Oakland County Economic Development Corporation (EDC) is a proven, reliable partner with lenders and businesses since 1980.
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.
Manufacturing businesses and non-profit 501(c)(3) organizations in Oakland County, Michigan — except for communities with active Economic Development Corporations.
Machinery and equipment
Related soft costs
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.