ANNOUNCEMENT 08 Dec 2017
In 2017 Michigan provided financial support to a manufacturing firm.
NUMBER OF INTERVENTIONS
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.