Tax-Exempt Revenue Bond Program (EDC)
Call (248) 858-0765 to start an applicationEligible Businesses
Manufacturing businesses and non-profit 501(c)(3) organizations in Oakland County, Michigan - except for communities with active Economic Development Corporations.
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. The 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.
2018 EDC Highlights
Bond Recipient Rochester College
$14,700,000 Bond Refinancing
$4,125,000 Bond Issued
Since 1980 We Have
113
14,945
$743,825,000
Funded Projects
Jobs Created
In Investments
Eligible Projects
- Land Acquisition
- Building Renovation
- Land Improvements
- Machinery and Equipment
- Building Acquisition
- Related Soft Costs
- Building Construction
Manufacturing businesses, as well as not-for-profit organizations. Capital expenditures for businesses (excluding not-for-profits) are not to exceed $20 million.
- Land Acquisition
- Land Improvements
- Building Acquisition
- Building Construction
- Building Renovation
- Machinery and Equipment
- Related Soft Costs
All of Oakland County except for those communities with active Economic Development Corporations.
Approximately $2 million to $10 million. (No limit for not-for-profits.)
Bank or public/private placements via an investment banking firm.
Varies by project.
Based on the borrower’s credit
Variable (can't be zero).
The assets being acquired, plus a bank letter of credit or other credit enhancement.
Front-end fees ranging from 2% to 3% of the bond amount. Some of the fees may be financed.
90 to 120 days from application.
- Very attractive interest rates.
- Up to 100% financing.
- Can include financing needs over a 3-year period.
