Tax-Exempt Revenue Bond Program
Oakland County, MichiganAdvantage OaklandBusinessTax-Exempt Revenue Bond Program
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Financial Services 2100 Pontiac Lake Road Building 41W Waterford, MI 48328 (248) 858-0765 Monday - Friday 8:30 AM - 5:00 PM

Tax-Exempt Revenue Bond Program

EDC Economic Development Corporation
Oakland County Economic Development Corporation (EDC) is a proven, reliable partner with lenders and businesses since 1980.
 
All questions welcomed at Oakland County's Economic Development Corporation: (248) 858-0765

The Tax-Exempt Revenue Bond Program provides qualified manufacturing businesses and non-profit 501(c)(3) organizations with loans for capital expenditures. EDC's non-profit mission is to stimulate business capital investment, contribute to the area's employment, increase local tax base, and provide needed public services.

Eligible Businesses:

Manufacturing businesses and non-profit 501(c)(3) organizations in Oakland County, Michigan — except for communities with active Economic Development Corporations.

Eligible Projects:

  • Land acquisition
  • Building renovation
  • Land improvements
  • Machinery and equipment
  • Building acquisition
  • Related soft costs
  • Building construction

Loan Amount: Eligible businesses can receive loans up to $10 million in capital expenditures. Non-profit 501(c)(3) organizations have no limit on their loan amount.|

Funding Source: Bank purchases or public/private placements via an investment banking firm.

Terms: Varies by project.

Interest Rate: Depends on the funding source. (See EDC Fact Sheet for more information.)

Down Payment: Variable — can be zero.

Collateral: Depend on the funding source. (See EDC Fact Sheet for more information.)

Approval Process: 90 to 120 days from application.

Fees: Front-end fees ranging from 2% to 3% of the bond amount. Some fees may be financed.

Advantages: You can receive very attractive interest rates — up to 100% financing.


Bond A​pplication 
      (file size 63k)
TRYNEX International Exterior
TRYNEX International Interior

“Due to the EDC’s intense and sincere interest in our business, we were able to secure a tax-exempt revenue bond to help us acquire six acres of land and an existing manufacturing facility in Madison Heights, Michigan. The almost $2.9 million project also included the rehabilitation of the building and the purchase and installation of machinery. With our business move and expansion, we know we are positioned for long-term growth in sales and new jobs.” 
— James Truan, Vice President of Sales & Marketing, TRYNEX International
 
 
 E​DC Fact Sheet for Not-for-Profit 501(c)(3) Organizations