Kit Masters, Inc. Awarded $3,000 VetLoan Advantage Rebate

(Pictured: Brian Swanson, Owner-Kit Masters, Inc. accepting a check from Mike Stearns, Vice President-MBFC)

Kit Masters Receives $3,000 MBFC VetLoan Advantage Rebate

MBFC is honored to present Brian Swanson, of Kit Masters, Inc. in Perham, MN, our VetLoan Advantage Rebate for $3,000.  MBFC is the only Certified Development Company in Minnesota to offer a rebate to business owners that are active or retired members of military service.

Kit Masters manufactures heavy-duty, aftermarket components such as fan clutches, rebuilding kits, and accessories for large diesel engines. It was a home based business back in 1996 and has grown considerably into a very successful manufacturing business. Their most recent development is the purchase of land and construction of a new building using an SBA 504 loan through MBFC in partnership with United Community Bank in Perham, MN as the lead lender.

Brian is part of a four-brother business operation, along with Darrin, Craig, and Trent. They have expanded and built a 32,000 sq ft facility in Perham, MN for better layout of equipment.  This will accommodate the increased capacity of each machine. They will also be able to use the space for research and development as well as improve the flow of shipping orders.

Swanson shared part of his military experience from 1986-1988. He was stationed in Hawaii in the Army as a 13E Cannon Fire Direction Specialist at the headquarters for the 25th Infantry Division (Tropic Thunder) at Schofield Barracks. His job was calculating firing distance and ordinance. His specific role was supporting the coordination of troop activity for the entire artillery division. He states that he learned numerous life lessons that shaped him “as a man and a member of society, most notably how to trust and depend on others and be someone deserving of other’s trust and confidence.”

For more information about Kit Masters, Inc. and a link to their business website, please click here.

MBFC thanks Brian for his military service. For more information about MBFC’s VetLoan Advantage Rebate, which is a strategic initiative of NADCO, or details on how to apply, please contact your local MBFC Business Development Officer today!

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2018 SBA Minnesota Lenders’ Conference

Lenders, are you ready to attend the 2018 SBA Minnesota Lenders’ Conference?

Thursday, September 6th, 2018

Marriott Minneapolis Northwest

7025 Northland Drive N

Brooklyn Park, MN 55428

8:00 a.m. – 4:30 p.m.

CLICK TO REGISTER HERE

Ready to sharpen your skills as a leading SBA lender in the State? The 2018 SBA Minnesota Lenders’ Conference is coming soon.  Attend workshop sessions and see vendor exhibits highlighting the ways to meet businesses need for capital.

Training includes (but not limited to) the following topics:

  • SBA 504 Program
  • SBA 504 Refinance
  • 7(a) Servicing
  • Purchase Requests
  • Franchise
  • Equity
  • Credit Elsewhere

MBFC will be in attendance at the conference! Come see our exhibit and enter to WIN one of our two $100 Money Trees, that’s right – cash prize! Stop by our booth to register. We’d love to see you! If you have any questions, please see your Business Development Officer for more details how to enter to win.

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July SBA 504 Interest Rates: And New 25 Year Debenture!

Increasing Interest Rates a Concern?

 

                          Take advantage of
SBA 504!

 

In today’s environment of increasing interest rates, now is the time to help your borrowers take advantage of the 10, 20, and now 25 year fixed interest rates that SBA 504 can offer.

The SBA 504 Refinance program is an excellent way to help your existing borrowers feel secure with a long term fixed rate!

 

July is the 1st month for
pricing on the 25 year
fixed rate debenture!

 

Give your MBFC Business Development Officer
a call today for additional information!

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Grant Awarded to Central MN SBDC

Minnesota Business Finance Corporation (MBFC) presented an economic development grant to the Small Business Development Center (SBDC) in Saint Cloud, MN. Nadene Kruize, Senior Vice President of MBFC presented the check to Barry Kirchoff, Director of the SBDC.

MBFC supports initiatives operated by the SBDC’s across the state. This grant will be used towards the Central Region SBDC focus group meetings to identify gaps in assistance and new opportunities, specifically western Stearns county (such as Paynesville, Sauk Centre, Belgrade, and Brooten). The focus group will also assist the SBDC with uncovering areas that need additional support such as new business startups, small businesses that need access to capital, and tracking employment statistics of jobs created and retained in those communities listed above.

For more information about the Central Region SBDC please click here for a link to their website. For more information about how your group can apply for a community economic development grant, please contact Tom Saehr, President & CEO of MBFC.

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Central MN Realty Awarded VetLoan Advantage Rebate!

(Pictured below: Adam Vee, Commercial Loan Officer for American Heritage National Bank, Matt Imdeke, President of Central MN Realty, and Joe Kammermeier, Vice President MBFC)

Minnesota Business Finance Corporation (MBFC) is honored to present a $3,000 VetLoan Advantage Rebate to Matt Imdeke, President and Owner of Central MN Realty. MBFC is the only Certified Development Company in Minnesota to offer a rebate to business owners that are active or retired members of military service.  Adam Vee, Commercial Loan Officer with American Heritage National Bank, and Joe Kammermeier, Vice President of MBFC, presented the check to Imdeke at his office.

Central MN Realty worked with MBFC by using a SBA 504 loan to purchase an existing commercial building in Saint Cloud, MN to expand and relocate the Realtor office. Imdeke’s primary Commercial Lender is Vee at American Heritage National Bank who also worked on financing the project. For more information or to visit Central MN Realty’s website click here.

Imdeke joined the Army National Guard at age 17 in 2001 with plans to serve for 6 years. September 11th occurred and he served in Bosnia for 9 months on the Croatian/Serbian border with the mission of maintaining peace and disarming the public.  After Bosnia, he spent one year in college. In October, 2005 he was deployed to Iraq for 2 years where he served as a gunner and truck commander.  His primary mission was to escort supply trucks and protect supply routes to the many military compounds.

During Matt’s deployment to Iraq his initial 6 year contract expired but he was required to reenlist because he was on a Mission Essential Combat Unit. Imdeke served 9 years with a honorable discharged in 2010. He remains thankful to the others with which he served.

MBFC thanks Imdeke for his service and is proud to offer the VetLoan Advantage Rebate program. For more information how to apply please contact your MBFC Business Development Officer.

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