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.
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Moseley's Equipment Repair, LLC was started in 2003 in Lansing by husband and wife, Nick and Donna Moseley. They repair large equipment such as forging and stamping machines and equipment. Nick is a mechanical engineer and machinist who has over 30 years experience in press repair and rebuild. Nick’s reputation as an excellent press repairman has allowed him travel to jobs all over the US. Nick was born in the UK, but in the 70’s and 80’s, he wanted to see different countries, so he took tool & die maker jobs in Mexico and the US. He fell in love with the US and has lived here since 1981 as a Legal Permanent Resident.
Moseley’s was operating out of two locations, which was very inefficient and costly. With the help of the SBA 504 Loan Program and MCDC, they purchased one large 10,000 sq ft building in order to consolidate their operations. They also financed a large crane that is imperative to their business. Moseley now enjoys all of their operations under one roof and they have space to grow their business.
For more information on Moseley’s Equipment Repair, LLC please visit www.repairpress.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!
Motor City Stamping was incorporated in 1969. Their primary products are small to medium stamping and welded assemblies, with over 5.5 million parts shipped on a monthly basis. MCS also places a particular emphasis on progressive die technology. Business has been strong for Motor City Stamping which allowed them to purchase a six-arm weld cell to be used to help produce parts for their clients a new auto platform program. MCS purchased equipment while benefiting from low rate financing with only 10% down and with the help from PNC Bank.
Hunting enthusiasts and friends, Jamal Bahri, Wail Dickow, Ghassan Kuza, and Ronnie Orow, opened a shooting range in Southfield with great success which led them to expand into a much larger second location in Eastpointe.
With the assistance of their commercial lender at FirstMerit Bank, they utilized the SBA 504 Loan Program and were able to construct and equip their new building. The owners were able to hit all of their financing targets with a low down payment and fixed rate 20 year loan.
Moving Target Macomb has 20 indoor computerized firing lanes, training from highly skilled instructors, sells firearms and provides safety courses. Moving Target will also allow law enforcement and security guard companies to train in this new facility.
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!
MSA Delivery Service was started by Jerry and Marion Rozum in 1992. Mr. and Mrs. Rozum have been in the trucking business for over 25 years and have grown MSA Delivery Service to the point of needing a larger building for their 50 trucks, 75 trailers and 65 employees. The purchase of their new building was financed through the MCDC SBA 504 Loan Program, in partnership with JP Morgan Chase Bank. MSA offers a wide variety of delivery options for their clients, some which are 50 ton moves. With the help of JP Morgan Chase Bank and MCDC Jerry and Marion Rozum were able to finance their new building while keeping their deliveries on time.
Munising is popular with toursists, hunters, fisherman and snowmobilers; all of whom are the typical clientele of the Munising Terrace Motel. The 18-unit Terrace Motel located in downtown Munising offers cable television, wireless internet, a kitchen, and a recreation room. There is also a garage available for visitors who need to perform snowmobile maintenance. Larry Baur's dream was to own and operate a motel in the Upper Peninsula and when the opportunity arose to purchase The Terrace Motel, he contacted Michigan Certified Development Corporation. Larry was able to obtain a low fixed rate for 20 years with the SBA 504 Loan Program.