MBFC FY2024 Annual Membership Meeting & Lender of the Year!

Dec 12, 2024 | Announcements, Events

~ FY2024 Membership Meeting Recap ~

We thank our MBFC Board of Directors, Membership, Lending Partners, Economic Development Partners, and Government Officials for your continued loyalty and support! It’s exciting to share our FY2024 results and mission of helping small businesses grow and succeed with all attendees!

MBFC celebrated FY2024 with an Annual Membership Meeting on Wednesday, October 23rd and proudly celebrated FY2024 successes with members and honored guests!

MBFC’s FY2024 results included:

  • $73.7M in SBA 504 lending
  • $198.9M in total project costs
  • 707 jobs created or retained
  • Addition of USDA IRP Lending Pool
  • $74K in grants given to economic development agencies and small business development centers throughout MBFC’s area of operation
  • $12K in MBFC VetLoan Advantage rebates given to Veteran owned businesses
  • Earning the Minnesota SBA 504 Lending Volume Award!

~ MBFC Lender of the Year ~

MBFC is proud to announce that Andy McCombs, Commercial Loan Officer with Midwest Bank, Detroit Lakes, MN is MBFC’s FY2024 Lender of the Year! This award is based on accrued SBA 504 Loan Volume during the fiscal year!  As MBFC’s Lender of the Year, Andy’s awarded a trip for two to accompany MBFC to NADCO’s Annual Meeting in Ft. Lauderdale, FL in October, 2025!

(Pictured: Nadene Kruize, President & CEO of MBFC, Andy McCombs, Commercial Lender of Midwest Bank, Mike Stearns, Vice President of MBFC)

~ A Special Thank You ~

Thank you to Jim Vrchota, Oakwood Bank, outgoing MBFC Board of Director for your many years of support and commitment to MBFC!


~ MN 2024 SBA 504 Volume Award ~ 

MBFC was proud to be named Minnesota’s 2024 #1 SBA 504 Lender (based on volume) at the September Minnesota SBA Lenders Conference in Bloomington, MN!

(Pictured MBFC Staff:  Josh Laffen, VP, Terry Stein, VP, Joe Kammermeier, VP, Crystal Hegland, Closing Officer, Jennifer Fitzpatrick, VP, Sarah Borgman, CCO, Julie Dahlhoff, VP, Mike Stearns, VP, Nadene Kruize, Pres. & CEO and Brian McDonald, District Director-SBA MN DO)

~ Honored Guests ~

Thank you to Brian McDonald, SBA MN District Director and Dan Schmidt, SBA MN District Lender Relations Specialist, for attending and your kind words and continued support of MBFC!

(Pictured: Brian McDonald, District Director-SBA MN DO)