BIRMINGHAM, Mich., March 16 /PRNewswire/ -- PoggiCo Development is pleased to announce the availability of low cost government guaranteed loans for use in purchasing new medical office condominiums in Macomb County. One objective of the February stimulus bill is to assist small businesses in acquiring new buildings and equipment by reducing financing fees normally incurred when buying commercial real estate. Through the availability of stimulus appropriated funds, the processing and participation fees are eliminated until the appropriation dollars are spent.
Ninety percent loans, reduced fees and a below-market fixed interest rate are available to acquire a proposed development of medical office condominiums. Businesses benefit from the lower down payment since its capital can be redirected for other business operations or investment. The long-term, below-market interest rate reduces the risks of occupancy costs climbing as the economy changes.
Joe Poggi, Principal at PoggiCo Development states, "I am very excited about the opportunities these stimulus funds will provide for physicians in Macomb County. The preferential terms now available will strengthen the local medical community as they provide valuable services into the future."
Established in 2003, PoggiCo Development, LLC are developers of medical offices and senior housing. PoggiCo Development is partnering with SEM Resource Capital, one of the largest Certified Development Companies in Michigan, to fund these business loans. For more information contact PoggiCo Development at (248) 433-0331.
|SOURCE PoggiCo Development, LLC|
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