Michigan City Revolving Loan Fund Assists Local Manufacturer
St. Andrews Products, Co. to benefit from local loan fund
Michigan City, IN – St. Andrews Products, Co., will be the city’s second business to benefit from the Michigan City Revolving Loan Fund. St. Andrews Products, Co. was formed in 1989 by Skip Strzelecki and today, one of the top ad specialty firms in the country, providing a complete range of logo wear and other logo items, golf specialties and gift items.
At its recent meeting, the Michigan City Revolving Loan Committee reviewed and recommended approval of St. Andrews Products Co. loan request in the amount of $210,000. The loan will be used for building renovations, purchase new equipment, repair existing equipment and update company software. The company’s manufacturing and logo applications are completed in house and the renovations and equipment updates will result in retaining 50 jobs and creating 10 new jobs.
“Thanks to Michigan City Councilman Don Przybylinkski for bringing the loan program to my attention, this is a fantastic business resource that that will help businesses grow in Michigan City, Indiana” said Skip Strzelecki.
Mayor Ron Meer said, “Michigan City is committed to assisting growing local businesses in Michigan City, both large and small. The revolving loan fund was established for that purpose and we hope to see many more businesses seeking to invest in Michigan City take advantage of this valuable financial resource.”
Michigan City will benefit from the additional employment being made available when the project is completed.
The Michigan City Revolving Loan Fund (MCRLF) was established in 2010 with the purpose of stabilizing and expanding the employment base and economy of Michigan City through and attraction of primary employment. In March of 2015, the EDCMC partnered with the Regional Development Company (RDC) Valparaiso, IN. The RDC works in conjunction with the EDCMC and the City of Michigan City to review and process the MCRLF.
EDCMC Chairman and MCRLF committee member, Joie Winski, LaPorte County Auditor said, “Michigan City, Indiana continues to lead the way in promoting businesses to invest in our community. The EDCMC is excited about the revolving loan program and what it can do for the business community.”
The next step in the process is a hearing before the Michigan City Board of Public Works to approve the loan documents and disperse the funds based on the recommendation of the Michigan City Revolving Loan Committee.
Local businesses seeking information about the Michigan City Revolving Loan Fund, please visit: www.rdc504.org or call (219) 476-0405.
Economic Development Corporation Michigan City, Indiana is committed to growing and attracting new industry and business to the community as well as strengthening existing business. EDCMC services, programs and its one-on-one assistance clearly provides the optimum business environment — a place where commerce and industry can prosper and grow. EDCMC merges the right mix of resources, including: city government officials, utility engineers and the expertise of business leaders. Exclusive incentive packages and unique natural resources make Michigan City the place to build or expand. For more information, call (219) 873-1211 or visit www.edcmc.com.