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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.

Funded Projects

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Northland Outfitters

Northland Outfitters is a campground that includes 14 acres of forested land along the Manistique River, with four rental cabins, fourteen campsites, canoe and kayak rentals, and a convenience store. This beautiful campground sees many happy campers return each year. Leon and Donna Genre were looking for an adventurous business to operate in their retirement years. Having 33 years of knowledge in electrical and plumbing work as a municipal employee, Leon has a great start to running his own business. This retirement dream of Leon and Donna's would not have been possible without the help of the MCDC SBA 504 Loan Program.

For more information on Northland Outfitters please visit www.northoutfitters.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!

 


Northwind Investments, Inc.

Northwind Investments, Inc. was formed in 1978 by Richard Andresen as the majority shareholder, who grew the business to 29 Burger King locations.  In 1999, Richard sold the operations to his 3 main operational managers, Kevin Egnatuk, Norm Spalding, and Bob Spalding and his controller, Greg Johnroe.  Today, Northwind owns and operates 24 Burger King locations throughout Northern Michigan and owns and operates 7 Qdoba restaurants throughout Mid-Michigan.

Even though Northwind has owned and operated these Burger Kings for many years, they were still leasing the real estate from Richard.  Recently, Richard decided to sell the properties to Northwind.  By using the SBA 504 Loan Program, Northwind was able to finance all eight Burger King locations into one 20-year loan for only 10% down.

For information on how Michigan Certified Development Corporation can help fund your business, please visit www.michigancdc.org, Michigan’s #1 SBA Lending Partner!


Northwind Investments, Inc.

Northwind Investments, Inc. was formed in 1978 by Richard Andresen as the majority shareholder, who grew the business to 29 Burger King locations.  In 1999, Richard sold the operations to his 3 main operational managers, Kevin Egnatuk, Norm Spalding, and Bob Spalding and his controller, Greg Johnroe.  Today, Northwind owns and operates 24 Burger King locations throughout Northern Michigan and owns and operates 7 Qdoba restaurants throughout Mid-Michigan.

Even though Northwind has owned and operated these Burger Kings for many years, they were still leasing the real estate from Richard.  Recently, Richard decided to sell the properties to Northwind.  By using the SBA 504 Loan Program, Northwind was able to finance all eight Burger King locations into one 20-year loan for only 10% down.

For information on how Michigan Certified Development Corporation can help fund your business, please visit www.michigancdc.org, Michigan’s #1 SBA Lending Partner!


Northwind Investments, Inc.

Northwind Investments, Inc. was formed in 1978 by Richard Andresen as the majority shareholder, who grew the business to 29 Burger King locations.  In 1999, Richard sold the operations to his 3 main operational managers, Kevin Egnatuk, Norm Spalding, and Bob Spalding and his controller, Greg Johnroe.  Today, Northwind owns and operates 24 Burger King locations throughout Northern Michigan and owns and operates 7 Qdoba restaurants throughout Mid-Michigan.

Even though Northwind has owned and operated these Burger Kings for many years, they were still leasing the real estate from Richard.  Recently, Richard decided to sell the properties to Northwind.  By using the SBA 504 Loan Program, Northwind was able to finance all eight Burger King locations into one 20-year loan for only 10% down.

For information on how Michigan Certified Development Corporation can help fund your business, please visit www.michigancdc.org, Michigan’s #1 SBA Lending Partner!


Northwind Investments, Inc.

Northwind Investments, Inc. was formed in 1978 by Richard Andresen as the majority shareholder, who grew the business to 29 Burger King locations.  In 1999, Richard sold the operations to his 3 main operational managers, Kevin Egnatuk, Norm Spalding, and Bob Spalding and his controller, Greg Johnroe.  Today, Northwind owns and operates 24 Burger King locations throughout Northern Michigan and owns and operates 7 Qdoba restaurants throughout Mid-Michigan.

Even though Northwind has owned and operated these Burger Kings for many years, they were still leasing the real estate from Richard.  Recently, Richard decided to sell the properties to Northwind.  By using the SBA 504 Loan Program, Northwind was able to finance all eight Burger King locations into one 20-year loan for only 10% down.

For 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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