ANNOUNCEMENT 08 Dec 2017

In 2017 Michigan provided financial support to a manufacturing firm.

 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 08 Dec 2017 | Removal date: open ended
Still in force

Loan guarantee

The Michigan Strategic Fund Act was enacted in 1984. One of its instruments is the Michigan Collateral Support Program, which balances a borrower’s collateral shortfall by depositing cash collateral into a lending institution to create an “in policy” loan for the senior lender. On December 8, 2017 Kalkaska Screw Products Inc. --  a supplier of precision machined parts to the automotive, aerospace and heavy truck industries --  received $11,200,000 in support under this program.

AFFECTED SECTORS