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.
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.