Whether you are starting a new business, acquiring an existing one, or investing in commercial property, we can connect you with the right resources and financing solutions.
Overview
Michigan offers tremendous opportunities for entrepreneurs and business owners. From established retail corridors to emerging commercial districts, the state's diverse economy supports businesses of every size and industry.
Understanding your financing options is one of the most important steps in business planning. The Small Business Administration (SBA) offers several loan programs designed to help entrepreneurs access capital at favorable terms. Below, we break down the most popular options and how they can work for your business goals.
As a real estate professional with deep roots in the Michigan business community, Daryl Wizinsky can connect you with trusted SBA lenders, commercial real estate specialists, and business advisors to help bring your plans to life.
SBA Loans
The most versatile SBA loan program, designed for general business purposes.
The SBA 7(a) loan is the Small Business Administration's primary and most flexible lending program. It can be used for a wide range of purposes, making it the go-to option for many business owners.
The SBA 7(a) program is particularly valuable for business acquisitions and startups that may not qualify for conventional lending due to limited operating history or collateral.
SBA Loans
Long-term, fixed-rate financing for major fixed assets like commercial real estate and heavy equipment.
The SBA 504 loan program is specifically designed for businesses looking to purchase or improve commercial real estate or acquire major capital equipment. It features long-term, fixed interest rates and low down payments.
The 504 loan involves three parties:
The 504 program is ideal for established businesses that need to purchase or expand their physical location while keeping cash flow healthy through low down payments and fixed rates.
Acquisitions
Purchasing an existing business is one of the fastest paths to business ownership.
Buying an existing business eliminates many of the risks associated with starting from scratch. You acquire an established customer base, trained employees, proven revenue, and existing operational systems. However, financing an acquisition requires careful planning and the right lending partner.
The most common financing method for small business acquisitions. Up to $5 million with favorable terms and lower down payments than conventional loans.
Many business sellers are willing to finance a portion of the sale price. This can reduce the amount of bank financing needed and demonstrate the seller's confidence in the business.
For well-qualified buyers with strong credit, collateral, and business experience, conventional loans may offer competitive terms without SBA involvement.
A strategy that allows you to use retirement funds to invest in a business without early withdrawal penalties or taxes. Must be structured properly with legal guidance.
Determine the type of business, industry, size, and location that align with your goals, experience, and financial capacity.
Review financial statements, tax returns, leases, contracts, and operational details. Hire professionals for legal, financial, and property inspections.
Work with an SBA-approved lender to structure the financing. Most acquisitions use a combination of SBA loan, seller financing, and buyer equity.
Complete the purchase, transfer ownership, and execute your transition plan. Many sellers provide training and transition support as part of the deal.
Commercial Real Estate
Key considerations when purchasing or leasing commercial real estate in Michigan.
High-traffic locations for retail businesses, restaurants, and service providers. Consider foot traffic, visibility, parking, and lease terms carefully.
Professional office environments ranging from single suites to entire buildings. Evaluate location, amenities, lease flexibility, and growth potential.
Manufacturing, distribution, and storage facilities. Key factors include zoning, ceiling height, loading dock access, and proximity to transportation routes.
Whether you are purchasing commercial property, acquiring a business, or exploring SBA financing, we can connect you with the right professionals to get it done.