VetLoan Advantage Rebate Presented to Verazity Storage

Minnesota Business Finance Corporation (MBFC) recently presented a VetLoan Advantage Rebate to Verazity Storage. Mike Stearns presented the check, along with David Ystebo, Commercial Credit Analyst, VISIONBank, to Jon Miller, Co-Owner of Verazity in Fargo, ND. MBFC is the only Certified Development Company to award borrowers with military service a rebate of up to $3,000 upon funding of their SBA 504 loan.

Jon served three years in the Army working with multiple launch rocket systems. One of the other two owners, Rob Margheim, served seven years in the security forces of the Air National Guard. MBFC thanks our borrowers for their service.

(Pictured: David Ystebo, Credit Analyst, VISIONBank, Jon Miller, Co-Owner of Verazity Storage, and Mike Stearns, Vice President Business Development Officer of MBFC)

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Grant Presented to Crookston Housing and Economic Development Authority

MBFC presented a $1,000 grant to the Crookston Housing and Economic Development Authority (CHEDA). Mike Stearns of MBFC visited with Craig Hoiseth, Executive Director for CHEDA to deliver the check. The grant will be used by CHEDA towards their creative co-working space they are implementing in Crookston’s Valley Technology Park.

CHEDA is heavily involved in fostering business growth and retention in the Crookston, MN area, providing guidance to new and growing businesses, as well as providing economic development loans through their available loan funds.

(Pictured below: Mike Stearns, Vice President Business Development Officer of MBFC with Craig Hoiseth, Executive Director of CHEDA)

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VetLoan Advantage Rebate Presented to Fat Old Guy’s Cafe & Catering

Minnesota Business Finance Corporation (MBFC) presented a $3,000 VetLoan Advantage Rebate to the owners of Fat Old Guy’s Cafe & Catering, located in Montrose, MN. Joe Kammermeier, Vice President of Business Development at MBFC, delivered the check to owner, Steve Stone.

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 upon funding of their SBA 504 loan.

(Pictured: Joe Kammermeier, Vice President Business Development Officer of MBFC; Melissa and Steve Stone, of Fat Old Guy’s Cafe & Catering,
not pictured; Patrick Baumgard, Vice President of Citizen’s State Bank)

When Steve purchased the property, he worked with Patrick Baumgard, of Citizen’s State Bank in Montrose. Citizen’s State Bank provided the necessary commercial lending in combination with the SBA 504 loan through MBFC. The project was considered an expansion project due to Stone’s existing experience operating a restaurant in Rockford, MN.

Steve Stone is a United States Marine. His MOS code was in communications. He shared the following with MBFC about his experience:
“For the first year I was a Forward Observer. I operated a PRC-25 and directed fighter jets to their targets until they got a visual to strike with missiles. Then the last two years of my three year tour I was the NCO in charge of the Multi Channel and Teletype. This was setup well away from the main Command Post since it put out a continuous wave both during transmission and receiving. It’s function was so the regimental commander could communicate with company commanders through a
field telephone along with Morse Code.”

“Luckily we’ve had great advancements in our commutations over the years because with this putting out a continuous transmission it was easily tracked by the enemy and the life expectancy of the operator was less than 20% even though we were in a bunker.”

MBFC thanks Steve for his service. For more information about the MBFC VetLoan Advantage Rebate, please contact  your MBFC Business Development Officer today.

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MBFC VetLoan Advantage Rebate to Pampered Pets, LLC

Minnesota Business Finance Corporation (MBFC) recently presented a VetLoan Advantage Rebate to Pampered Pets, LLC. Kammermeier presented the check, along with commercial lender -Matt Castle, Senior Lender of Randall State Bank, to Tom and Shelly Hice, Owners of Pampered Pets, LLC in Baxter, MN.

MBFC is the only Certified Development Company to award borrowers with military service a rebate of up to $3,000 upon funding of their SBA 504 loan.

(Pictured: Matt Castle, Senior Lender of Randall State Bank, Shelly Hice and Tom Hice, Owners of Pampered Pets, and Joe Kammermeier, Vice President Business Development Officer of MBFC)

Pampered Pets, LLC utilized financing through Randall State Bank, and a SBA 504 loan through MBFC, to purchase and renovate a commercial property into a pet boarding business. They now have 2 locations: one with boarding and doggy daycare, and one with pet grooming/pet wash services. Shelly and Tom have operated the business since 2014, and have expanded the two businesses in the Brainerd and Baxter, MN area.

Tom Hice’s military service was as a Data Systems Technician in the Navy from 1990 to 1996. Hice was stationed at combat systems technical schools command in Point Loma, California for the first two years. He then served on the CV-64 U.S.S. Constellation for 4 years, which included one tour to the Persian Gulf during the Gulf War.

MBFC thanks Tom for his service. To learn more about MBFC’s VetLoan Advantage Rebate, or our other economic development opportunities, please contact your MBFC Business Development Officer today.

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7 West TapHouse, Mankato, Awarded MBFC’s VetLoan Advantage Rebate

(Pictured: Steve Letnes, President, Ringneck Restaurants, Inc., and 
Nadene Kruize, Senior Vice President of MBFC) 

Minnesota Business Finance Corporation (MBFC) is honored to present our VetLoan Advantage Rebate to 7 West TapHouse, located in Mankato, MN.  Steve Letnes, President of Ringneck Restaurants, accepts the check from Nadene Kruize, Senior Vice President of MBFC.  MBFC is the only Certified Development Company in Minnesota to offer a rebate of up to $3,000 to business owners that are active, or retired, members of military service upon funding of their SBA 504 loan.

Steve Letnes and Pete Poepping constructed 7 West TapHouse restaurant in Mankato, MN. This is their fifth 7 West Taphouse and this restaurant is the largest, with seating for up to 125 guests. The Mankato location offers brick-oven pizza, burgers, tacos, salads, and has full liquor beverage service.

The VetLoan Advantage Rebate is awarded based on Steve’s military background. He served in the Army National Guard for six years in the 1970’s.

MBFC thanks Steve for his service. For more information about the MBFC VetLoan Advantage Rebate, please contact your MBFC Business Development Officer today.

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