Small Business Development Center

Small Business Development Center (SBDC)

The Chamber of Commerce Grand Haven, Spring Lake, Ferrysburg has a high-quality, full-service Small Business Development Center (SBDC) that offers small business counseling, start-up assistance, business plan preparation, financial trend analysis and assistance with projections, financial packaging and loan assistance, licensing and permitting information, management and training assistance and a tremendous information and referral resource to other providers within the community, the region and the state of Michigan.

The Chamber offers these services to businesses and individuals located within Northwest Ottawa County - which includes Ferrysburg, Grand Haven, Spring Lake and Grand Haven and Spring Lake Township. The Chamber's Small Business Development Center is part of Region 7 which is based at Grand Valley State University. This offers a regional approach to small business assistance which is made up of a broad base of quality resources within Ottawa, Kent and Muskegon Counties.

A Small Business Start-Up Seminar is offered roughly two times per year in Northwest Ottawa County and even more often within the region as a whole. Additional training and seminars are also available on a regular basis that address specific business needs and concerns. Please contact Tricia Ryan at (616) 846-3153 for a free Business Start-Up Packet or for further information about the SBDC.

The Michigan Small Business Development Center Satellite Office at the The Chamber of Commerce is partially funded by the U.S. Small Business Administration (SBA) under Cooperative Agreement 6-7770-0023-14. Any opinions, findings and conclusions or publication are those of the author(s) and do not necessarily reflect the views of the U.S. Small Business Administration.

SBA 504 LOAN PROGRAM

The Chamber of Commerce Grand Haven, Spring Lake, Ferrysburg also acts as an SBA 504 loan packaging and servicing agent for the West Michigan Lakeshore Certified Development Company. This SBA program is an economic development tool designed to assist small businesses in expanding their business by providing fixed asset financing that has a fixed rate and is long term. The program requires that one job be retained and/or created for every $35,000 loaned through the SBA 504 financing program. The maximum loan available is $750,000 or 40% of the total project, whichever is less. The SBA takes a second position behind the bank.

Typical SBA 504 Financing Package

Bank 50% Market Rate, 10 yr.-real estate/7 yr. equip. First Lien

SBA 40% Fixed Rate, 20 yr.-real estate/10 yr. equip. Second Lien

Small Business 10% (Equity)

TOTAL 100%

Contact David Miller at (616) 846-3153 for further information about this financing program.