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.
Hal and Jean Neiman along with their children Bryan, Nathan and Amy Rogers, have owned and operated Neiman’s Family Market since 1983 in Alpena. They added stores in East Tawas and St. Clair over the years. Now they have opened a new location in Clarkston.
The opportunity to lease the right location was too hard to pass. This project financed leasehold improvements and equipment purchases for the new Clarkston store. Their unique deli and fresh foods are their specialty as this family owned business thrives on quality and customer service you just can’t find in a big box store.
For more information on Neiman’s Family Market please visit www.neimansfamilymarket.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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Incorporated in 2013, NEMO Capital Partners, LLC is a privately-held investment company with ownership in companies centered around electronic health, medical records and practice management systems. NEMO consists of four partners who have extensive knowledge and legal expertise in the electronic health care industry. They also offer consulting services.
With three locations around the US, they wanted to consolidate their offices into one building to improve cost effectiveness. This is great news for the Southfield region as NEMO will bring several new jobs to the area. With the help of JPMorgan Chase and the MCDC SBA 504 Loan Program, NEMO Capital Partners obtained a low fixed interest rate for 10 years.
For more information on NEMO Capital Partners, LLC, please visit www.nemocp.com. 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!
Neuenfeldt Family Eyecare began in 1999 by Dr. Richard Neuenfeldt. Neuenfeldt provides a wide range of eye care services, including examinations for all ages. Dr. Neuenfeldt graduated from Ferris State University and the Illinois College of Optometry in Chicago. His internship was at Chicago Osteopathic Medical Center and after five years he opened his own practice. His wife Sheila is the office manager.
This project involves the purchase and renovation of an existing building in Grand Blanc. Neuenfeldt Family Eyecare had been leasing their building and was able to purchase it with the help of FirstMerit Bank and the MCDC SBA 504 Loan Program. The larger building will be ideal for Dr. Neuenfeldt to grow his practice. By taking advantage of the SBA 504 Loan Program, Richard and Sheila obtained low rate financing with only 10% down.
For more information on Neuenfeldt Family Eyecare, please visit www.neuenfeldtfamilyeyecare.com 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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New Age/Landmark is an environmental monitoring company that needed more space to serve client needs. With the help of MCDC and Sturgis Bank & Trust Company they were able to build a new 3,100 sq ft facility that is equipped with a full internal security system to insure the safety of their client's data. There is more office space, two on-site laboratories, and a warehouse for the manufacturing of mobile labs. The facility also allows space for expansion. Growth in the business necessitated increased space. New Age/Landmark elected to use the SBA 504 Loan Program to construct a new building for their expansion. Below market rates and extended terms are two of the benefits they enjoyed with the SBA 504.
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!
New Century had been leasing a building in Midland since 1995, but in recent years, it was becoming evident that Ken could not fit any more employees into his very cramped office location. Ken set out to find a building he could purchase with as little down as possible. His banker introduced him to MCDC, who could give Ken 90% financing with a very low fixed interest rate. Ken was ecstatic.
New Century provides mechanical engineering, design, and detailing services essential to commercial and industrial builders as well as pressure vessel/storage tank fabricators and erectors. Ken is an avid airplane pilot who helps those in need through the Air Charity Network.
For more information on New Century Engineering & Design please www.newcenturyeng.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!