MBFC Awards Inver Grove Storage $3,000 VetLoan Advantage Rebate

(Pictured: Larry Koland and Jerry Kotzenmacher,
Owners of Inver Grove Storage & Rental)

Minnesota Business Finance Corporation (MBFC) is honored to present Larry Koland and Jerry Kotzenmacher, owners of Inver Grove Storage & Rental, our VetLoan Advantage rebate check 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.

Larry Koland and Jerry Kotzenmacher, together with their spouses, are partners in Inver Grove Storage & Rental, in Inver Grove Heights, MN.   Both are employed full-time, but decided to start a self-storage business in 2003.  As the business grew, and demand for storage space increased, they looked for expansion opportunities.  Another storage facility in Inver Grove Heights presented the perfect opportunity to expand, and the SBA’s 504 expansion with refinance program facilitated the purchase.   In 2017, Larry and Jerry decided to add a climate-controlled storage facility to this newest location.  There was room for the new building, and with SBA 504 financing, the expansion project became reality.

Larry, Jerry, and their banker, Bill Lesher of Drake Bank, were all thrilled that the SBA 504 program was an option to obtain long-term, fixed-rate financing.

Larry is retired from the U.S. Air Force, and through MBFC’s Vet Loan Advantage program, received a rebate to offset some of the loan expenses

 

Posted in Industry Insights | Comments Off on MBFC Awards Inver Grove Storage $3,000 VetLoan Advantage Rebate

MBFC SBA 504 Update Lender Training!

REGISTER SOON:

MBFC’s 2018 SBA 504 Update Lender Training:

If you have already RSVP’d, and received a confirmation, thank you! We look forward to seeing you soon. 

MBFC is launching our 2018 SBA 504 Update Lender Training in 7 cities across Minnesota. Please join us to get an update on the SBA 504 program, including the new SOP 50 10 5(J) rules, 504 Refinance program, and various economic development programs in your area. Please see the list below of available locations and choose a training site that is most convenient for you and your Commercial Lending Staff.

To register please email RSVP@mbfc.org or call toll free 1-800-593-0123.

Registration is FREE and includes a light breakfast. Don’t forget to include your training on your lending institution’s continuing education efforts, or CRA involvement, with local Economic Development/SBA 504 Loan Program/Fixed Asset Financing topic.

Training at each location is held from 9:00 – 11:30 AM

SAINT CLOUD
Friday, March 2
Holiday Inn Hotel & Suites
75 37th Ave. S., Saint Cloud


MOORHEAD
Wednesday, March 7
West Central SBDC/Concordia
1310 8th St. S, Moorhead


BEMIDJI
Thursday, March 8
Hampton Inn & Suites
1019 Paul Bunyan Dr. SE, Bemidji


DULUTH
Friday, March 23
Inn on Lake Superior
350 Canal Park Dr., Duluth


EDEN PRAIRIE
Wednesday, March 28
Minnesota Bankers Association (MBA) Office
8050 Washington Ave. S., Eden Prairie


*UPDATE*

ROCHESTER
Friday, March 30
Rochester Community & Technical College (Southeast SBDC)
1926 College View Rd East, Rochester


MARSHALL
Tuesday, April 3
Ramada Inn
1500 East College Dr., Marshall

 

REGISTER TODAY by Emailing RSVP@mbfc.org     Or by Calling 1-800-593-0123

CONTACT US TO DISCOVER MORE

Expedited Turn Time on SBA 504 Approvals

Expedited Turn Time on SBA 504 Approvals


Attention Lenders:

If you’re being advised to close without a SBA 504 Loan Authorization, SBA approval on appraisal and environmental – you’re taking on unneeded risk!

At MBFC, our strong commitment to customer service has always been our priority! We approve applications weekly for submittal to SBA and are receiving consistent SBA turn time of 3-5 business days.

Are you interested in simultaneous closings? We can accommodate!

Find out why MBFC is
Minnesota’s leading
SBA 504 Lender!


Contact us to discover more.

Posted in Announcements | Comments Off on Expedited Turn Time on SBA 504 Approvals

Gap Lending as Borrower Contribution with SBA 504

 

 

 

Attention Lenders!


Do you need help with borrower contribution on your client’s projects and would still like to take advantage of the low down payment and long term fixed rates that a SBA 504 Loan can offer?

Gap lending can be used as part of their borrower contribution on a project. This can include an Economic Development Revolving Loan Fund or Seller Carryback financing.

Economic Development Revolving Loan Funds can have a 10 year term and still meet the SBA 504 Loan Requirements!

 

FIND OUT WHY MBFC IS MINNESOTA’S LEADING SBA 504 LENDER!

Posted in Industry Insights | Comments Off on Gap Lending as Borrower Contribution with SBA 504

Financing Business Acquisitions

ATTENTION SBA 7a LENDERS:


Recent SBA SOP 50 10 5(J) has significant changes in regard to financing business acquisitions. If a seller carry back note is part of your equity requirement – SELLER HAS TO BE ON FULL STANDBY for the life of the loan with the SBA 7a Loan Program.

This is NOT the case with the SBA 504 Loan Program! Call your MBFC BDO today to find out how they can help you get the project financed involving seller carry back financing as part of the equity requirement.


Find out why MBFC is Minnesota’s leading SBA 504 Lender!

Posted in Uncategorized | Comments Off on Financing Business Acquisitions