MINNEAPOLIS – On Tuesday, April 12, 2022, the U.S. Small Business Administration’s Minnesota District Director Brian McDonald will visit Lindar Corporation in Baxter as part of a statewide tour highlighting the local successes of the 504 loan program. During this Certified Development Companies (CDC) Celebration Tour, McDonald will be joined by congressional representatives, local lenders, and local economic development officials.
The SBA’s 504/CDC loan program guarantees long-term financing for the purchase of real estate, equipment, and other fixed assets. In FY21, the 504 program lending in Minnesota reached a historic $448.8 million in loans to support jobs and economic growth, which was an increase of 168 percent over FY20. Lending in the 504 program in Minnesota is up 16 percent so far in FY22 compared to historic levels reached in FY21.
(Minnesota 504 stats for reference – FY20: 277 loans for $167.5 million; FY21: 681 loans for $448.8 million)
Overall, SBA-backed loan programs in Minnesota have seen an increase of 37.2 percent overall from February FY22 compared to February FY21.
Media are invited to join the visit and should RSVP to Sarah Swenty at sarah.swenty@sba.gov.
WHEN: Tuesday, April 12, 2022 – 2:45pm-3:45pm
WHERE: LINDAR Corporation, 7789 Hastings Rd, Baxter, MN 56425
WHO: Brian McDonald, Minnesota District Director, U.S. Small Business Administration (SBA)
Representative Pete Stauber, Minnesota’s 8th Congressional District
Ellen and Tom Haglin , Owners, Lindar Corporation
Tom Saehr, Nadene Kruize, Minnesota Business Finance Corporation (MBFC)
Bruce Kennedy, Riverwood Bank
MEDIA RSVP: To join us, contact Sarah Swenty, for more information by April 11 at noon. sarah.swenty@sba.gov.
DAY OF CONTACT: RSVP is required in advance but for last minute needs, please text Sarah at 202-431-7587.
About the U.S. Small Business Administration: The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov/mn.