On Thursday, October 24, 2013 Minnesota Business Finance Corporation (MBFC) held their FY 2013 Annual Membership Meeting at the Holiday Inn in St. Cloud. With over 55 attendees, MBFC celebrated another successful year providing loans to the small business community, finishing the year as the top rated Certified Development Company in Minnesota, by dollar amount. MBFC continues to service the entire state of Minnesota finishing the year with 91 loan approvals totaling over $57.8 million in SBA 504 dollars. This generated over $156.8 million in project financing.
MBFC announced the roll out of a new initiative, VetLoan Advantage Strategic Initiative. In collaboration with NADCO, our trade association, MBFC will offer Veteran owned businesses a rebate of $3,000 to be used to reduce fees associated with a qualifying new SBA 504 project.
Rounding out the day, MBFC heard from guest speaker, Bob Coleman, Editor of the Coleman Report and a recognized expert on small business financing. Bob shared his outlook of the SBA 504 program as well as the future of small business and the economy.
Pictured above are Tom Saehr, President/CEO of MBFC; Bob Coleman, Editor/Publisher of The Coleman Report; and Nadene Kruize, Senior Vice President of MBFC.
As part of MBFC’s annual meeting, awards are presented to the Lender of the Year and the Member of the Year. For FY2013, MBFC recognized the Lender of the Year as Falcon National Bank. Falcon National Bank, had $7.1 million in 504 approvals, totaling $22.5 in overall projects.
Pictured above are Roger Hansen, Commercial Lender/SBA Lender of Falcon National Bank; Rod Runge, Vice President/Branch Manager of Falcon National Bank; Jessica Bitz, Vice President/Senior Lender of Falcon National Bank, Nadene Kruize, Senior Vice President of MBFC; Tom Saehr, President/CEO of MBFC, and John Herges, President/CEO of Falcon National Bank.
For FY 2013, MBFC awarded Gordon Winzenburg the Member of the Year. Gordon had a total of $2 million in 504 approved referrals, totaling $5.9 in overall projects.
Pictured above are Gordon Winzenburg, owner of CMG Finance; Tom Saehr, President/CEO of MBFC; and Nadene Kruize, Senior Vice President of MBFC.