GRAND RAPIDS, MI – According to Expansion Management.com, office furniture supplier G. A. Richards Co. will receive support from The Michigan Strategic Fund (MSF), which acts as an intermediary between a borrowing company and lending party to reduce the expense of borrowing because interest paid to the bond buyer is exempt from federal, state and local taxes.
The Michigan Economic Development Corp. recently announced that bond financing in the amount of $3.5 million has been approved to support the expansion of G. A. Richards Co. and G. A. Richards Plant 1.5 LLC. Bonding issued by the MSF will be used to finance construction of a 39,827-square-foot manufacturing facility, as well as the equipping of the company’s existing manufacturing plant on adjacent property. Read more.
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