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:

Vinkier Land Almont LLC

Mike and Lori Vinkier currently own two Spartan Grocery stores in Yale and Wadhams, MI.  After an independent hardware store building became vacant in Almont, the Vinkiers decided to start their third location.  The SBA 504 loan was used to purchase and renovate the building, while paying off some existing debt.

The Vinkier’s have been successful by locating their stores in small towns, which are not large enough to support the “big box” stores, thus eliminating much competition.  By aligning themselves with Spartan, one of the largest grocery suppliers in the country, they receive competive pricing and standardized, recognizable products.

For more information on Vinkier Foods, please visit  www.Vinkierfoods.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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Vision Collision Center LLC

Vision Collision Center specializes in auto body repairs and is able to work on all makes and models.   Owners Jack Brown and Kevin Cozik opened their doors in 1998, and have since grown the business to four locations in Lansing, Haslett, Dewitt and East Lansing.  Their newest and 5th store is located in Grand Ledge.  Both Jack and Kevin chose the SBA 504 Loan Program because they wanted a long term fixed rate loan with only 10% down.  This project created 11 new jobs to the Grand Ledge area. 

For more information on Vision Collision Center please visit www.visioncollisionllc.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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Wags to Wiskers

Incorporated in 2002 by Dena Gilmore, Wags to Wiskers has built an excellent customer relationship in the Chelsea community.  Wags to Wiskers is a retail pet store that sells pet food and supplies with a “small town” feel.  They also host events and fundraisers giving customers an opportunity to show their pets.  Dena wanted to construct a larger building in Chelsea for quite some time so that she could add more product lines focusing on natural, holistic nutrition for dogs and cats. 

With the help from the SBA 504 Loan Program offered by MCDC, Dena was able to construct this beautiful 9,400 sq. ft. building with only 10% down. She also received a low, fixed interest rate for 20 years.

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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Walli's Restaurant and Sports Bar

Burton, Michigan
Total Project:
$1,041,174
MCDC Loan Amount: $375,000
Lender: Community Choice Credit Union, Beth Spadafore
Job Impact: 23


Wally’s Frozen Custard

Wally’s Frozen Custard was started in St. Clair Shores in 1947.  It provides custard and food products to not only retail customers, but also to local businesses, restaurants, and catering events.  Matt and Eliza have owned the business since 2004, but their old facility was limiting their growth and was quite expensive to maintain.

Matt and Eliza decided to build a new location just down the street that would offer drive-up service, more production space, and room to store their catering equipment.  By using the SBA 504 Loan Program, they were able to build the new facility with 10% equity and enjoy a 20-year fixed interest rate. 

For more information on Wally’s Frozen Custard,  please visit www.wallysfrozencustard.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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