At MBFC, we believe in supporting veterans and improving our communities by providing more-affordable funding for Minnesota start-up and existing businesses. That’s why we’ve partnered with the National Association of Development Companies (NADCO) to offer VetLoan Advantage, a program that will complement the Small Business Administration’s (SBA) veteran loan initiatives.
How it works
VetLoan Advantage helps veterans fund commercial real estate and equipment at a lower cost. Through the program, the Minnesota Business Finance Corporation offers veterans who receive an SBA 504 loan the following benefits:
- Rebates of up to $3,000 to offset SBA 504 loan expenses, including appraisal and environmental reports.
- Up to 90 percent financing for owner-user commercial/industrial real estate and equipment.
- Low down payments (typically 10 percent).
- Attractive long-term fixed rates.
It’s our way of thanking all members of service, especially those who are just re-entering the workforce and transitioning back into civilian life.
Have more questions about VetLoan Advantage? Ready to get started with the process? Contact one of our business development officers today.