A subsidiary of Chemical Financial Corporation
InSite Capital began in 2009 with its first tax credit investment in a low-income housing project. Since that time, the corporation has made commitments for investments in over $100 Million in federal historic, low income housing, and new markets tax credits from Michigan's Upper Peninsula to Detroit and Ohio. To date, our portfolio consists of 34 highly transformational projects that have positively impacted our communities.
From tax credit investments to bridge, construction and permanent lending, our team provides unique and innovative financing to meet your needs. We will help unlock equity created by tax credit incentives or access alternative sources of financing to fund your development.
What We Do
Tax Credit Investment
We have extensive experience in investing in development projects or businesses that generate tax credits. These credits include:
- Federal Historic Tax Credits – Offered to developers to encourage the rehabilitation of historic buildings.
- Low Income Housing Tax Credits – Provided to finance the development and construction of affordable rental housing.
- New Markets Tax Credits – Available for operating businesses or real estate projects located in designated low income communities.
- Renewable Energy Tax Credits – Offered to developers to encourage the use of solar energy systems.
- Ohio Historic Preservation Tax Credits – Provides a state tax credit to leverage the private redevelopment of historic buildings in the state of Ohio.
Construction Lending and Bridge Financing – Due to our expertise in tax credits and the flexibility of our affiliated bank, Chemical Bank, we offer bridge and construction lending for tax credit projects. As both the investor and bridge lender, we provide a one-stop-shop for financing incentive-based developments.
Expertise – Our team has a deep understanding of tax credit finance. We work to structure a valuable investment resulting in a strong project and successful business.
Our Bank – Through our affiliated bank, Chemical Bank, we provide bridge and construction financing, as well as other loan products. When acting as both lender and investor, we provide an efficient solution to financing an entire project.
USDA – We successfully combine the USDA guaranty and lending programs with tax credit financing in order to fund unique projects throughout the state.
Flexibility – If issues arise, we have the ability and autonomy to respond quickly.
Access – Our team is here to help. From personally answering questions to providing timely responses to your opportunities, we are always within reach.
Community Impact – We know that redevelopment adds value to our communities. We work in close partnerships with developers, city managers and DDAs to cultivate successful and impactful projects.
Rich is the founder of InSite Capital and serves on the Board of Directors for Chemical Financial Corporation (Chemical). Prior to founding InSite Capital, Rich was the principal founder of Lake Michigan Financial Corporation (LMFC) and its subsidiaries, The Bank of Holland and The Bank of Northern Michigan, which merged with Chemical in 2015. Rich holds a B.A. from Alma College and an M.A. from Western Michigan University.
VP, Business Development Manager
Jason joined the team in 2008 as a member of the company’s Professional Development Program. Prior to joining InSite Capital as a Community Development Officer, Jason was a Commercial Lender focused on manufacturing, oil and gas, and commercial real estate lending. With his expertise in construction lending and tax credit investing on community development projects, he is able to serve as a trusted resource to his clients.
Jason earned his degree in finance and economics from Lake Superior State University and has his MBA from the Eli Broad Graduate School of Management at Michigan State University. Jason is the Treasurer for the Father Fred Foundation and member of the Michigan Historic Preservation Network’s (MHPN) Preservation Incentives Committee.
AVP, Asset Management Officer
Emily started her banking career in 2012 and was also a member of the company’s Professional Development Program. Since then, she has contributed in many diverse departments throughout the organization which has strengthened her relational, critical analysis, and strategic thinking skills. This unique background allows her to effectively underwrite loans and tax credit investments, as well as provide quality asset management.
Emily earned her business degree, double majoring in finance and operations management, from Grand Valley State University, where she is currently pursuing her MSA. Emily is also the Treasurer of New Development Corporation.
VP, Business Development Manager
Sadie started her banking career in 2011 when she joined the company’s Professional Development Program at Lake Michigan Financial Corporation. Drawing on her experience in commercial real estate underwriting and structuring, she is able to work with clients through unique structures to allow complex real estate projects become a reality.
Sadie earned her finance degree and MBA from Grand Valley State University. She serves on the Board of Directors for Artists Creating Together and on the Finance Committee for Dwelling Place of Grand Rapids.
Asset Management Officer
Dan’s banking career began in 2014 as a member of the company’s Professional Development Program, where he spent the majority of his time in the commercial credit department. His technical experience with underwriting large-scale commercial real estate transactions provides quality and critical analysis of tax credit investments, while also delivering a positive and mutually beneficial customer experience.
Dan earned his business degree from Alma College, and serves on the Board of Directors and Finance Committee for BrickWays.