBA 504 Loan Program.

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!

 


Wholesale Home Decor Inc

Wholesale Home Decor Inc
Farmington Hills, MI
Total Project: $
1,325,000
MCDC Loan Amount: $409,000
Lender: Level One Bank, Dara Gaucher
Job Impact: 6


Wholesome Foods LLC dba Elevation Burger

Elevation Burger is a new fast food franchise that is owned and operated by Sarah and Michael Tayter.   It is the first location for the franchise in Michigan.  Elevation Burger uses the slogan “Ingredients Matter,” and are the first and largest fast food burger restaurants to serve “100% USDA certified organic” and “100% certified grass-fed beef burgers”.

The restaurant will operate out of a leased premises, and the project is for the purchase of equipment and leasehold improvements for the building located at 3365 Washtenaw Avenue in Ann Arbor.

For more information on Elevation Burger please visit www.elevationburger.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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Williams Cheese Company

The Williams Cheese Company has been in business over 61 years. This family owned business began along the Saginaw Bay in an old barn in 1945. Today they produce, age, and package over five million pounds of cheese a year. Ninety percent of the company's products are sold through several large retailers and distributors. The owner, Michael Williams, has been with the company over 35 years. This project helped the Williams family expand their current facility in the rural area of Linwood. They previously operated part of the business from a leased building, but with this SBA 504 loan, they will have brought their entire operation under one roof. With this consolidation, the business is more efficient and profitable. Citizens Bank and MCDC helped the Williams obtain a low fixed interest rate for 20 years with only 10% down.


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