Partner Buyout Stock Purchase – SBA 504 ELIGIBLE!
Didn’t think a partner buyout stock purchase was SBA 504 eligible?
It certainly can be!
MBFC just processed a $5 Million Dollar Partner Buyout Stock Purchase that was approved by SBA in 4 business days AND the SBA 504 loan closed within 2 weeks of SBA approval!
Now that’s customer service.
Give us a call today to find out more about MBFC’s quick turn capabilities.
(Pictured: Kim Erickson, American National Bank of Minnesota, Jason Johnson and Shannon Martinson both of Abrasive Blast Supply, Inc. receiving a check from Joe Kammermeier, Vice President of MBFC.)
Abrasive Blast Supply, Inc. Receives MBFC’s VetLoan Advantage Rebate
Minnesota Business Finance Corporation (MBFC) is honored to present Abrasive Blast Supply , Inc. our VetLoan Advantage Rebate of $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. MBFC’s VetLoan Advantage Rebate is part of a strategic initiative of the National Association of Development Companies (NADCO) VetLoan Advantage program.
Abrasive Blast Supply provides sandblasting supplies to businesses and individuals. They also sell and rent all the equipment for portable blast trailers and provide grade D breathable air systems. Johnson and Martinson purchased land and constructed a warehouse and office building in Little Falls, MN.
They utilized financing at American National Bank of Minnesota with lender Kim Erickson and a SBA 504 loan through Kammermeier at MBFC. Tax Increment Financing (TIF) funds were used in part by the borrower from the City of Little Falls during site improvements, parking, and footings/foundation work. For more information about Abrasive Blast Supply, Inc. please click here for a link to their website!
Martinson joined the United States Army in 1988. He attended basic training at Fort Knox, Kentucky. He first served in Amberg, Germany and was positioned on the Czech/Germany border at the end of the Cold War. He then served in Saudi Arabia as Operation Dessert Storm was just beginning. He maintained and drove tanks for nighttime security. He quotes being “the tip of the spear, for the US Army’s 7th Corp” during this time. He was promoted to gunner on the tank and remained there until 1992.
After returning, he was assigned 3/70 Armor, 5th Infantry Division in Fort Polk, Louisiana. This included 2 state-side trainings at Fort Irwin, CA and Fort Hood, TX. Martinson was promoted to Sergeant (E-5). Following his first 4 year enlistment he reenlisted, with the Montana National Guard. He was assigned to the 163rd Cavalry in Helena, MT where he maintained tanks and also fought wild fires twice.
MBFC thanks Shannon for his military service. For more information about MBFC’s VetLoan Advantage Rebate, or details on how to apply, please contact your local MBFC Business Development Officer today!
Below is a recent article from Finance & Commerce. F&C published a recognition piece by the SBA regarding Lenders in Minnesota which are helping small businesses.
MBFC is a Certified Development Company licensed by the SBA to do loans through the U.S. SBA 504 loan program. MBFC is a 4 time recognized top CDC in Minnesota. With offices in Minnetonka, Detroit Lakes, and headquarters in Saint Cloud – they can serve all your lending needs across the state.
Minnesota Business Finance Corporation (MBFC) held their FY2018 Annual Membership Meeting on Thursday, November 29, 2018 at the Courtyard Marriott in Saint Cloud, Minnesota.
Thank you to our Board of Directors, Membership, Lenders, Economic Development Officials, and SBA Officials for a very successful year. MBFC celebrated being awarded the MN CDC of the Year based on volume for the fourth consecutive year.
Nancy Libersky, District Director, Alisha Podobinski, Lender Relations Specialist, and Twila Kennedy, Lead Economic Development Specialist attended as guests from the U.S. SBA Minnesota District Office.
Libersky spoke to MBFC’s Membership and Staff. Her comments reaffirm that Minnesota is positioned as one of the nation’s leading SBA 504 loan program states, both by the number of small businesses and volume of loan growth we continue to see.
(Pictured below: Podobinski and Libersky from the SBA with Nadene Kruize and Tom Saehr of MBFC)
(Pictured: Nadene Kruize, Senior Vice President of MBFC, Tom Koerber, Senior Vice President of First Independent Bank, and Tom Saehr, President & CEO of MBFC.)
The Third Party Lender of the Year award is given to the lender with the highest dollar amount of SBA 504 debentures approved by MBFC and the U.S. Small Business Administration (SBA) within the fiscal year. The award was presented to Tom Koerber, Sr.VP of First Independent Bank, located in Russell, MN.
(Pictured: Nadene Kruize, Senior Vice President of MBFC, Mike Paulus, Executive Director of Cass County EDC, and Tom Saehr, President & CEO of MBFC)
Mike Paulus was awarded the Co-MBFC Member of the Year award due to SBA 504 loan referrals made during FY2018. He is a strong supporter of the program, working to grow the small business sector in and around Cass County, MN.
MBFC’s Member of the Year
(President, CMG Finance, Brainerd, MN)
(Pictured: Nadene Kruize, Senior Vice President of MBFC, Gordon Winzenburg, President of CMG Finance, and Tom Saehr, President & CEO of MBFC)
Gordon Winzenburg, President & Owner of CMG Finance located in Brainerd, MN was also awarded the Co-MBFC Member of the Year due to SBA 504 loan referrals made during FY2018. Winzenburg is a commercial loan packager who has been a longstanding member of MBFC and supporter of the SBA 504 program. He is also a current a MBFC Board Member.
Thank you to all our partners across the state for your support of the SBA 504 program by using MBFC as your top choice of CDC’s in Minnesota.
If you would like more information about using the SBA 504 loan program, or more information about MBFC, call a Business Development Officer near you today.
Minnesota Business Finance Corporation (MBFC) is honored to present Lonnie Ballweg our VetLoan Advantage Rebate of $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. MBFC’s VetLoan Advantage Rebate is part of a strategic initiative of the National Association of Development Companies (NADCO) VetLoan Advantage program.
(Pictured: Jerry “JP” Polejeski (left) of Bell Bank, Lonnie Ballweg (right) Owner of Wash N’ Go, displaying the check from Mike Stearns of MBFC, on behalf of MBFC’s VetLoan Advantage Program.)
Lonnie took a vacant convenience store property on the north side of Fergus Falls and put up a completely new car wash facility. Wash N’ Go is an automated car wash, featuring a touch wash, a touchless wash and an oversized-vehicle touchless wash bay. For more information about Wash N’ Go, please visit their website at: FergusWashNGo.com
Lonnie had 20 years of combined distinguished service in the Air Force and the Air National Guard. Lonnie served 2 years of active duty, 13 years in the North Dakota Air Nation Guard as a “Happy Hooligan”, and 5 years at the 133rd Airlift Wing assigned to the 210th Engineering and Installation Squadron. As a medical technician for 15 years, Lonnie then decided to cross train into information systems management until he retired. During this time in the military, he traveled across the world to several locations from Guam to Africa and many locations in between, proudly serving our country.
If you are interested in additional information or to inquire about
MBFC’s VetLoan Advantage Rebate program
please contact your MBFC Business Development Officer today!