President and CEO Position Description

The President and Chief Executive Officer provides vision and leadership for all aspects of MBFC’s operations with an emphasis on short-term and long-term goals, development, growth of the business in its market position, and ensures the organization maintains thriving culture.

Essential Qualifications, Skills and Experience

  • Demonstrates exceptional written and oral communication skills for a variety of internal and external audiences.
  • Has at least 10 years of managerial experience leading team(s) toward a successful business outcome in the financial industry or related field.
  • Has a background and expertise in one or more of the following areas: internal controls, financial risk management, commercial lending, legal issues related to commercial lending, corporate governance, or economic, community or workforce development.
  • Specific knowledge of and experience in SBA 504 and other loan/economic development programs is preferred.
  • Exhibits excellent leadership, managerial and financial knowledge, skill, and ability.
  • Demonstrates a hunger to equip highly capable staff to achieve business operational excellence.
  • Displays an executive presence that is both confident and humble.
  • Inspires trust with the Board of Directors and trust with employees.
  • Possesses the skill to collaborate and to know when to be decisive.
  • Demonstrates effectiveness with cross-generational management practices and approaches for changing workforce.
  • Must be able to receive clearance from US SBA. This is a condition for employment.

Position Requirements

  • Stimulates a healthy organizational culture that can pivot and be agile in rapidly changing work environments.
  • Articulates a clear and concise vision for MBFC that has sound strategy, tactics, and measures.
  • Oversees the ongoing operations of MBFC.
  • Manages and directs MBFC toward its primary goals and objectives.
  • Oversees employment decisions at the executive level.
  • Leads a team of executives to consider major decisions including acquisitions, mergers, joint ventures, or large-scale expansions.
  • Promotes communication and cooperation among business units to create a spirit of unity in the organization.
  • Interfaces (in-person) with staff, Loan Committees, Board of Directors, Members, and other stakeholders per SBA requirement.


Duties and responsibilities listed suggest oversight. Specific policies and procedures may be delegated within the organization.

Board of Directors

The President and CEO reports to the Board of Directors and works regularly with the Board Chair and Executive Committee. Acting with the authority granted below, the CEO and President may not perform, allow, or cause to be performed any act which is unlawful or insufficient to meet commonly accepted business and professional ethics for the “prudent person” test in violation of funding source requirements or regulatory bodies.

  • Works with the Board of Directors and other executives to establish short-term objectives and long-range goals, and related plans and policies.
  • Presents regular reports on the status of MBFC’s operations to the Board and staff.
  • Proactively communicates to the Board awareness of special events, relevant trends, and material, external and internal changes in the assumptions upon which Board decisions and policies are established.
  • Submits required monitoring data in a timely, accurate, and understandable fashion, directly addressing provisions of the Board policies and objectives being monitored.
  • Presents relevant internal and external points of view, identifies issues and options, in a clear and concise format as needed for fully informed Board choices.
  • Recruits for nomination, on-boards, and orients new Board Directors for their appropriate terms.
  • Ensures proactive filling of committee assignments.

Member Engagement

  • Actively cultivates current membership relationships resulting in positive engagement.
  • Proactively seeks to grow the membership.

Finance/Budget Operations

  • Oversees MBFC’s financial structure (budgets), ensuring adequate and sound funding for its mission and goals.
  • Reviews the financial results of all operations, comparing them with MBFC’s objectives and taking appropriate measures to correct unsatisfactory performance and results.
  • Ensures MBFC’ compliance with all SBA’s applicable laws, rules, regulations, and standards.
  • Oversees all required audits.
  • Manages the annual SBA reporting process.
  • Identifies and negotiates with other companies regarding actions such as mergers, acquisitions, or joint ventures.
  • Ensures that MBFC’s legal obligations are met.
  • Performs other related duties to benefit the MBFC’s mission.
  • Responsible for real estate properties owned and operated by MCBD LLC. 

