Manistique, MI (2020)
402 West Elk Street
Manistique, MI 49854
NMTC financing supported equipment upgrades for a recycled paper manufacturer and paper mill. The new financing supported the ongoing development and improvement of the Manistique-based paper company’s operations.
The refinancing consisted of two components: an allocation of Federal New Markets Tax Credits from Michigan Community Capital, which provides favorable terms for businesses investing in defined economically distressed regions; and conventional term and revolving credit facilities with JPMorgan Chase.