Mr. Michael Spontelli and Mr. Mark Marlow are the owners of The Courthouse Athletic Centers in Kalamazoo and Grand Rapids, MI. The Centers are designed specifically for basketball, volleyball and fitness programs. They organize leagues, tournaments, and training opportunities for kids and adults of all ages.
Recently, The Courthouse moved from its existing 28,000 square foot building and built and brand new 47,000 square foot facility for the Grand Rapids market. They accessed the SBA 504 loan for 40% of the end financing. This is the third time
EDF has had the opportunity to work with The Courthouse Athletic Centers. They have utilized the SBA 504 loan program features for real estate financing, equipment financing and debt refinance. The new location in Grand Rapids at 8895 Byron Commerce Dr. SW, Byron Center, MI turned out excellent!
EDF Lender, Bradd Pierce, partnered with Chris Mars, a Commercial Lender at First National Bank to provide the borrower with a very competitive long term financing package including 20 year fixed rate bond pricing. Chris said: "
EDF really helped make this project go smoothly for the bank and the borrower from beginning to end. Bradd Pierce was engaged with the customer from the very start which ensured the approval moved efficiently. After the construction project was complete the final SBA funding was seamless. The borrower was extremely happy to lock up long-term financing for this project through the bank and the
EDF partnership."