Human Resources Operations

  • Manages and directs key staff in the performance of their duties.
  • Evaluates the performance of key staff members.
  • Leverages sound human resources practices that motivate, engage, and retain valuable/talented staff.
  • Evaluates and monitors employee compensation, benefits and health plans.
  • Manages staff volunteer activities.

Technology Operations

  • Provides oversight to technology strategies that serve MBFC’s and customers’ interests effectively.
  • Provides oversight to managing technology vendors.
  • Ensures sound data privacy practices.

Marketing, Branding and Community Development

  • Represents MBFC at NADCO (National Association of Development Companies) and associated professional connections.
  • Serves as the MBFC’s representative to the Board of Directors, members, employees, and customers.
  • Serves as the MBFC’s representative to stakeholders.


  • Education may vary; an advanced degree in business administration, finance, or law is preferred, but not required.

Travel Requirements

  • Occasional state, regional and national travel for presentation, advocacy, and training.

Physical Requirements

  • Prolonged periods working at a desk and working on a computer.
  • Must be able to lift up to 15 pounds at times.
  • Must be able to navigate various departments of MBFC’s physical premises.


How to Apply

Candidates are invited to submit a cover letter and professional resume outlining their interest in the position. Candidates are encouraged to provide specific evidence for their qualification for the position in materials submitted. Include any boards served on with dates and current contact person(s). Required are three references that can speak to the candidate’s professional background, character and profile. Supply references full name, phone number(s) and email.

Candidates submit their materials to MBFC by email at


  1. Applications and cover letters submitted to search committee. Open period June 1-16, 2023.
  2. Candidate materials reviewed by search committee between June 19-30, 2023.
  3. First round of interviews July 10 -21, 2023.
    1. In person at MBFC office.
    2. Interview with Search Committee.
    3. Candidates pay for their own travel expenses.
  4. Second round of interviews July 24-31, 2023.
    1. In person at MBFC office.
    2. Candidates will make a presentation to Search Committee. Topic to be assigned.
    3. Candidates will meet with staff.
    4. Candidates’ travel expenses will be paid by MBFC.
  5. August/September – Board review and approval of final candidate.
  6. October start date.

Candidate questions can be sent to – Dr. Scott Morrell, Rebar Leadership. or 952-288-4253.


Minnesota Business Finance Corporation (MBFC) is a private not-for-profit 501 (c)(3) organization licensed by the U.S. Small Business Administration (SBA) as a certified development company (CDC).

History & About the Company

MBFC was created in 1983 as Opportunities Minnesota Inc. (OMNI), which was then a division of the Minnesota Department of Trade and Economic Development. Through the enactment of state legislation in 1993, OMNI became a quasi-public agency. In 1996, OMNI was privatized and renamed the Minnesota Business Finance Corporation (MBFC). In 2022, Prairieland EDC in Slayton, MN merged with MBFC, making Slayton the fifth MBFC office in the region. With offices also in St. Cloud, Excelsior, and Detroit Lakes, MN, and West Fargo, ND, MBFC serves the entire states of Minnesota and North Dakota as well as western Wisconsin, southeast South Dakota, and counties in northwest Iowa.

As an SBA-licensed CDC, MBFC is responsible for administering and delivering the SBA 504 loan program and financial business assistance, meeting all federal guidelines and provisions.  MBFC competes with other licensed CDCs in Minnesota and bordering states. MBFC is recognized as the premier operating CDC in the state, with a national reputation as a leader amongst its peers.  As a 501(c)(3) private non-profit corporation, its scope and services are not limited to operation of the SBA 504 loan program.  MBFC may choose to provide other services and engage in programming that meets its charter as a non-profit organization.

Currently, MBFC services an SBA 504 loan portfolio of more than 1,000 loans for over $430 million.

MBFC has a staff of 17 highly dedicated, proficient, and customer-servicing professionals. MBFC is governed by a Board of Directors with representation from its Members.  In addition to the Board and Staff, it also has a formal group of approximately 75 members that serve as a supporting resource and referral network.


To be the premier CDC in the Upper Midwest working to foster business development and job creation and retention.