Rhino Seed & Landscape Supply, L.L.C.
Rhino Seed & Landscape Supply, L.L.C. is a nursery, garden center, and farm supply retailer in Wayland, Michigan. The company financed real estate or equipment through an SBA 504 loan of $4,246,000, with the SBA portion approved on September 13, 2024, through Mercantile Bank and the Michigan Certified Development Corporation.
SBA 504 loan, approved Sep 13, 2024
$4,246,000 SBA portionCDC: Michigan Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $4,246,000
- Bank portion
- $4,781,751
- Estimated project size
- $10,030,834 (estimated)
- Estimated owner equity
- $1,003,083 (estimated, about 10% of the project)
- Bank lender
- Mercantile Bank, Grand Rapids, MI
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- September 13, 2049 (estimated, approval date plus term)
- First disbursement
- Sep 16, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 444240, Nursery, Garden Center, and Farm Supply Retailers
- Project location
- Allegan County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-3
- Collateral
- Yes
Estimated share of project by source
Bank 48% SBA (CDC) 42% Owner 10%
- Average expansion loan in Nursery, Garden Center, and Farm Supply Retailers: $2,724,667.
- 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.
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Same industry in Michigan
- Church & Beech Redevelopment LLC, Cedar Springs
- Artman's Nursery Operating Company LLC, Westland