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.
Zentx Media Group (Zentx) was started in 1997 by brothers Mike and Mark Wenz. Zentx is a full-service graphics provider specializing in high-end specialty promotions that don’t fit traditional advertising methods. They meet a diverse range of graphic needs, which includes corporate expo displays, logos, marketing materials, vehicle graphics, signage, store graphics, tour bus customization, and much more. After using every inch of their two current locations, Zentx consolidated them into one location by constructing a new building. The MCDC’s SBA 504 Loan Program helped Zentx finance the construction by providing them with a very low, fixed interest rate for 20 years. In addition, they only had to put 10% down.
For more information on Zentx Media Group, Inc. please visit www.zentx.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!