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!



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Financing Business Acquisitions


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!

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MBFC’s FY2017 Annual Membership Meeting

MBFC FY2017 Annual Membership Meeting

Minnesota Business Finance Corporation (MBFC) held the FY2017 Annual Membership Meeting on Oct. 26th, 2017 at the Courtyard Marriott in St. Cloud, MN. Thank You to our Board of Directors, Membership, Lenders, Economic Developers and Government Officials for a very successful year. We greatly appreciate your business as a crucial part of our continued growth and success! MBFC awarded the Lender of the Year and Member of the Year for FY2017 at this event.

RiverWood Bank, of Baxter, has been awarded 
MBFC’s FY2017 Lender of the Year!

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.

(Pictured: Josh Rardin, Credit Analyst-RiverWood Bank, Benjamin Duhn, Business Banking Officer-RiverWood Bank, Bruce Kennedy, Baxter Branch President-RiverWood Bank, Nadene Kruize, Senior Vice President-MBFC and Tom Saehr, President & CEO of MBFC)

Gordon Winzenburg, has been awarded
MBFC’s FY2017 Member of the Year!

Winzenburg, President & Owner of CMG Finance of Brainerd, referred the most SBA 504 loans to MBFC during the last fiscal year. He has been a longstanding MBFC Member and is currently a MBFC Board Member.

(Pictured: Tom Saehr, President & CEO-MBFC, Gordon Winzenburg, President of CMG Finance, and Nadene Kruize, Senior Vice President of MBFC)

MBFC was chosen as the MN SBA Top CDC of the Year for the third year in a row, highlighted for greatest number of SBA 504 loans in the State!
Nancy Libersky, Director-MN SBA District Office and Royce Nelligan, District Counsel-MN SBA District Office spoke at the meeting about their fiscal year and noted the Small Business Administration and Minnesota’s impressive small business sector growth.

For more information about MBFC, or for details on the
SBA 504 Loan Program, please visit with a MBFC Business Development Officer in your area!

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Olde Brick House Awarded MBFC’s VetLoan Advantage Rebate

(Pictured: Steve Letnes, Owner-Olde Brick House and Nadene Kruize, Senior Vice President-MBFC)

Minnesota Business Finance Corporation (MBFC) is honored to present Steve Letnes, of Olde Brick House, our VetLoan Advantage Rebate of $3,000. This Rebate is part of the Strategic Initiative of the National Association of Development Company’s (NADCO) VetLoan Advantage program. 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.

Letnes, and restaurant partner Pete Poepping, opened Olde Brick House Irish pub. They converted the vacant business space (which was originally built in 1890) with a complete remodel into an authentic Irish pub. Olde Brick House is widely becoming known for excellent food, drinks, and atmosphere as well as convenient location in a part of revitalized Downtown Saint Cloud.  We are proud to present this rebate based on Steve’s military background in the Army National Guard for six years in the 1970’s.

For more information or to visit Olde Brick House click a link to their website here: Olde Brick House

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MBFC Awarded #1 CDC in Minnesota!

MBFC Awarded #1 CDC in Minnesota!

(Pictured: Nadene Kruize, SR VP-MBFC, Nancy Libersky, Director-MN SBA District Office, and Tom Saehr, President & CEO-MBFC.)

Thursday, September 7, 2017 Minnesota Business Finance Corporation (MBFC) was recognized as the Top Certified Development Company (CDC) in Minnesota based on loan volume in SBA 504 loans at the 5th Annual Minnesota SBA Lenders Conference.

Nancy Libersky, District Director of the MN SBA District Office congratulated MBFC and presented Tom Saehr, President & CEO and Nadene Kruize, Senior Vice President with the award honoring MBFC’s 2017 accomplishments.

This is the third consecutive year MBFC has received an award from the MN SBA District Office. MBFC is consistently ranked in the Top 20 of the 260+ CDC’s in the Nation and is honored to receive this prestigious award.

(Pictured: Michelle Mueller-MBFC, Joe Kammermeier-MBFC, Gordy Winzenburg-CMG Finance and MBFC Board Member, Tom Saehr-MBFC, Carol Anderson-Morrison County Community Development and MBFC Board Member, and Nadene Kruize-MBFC.)

Thank you to our Lending Partners and Small Business Borrowers for helping to make
MBFC the #1 CDC in Minnesota!

*Photo provided by Sarah Swenty/SBA

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