Main Street Registry

29829 Telegraph Bldg LLC

Southfield, MI · Offices of Physicians (except Mental Health Specialists) · NAICS 621111

29829 Telegraph Bldg LLC is an office of physicians (except mental health specialists) located in Southfield, Michigan. The company financed real estate or equipment through an SBA 504 loan of $1,864,000 approved on May 20, 2024, with Fifth Third Bank as the lender and the Michigan Certified Development Corporation as the certified development company.

SBA 504 loan, approved May 20, 2024

$1,864,000 SBA portionCDC: Michigan Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,864,000
Bank portion
$2,275,000
Estimated project size
$4,598,889 (estimated)
Estimated owner equity
$459,889 (estimated, about 10% of the project)
Bank lender
Fifth Third Bank, Cincinnati, OH
CDC
Michigan Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
May 20, 2049 (estimated, approval date plus term)
First disbursement
Aug 14, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
35
Business type
Corporation
NAICS
621111, Offices of Physicians (except Mental Health Specialists)
Project location
Oakland County, MI
SBA district office
Michigan District Office
Congressional district
MI-9
Collateral
Yes

Estimated share of project by source

Bank 49% SBA (CDC) 41% Owner 10%

  • Larger than 55% of expansion loans in Offices of Physicians (except Mental Health Specialists) on this site.
  • Average expansion loan in Offices of Physicians (except Mental Health Specialists): $2,141,987.
  • Average expansion loan in Michigan: $2,050,489.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Michigan