Overview
What is Oakland County Business Finance Corporat?
Oakland County Business Finance Corporation is a nonprofit organization situated in Waterford, Michigan. With a mission adopted in 2009, they aim to promote the prosperity and general welfare of their local community, foster economic development, and grow the small business sector. They serve 166 companies, assisting them in acquiring financing for capital improvements through their role as a U.S. Small Business Administration (SBA) approved Certified Development Company and an authorized lender under the SBA Section 504 Guaranteed Loan Program. By providing partial financing for fixed assets, they help small businesses thrive and create employment opportunities in their area of operation.
Official website here: www.oakgov.com
Is Oakland County Business Finance Corporat legitimate?
Oakland County Business Finance Corporat is a legitimate nonprofit organization registered as a 501(c)(4) entity. Oakland County Business Finance Corporat submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.oakgov.com
What is the mission statement of Oakland County Business Finance Corporat?
The Oakland County Business Finance Corporation, an SBA-approved entity, aims to promote the well-being and prosperity of individuals and businesses within its operational area. It strives to foster economic development and growth within the small business community. Furthermore, the corporation is committed to increasing private sector employment opportunities for its local population. Its mission, adopted in 2009, emphasizes its role in providing partial financing for small businesses through the SBA Section 504 Guaranteed Loan Program, thereby contributing to the overall economic growth and development.
Official website here: www.oakgov.com
Who is the CEO of Oakland County Business Finance Corporat?
Catherine Rasegan is the Chairperson of Oakland County Business Finance Corporat.
Official website here: www.oakgov.com
What is the revenue of Oakland County Business Finance Corporat?
Oakland County Business Finance Corporat's revenue in 2023 was $632,276.
Official website here: www.oakgov.com
Who are the executives of Oakland County Business Finance Corporat and what are their salaries?
Here are 15 key members and their salaries:
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Official website here: www.oakgov.com
Where can I find the form 990 for Oakland County Business Finance Corporat?
Oakland County Business Finance Corporat's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.oakgov.com
Learn more at the official website: www.oakgov.com
Mission Statement of Oakland County Business Finance Corporat
Oakland County Business Finance Corporation, as a U.S. Small Business Administration (SBA) approved certified development company and an authorized lender under the SBA Section 504 Guaranteed Loan Program, aims to promote the general well-being, welfare, and prosperity of individuals residing or operating businesses within its area of operations. This mission-driven organization seeks to accomplish this by fostering economic development and growth in the small business community. Additionally, Oakland County Business Finance Corporation strives to enhance private sector employment opportunities for the people within its operational region. This mission was formally adopted by the organization's board on April 7, 2009.
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Impact
October, 2024
Oakland County Business Finance Corporation plays a crucial role in fostering economic development and growth in the region. By serving as an approved U.S. Small Business Administration Certified Development Company, it facilitates access to vital financing for small businesses through the SBA Section 504 Guaranteed Loan Program. This program supports the purchase and improvement of fixed assets, enabling local businesses to invest in their infrastructure and expand their operations.
Currently assisting 166 companies, the organization contributes significantly to the local economy by promoting general wealth and welfare for residents and business operators. Its mission focuses on enhancing private sector employment opportunities and promoting economic vitality. By providing critical loan analysis and administration services, Oakland County Business Finance Corporation helps businesses overcome financial barriers, driving innovation, job creation, and overall community improvement.
This information is meant to be a general summary of Oakland County Business Finance Corporat. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $14,963
- Program Service Revenue: $617,313
- Gross Receipts: $632,276
Assets and Liabilities:
- Total Assets: $1,194,699
- Total Liabilities: $10,000
- Net Assets: $1,184,699
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE FEE INCOME
Revenue
$377,355
ESCROW FLOAT INTEREST
Revenue
$133,306
PROCESSING FEES
Revenue
$99,113
REIMBURSEMENT INCOME
Revenue
$5,200
LATE FEE INCOME
Revenue
$2,339
Organization Details
Founding Year
1981
Phone
(248) 858-5101Principal Officer
Catherine Rasegan
Main Address
2100 PONTIAC LAKE ROAD, WATERFORD, MI, 48328
Website
www.oakgov.comNTEE Category
Code: S43 - Community improvement
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