The United States is home to more than 33.2 million small businesses, according to Oberlo. Markets are competitive, and each year some businesses fold, but many also thrive. In order to succeed in competitive markets, many businesses take out startup loans. These loans offer entrepreneurs resources, which in turn can be used to build up … Continued
The old adage is you need to spend money to make money. Small business owners understand this principle better than anyone, but when the cash isn’t ready on hand, you might find that you need to take out a business loan. In fact, according to Fundera, 43% of small businesses operating in the U.S. took … Continued
Big companies are usually the ones making headlines, but it’s often the small businesses in a community that really make up the backbone of that local economy. It’s estimated that small businesses created 1.6 million jobs in 2019 alone, according to the SBA’s Office of Advocacy. Let’s look more closely at how small businesses affect … Continued
Small business owners often face challenges that larger business owners don’t have to deal with. According to Nerd Wallet, when it comes to having their financial needs met, only 48% of the small business owners polled responded affirmatively. Fortunately, business loans in Michigan are available to owners and operators of small businesses through the Small … Continued
Linda Michael is the 7(a) Associate – 7(a) Lending (SBA). Linda joined the MCDCstaff in the summer of 2023. Linda is responsible for the collection and analysis of documentation and portfolio management for MCDC’s 7(a) Department. Prior to her position with the MCDC, Linda worked in the mortgage and financial services industry for over 20 … Continued
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, … Continued
Owners, Chad Dingman and Alexander (Alex) Galeczka purchased a much needed larger building for their expanding sports dealership. LaBaron’s Power Sports Inc is one of the largest power sports dealers in the state and is known for its unbeatable prices on equipment and customer service.
It was the great inventor Thoma Edison who inspired Tecla Company, Inc.’s founder Thomas E. Clark to start his own small business.
In 2016, Munising Native/Business Owner Thomas Dolaskie IV and his business partner Darrin Hubbard worked with Peoples State Bank of Munising to purchase and renovate a vacant property now known as the Roam Inn & Tracey’s Restaurant.
A love of sports cycling is what motivated Ray and Janet Clemens to purchase a Sports Craft business in 1981. It did not take long to realize that customers who were enthusiastic about motor sports were more likely to ride other types of motor sports vehicles and need equipment and accessories.