504 SBA Loans / Metropolitan
Growth & Development Corp (MGDC)

Recent SBA 504 Projects

Downriver Gymnastics
Total Project: $1,391,856
Fifth Third: $695,695
SBA.Debenture: $572,000
Equity: $139,185

Ventower – Manufacturer of Wind Towers (Alternative Energy)
Total Project: $20,000,000
SBA 504 Funding: $3,996,000
Jobs Created: 150
Other Funders: Fifth Third Bank, DCC Brownfield RLF

Lost Peninsula Marina, LLC – Marina
Total Project: $1,350,000
SBA 504 Funding: $417,000
Jobs Created: 7
Other Funding: Fifth Third Bank

Avalon International – Bakery
Total Project: $1,511,000
SBA 504 Financing:
Building – $360,000
Equipment – $171,000
Other Funding: Main Street Bank $605,000

The MGDC is a certified non-profit corporation that is recognized by the SBA to assist eligible businesses to participate in the SBA 504 Loan Program. We are here to help.

The Small Business Administration (SBA) 504 Loan Program is a partnership between the Metropolitan Growth and Development Corporation (MGDC) and a commercial lender that is available to viable businesses where the financing will assist in creating or retaining jobs, exporting their products or services, and expanding ownership opportunities within Michigan.

Investing a down payment of 20% or more can be prohibitive for most small businesses to finance expansion needs. There is another avenue. If you’re a healthy business whose expansion plans call for capital investment or additional real estate, and/or equipment, you may qualify for up to 90% financing through the SBA 504 Loan Program.

The 504 Loan Program offers the following key advantages: Enhanced Cash Flow and Low Down Payment – the entrepreneur conserves valuable operating capital and liquidity.

Long Term Financing at Competitive Interest Rates – bring debt service in line with cash flow by providing longer amortized financing and no future interest rates fluctuations.