News & Events
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For changes and new opportunities in the SBA world, we’re here to keep you informed. Be sure to visit this page for frequent updates about events and news both near and far. And if you haven’t signed up yet, be sure to add yourself to our email list, where new rates will be delivered right to your inbox.
UPDATE to CARES Act Section 1112 Payment Subsidies
On February 16, 2021, SBA issued a Procedural Notice (Click here for SBA Procedural Notice 5000-20095) detailing reduced debt relief benefits to 7(a), 504, and Microloan Programs due to insufficiency of funds. SBA has determined that the original $3.5 billion,...
CARES Act Section 1112 Payment Subsidies – Eligibility Based on Loan Approval Date
The Economic Aid Act enacted December 27, 2020 expanded the eligibility of payment subsidies for 7(a) and 504 loans under Section 1112 of the CARES Act. To better assist our lending partners in understanding the expanded eligibility for Section 1112 payment subsides,...
Economic Aid ACT – New COVID19 Relief
With the Economic Aid Act-New COVID Relief, there will be exciting changes coming to the SBA 504 Loan Program! Information is limited at this time and will be forthcoming from SBA. Stay tuned to MBFC as your information source for additional email updates and lender...
VetLoan Rebate for $3,000 Awarded to Sunrise Flour Mill of North Branch, MN
MBFC awarded a VetLoan Advantage Rebate to Darrold & Martha Glanville, owners of Sunrise Flour Mill, located in North Branch, MN. MBFC Board Member, Nancy Hoffman, Executive Director of Chisago County HRA/EDA, presented the check. Sunrise Flour Mill started in...
Urgent Update! Congressional COVID Relief Package
This is preliminary information shared by NADCO, details to follow in coming weeks. Greetings from MBFC, Congress passed a sweeping year-end bill to provide long-delayed coronavirus relief and continued government funding, capping off a months-long fight for...
Awards and Recognition
MBFC finalized an award winning year for SBA 504 loans across our region. Listed below are some of the top highlights. Our Annual Meeting was held online on Wednesday, October 28th. MBFC was recognized by the U.S. SBA Minnesota District Office as the 2020 Top CDC of...
MBFC Awarded SBA 2020 Top CDC in Minnesota
Pictured above: Tom Saehr, President & CEO of MBFC, Nadene Kruize, Senior Vice President of MBFC, and Brian McDonald, District Director of the SBA MN District Office MBFC was presented the award of Top SBA 504 Certified Development Company in Minnesota based on...
Pimushe Resort Awarded $3,000 MBFC VetLoan Advantage Rebate
MBFC is honored to present a $3,000 VetLoan Advantage Rebate to Rachelle Chase of Pimushe Resort located in Bemidji, MN. MBFC is the only CDC in Minnesota to offer a rebate to business owners that are active or retired members of military service. Earlier this year...
MBFC Economic Development Grant Presented to GPS 45:93
MBFC presented a grant to MBFC Member, Nancy Hoffman, and the economic development group GPS45:93. Terry Stein, Vice President - MBFC, presented the check to Hoffman and her associates (pictured below). MBFC is the only Certified Development Company in Minnesota with...