Michigan Impact | December 2024
Featured Deal
Industrial Complex Financed in Novi
MBC recently provided $6.5 million in permanent financing for a 50,000 square foot industrial building in Novi. The property houses 3 manufacturing companies that employ hundreds of people in the Oakland County area.
Project Details
Amount: $6,500,000 Permanent Financing
Where: Novi, Michigan
MBC and our partner credit unions provided take out permanent financing with competitive terms and a flexible prepayment penalty structure. This gave the borrower options to evaluate refinancing should interest rates come down in the future or ease an exit if it receives an attractive offer to sell. Since industrial buildings are in high demand and supply is low, this kind of flexibility is critical to this borrower and others like it.
MBC and our funding partners are difference makers all over the state of Michigan. We are community-focused and mission driven. We are committed to lending in both weak and strong economic cycles across a wide variety of financing amounts, property types and needs. At over $1.8 billion in managed assets, this consistency is what has allowed MBC to be one of the leading commercial lenders in Michigan.
Contact MBC today to see how we can provide the financing solutions you need.
MBC was established in 2004 to help support Michigan credit unions offering commercial loans. Credit unions working with MBC combine their resources and work together to offer the best borrowing options for Michigan businesses. In addition to offering SBA, MEDC, and USDA loan programs, MBC provides the following conventional loan types:
- Commercial Real Estate Financing
- Commercial Construction and Development Financing Commercial
- Term Loans and Equipment Financing
- Commercial Lines of Credit