Finance V Michigan

The State Bank in Michigan closes three financing deals

The State Bank in Michigan closes three financing deals,ph01

The State Bank closed three new financing facilities secured by projects in Michigan.

The first was a $6.1 million refinancing of an apartment rental portfolio in Lansing, Michigan. Matthew Wilk of the State Bank in Brighton, Michigan, arranged the financing with the assistance of Matt Shane of q10-Lutz financial Services.

The second project was the purchase of a multifamily property in Chesterfield Township, Michigan. This was the first large-scale acquisition for this customer, who had experience in the ownership of single-family rentals before this purchase. Wilk also arranged the financing for this deal.

The third project was the refinance and expansion of a dental practice in Livonia, Michigan. State Bank used the U.S. Small Business Administration’s 7(a) program to provide a long-term loan for the dentist. Wilk again arranged the financing.