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MCDC | SBA 504 Rates for August 2023 Customer Spotlight

MCDC-Logo CroppedJuly 2023 Rates & News

6.55% 25-Year Debenture – 6.57% for Refinance
6.60% 20-Year Debenture – 6.62% for Refinance
7.06% 10-Year Debenture – 7.08% for Refinance
 
Your Local SBA Lender and
the #1 Leading Lender in Michigan

Customer Spotlight
Eh! Burger 

Eh_ Burger LLC ps
 

Long-term, below-market fixed interest rates are what inspired entrepreneurs Tom Dolaskie IV and Darrin Hubbard to partner with MCDC’s Senior Loan Officer Todd Horton for a 2nd time. Their first SBA 504 project was with The Roam Inn & Tracey’s Restaurant located in Munising. The second project involved one of their other successful Munising Restaurants, Eh! Burger. This new project involved the refinance of existing bank and seller debt originally used to purchase the Eh! Burger property and equipment. They once again worked with Peoples State Bank’s Rick Nebel and Molly Depew-Orr to help facilitate the successful SBA 504 Loan Application. By working with these trusted partners and using SBA loan products, Tom and Darrin received a better long-term fixed interest rate which has helped them save a considerable amount of interest expense annually. 

The SBA 504 loan program has been a crucial resource for small businesses, providing them with access to capital for real estate and equipment purchases. It enables entrepreneurs like Tom, Darrin, and businesses like Eh! Burger to invest in their future, create job opportunities, and contribute to the local economy. We are grateful to be part of their journey. Their dedication to quality, innovation, and community engagement continues to inspire us all. 

If you’re in Munising or planning a visit to the area, be sure to stop by Eh! Burger to savor their mouthwatering burgers and experience their exceptional hospitality firsthand. They are eager to serve you and share the fruits of their growth with the community.


 
 
Contact your Regional MCDC Loan Officer
 
 
 
 
 
Mike Ufford
Senior Loan Officer
Macomb, E. Detroit & E. Oakland County
 
(810) 329-4340
 
 
 
 
Scott Vroegindewey
Senior Loan Officer
West Michigan
 
(616) 405-5754
 
 
 
 
Jack Johnson
Senior Loan Officer
Ann Arbor, Detroit & W. Oakland County
 
(734) 222-4954
 
 
 
 
Todd Horton
Senior Loan Officer
Upper Peninsula
 
(906) 360-2968
 
 
 
 
Coty Gould
Loan Officer
Central Michigan
 
(989) 318-4988
 
 
 
 
Eric Maly
Senior Loan Officer
Northern Michigan
 
(231) 246-8022
 
 
 
 
Steve Pricco
Director 7(a) Lending
Statewide
 
(517) 220-2394

With seven offices throughout Michigan, MCDC’s experienced team will work with you through every step of your SBA Loan. MCDC is a non-profit corporation certified by the U.S. Small Business Administration to provide SBA 504 Loan Financing and 7(a) Lender Services. For four decades, MCDC has been a leader in SBA financing in Michigan, participating in projects impacting more than 64,000+ jobs and more than $3 Billion of economic investment. For more information, please feel free to call us at 833-4SBA-LOAN or 833-GET-7ALOANS or visit us at
www.michigancdc.org
Michigan Certified Development Corporation
Phone: (517) 886-6612 | Fax: (517) 886-6619

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