Minnesota Business Finance Corporation (MBFC) held the FY2014 Annual Membership Meeting on Wednesday October 22nd at the Holiday Inn in Saint Cloud. With over 60 attendees, MBFC celebrated another successful year providing SBA 504 loans to small businesses all across Minnesota. MBFC finished the year with 82 loan approvals totaling over $46.8 million in SBA 504 dollars. This generated over $126.6 million in project financing.
United Community Bank of Perham, Minn was recognized as the MBFC FY2014 Lender of the Year. This honor is given to the Third-Party lender with the highest dollar amount of SBA 504 debentures approved by MBFC and the SBA.
There were 4 MBFC Members chosen as MBFC FY2014 Member of the Year honorees: John Elden, Northland Foundation, Gordon Winzenburg, CMG Finance, Terry Stallman, Otter Tail Power Company and Chuck Johnson, City of Perham-EDA. The recipients had either the highest dollar volume or largest number of deals referred to MBFC for the last Fiscal Year.
King Banaian, Interim Dean, School of Public Affairs, and Professor of Economics at Saint Cloud State University was the featured guest speaker on local, national, and global business. He offered a great conversation on the world economy and tied in how that relates to business dealings in Minnesota.
Pictured: Bryce Anderson, Cedric Rossow, Ryan Rustad, and Charles Cavanagh, President, United Community Bank, Perham MN, and Tom Saehr, President & CEO, MBFC
Pictured: Gordon Winzenburg, CMG Finance, John Elden, Northland Foundation, and Tom Saehr, President & CEO of MBFC
Pictured: Terry Stallman, Otter Tail Power Company, Chuck Johnson, City of Perham-EDA, and Tom Saehr, President & CEO, MBFC
Nadene Kruize, Sr. VP, MBFC, King Banaian, Interim Dean-Prof. of Economics, SCSU, and Tom Saehr, President & CEO, MBFC