Oakland County, MI
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Contact Info
Financial Services
248-858-0765
financialservices@oakgov.com
Monday - Friday
8:30am - 5:00pm
Business Loans
Project: Puritan Magnetics, Oxford MI | www.PuritanMagnetics.com
Business Finance Corporation (BFC)
USE OF FUNDS
- SBA 504 Loan Program
- Fixed assets
- Building improvements, construction, renovation, acquisition and related soft costs
- Land acquisition and improvements
- Machinery and equipment
- Refinancing
- Fixed assets
- Building improvements, construction, renovation, acquisition and related soft costs
- Land acquisition and improvements
- Machinery and equipment
- Refinancing
LOAN AMOUNT
$250,000 to $13 million+
$250,000 to $13 million+
TERMS
10, 20 and 25 years
10, 20 and 25 years
RATE
Fixed at closing
Fixed at closing
BORROWER EQUITY
10%
10%
LOAN AMOUNT
Up to $50,000
Up to $50,000
TERMS
Up to 6 years
Up to 6 years
RATE
Fixed at closing
Fixed at closing
Oakland County Revolving Loan Fund
USE OF FUNDS Working capital, fixed assets, building improvements, inventory
LOAN AMOUNT
$50,000 to $200,00
$50,000 to $200,00
TERMS
5-10 years
5-10 years
RATE
Fixed at closing
Fixed at closing
The Oakland County Economic Development Corporation (EDC)
USE OF FUNDS Non-profit and manufacturing entities fixed assets financing
LOAN AMOUNT
$2 million to $10 million
$2 million to $10 million
TERMS
Varies by project.
Varies by project.
RATE
Varies
Varies