Midwest Business Finance Corporation

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Midwest Business Finance Corporation MBFC is a nonprofit, SBA-licensed certified development company that provides loans to qualifying small businesses throughout the state of Minnesota.

Minnesota Business Finance Corporation (MBFC) is a private not-for-profit 501 (c)(3) organization licensed by the U.S. Small Business Administration as a certified development company (CDC). Our CDC 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, the organization became a quasi-public agency. In 1996, it was privatized and renamed the Minnesota Business Finance Corporation (MBFC). With offices in St. Cloud, Minneapolis and Bemidji, we serve the entire state of Minnesota, border to border. Plus, we’ll travel to YOU for all of your lending needs, no matter what part of Minnesota you’re in. We handle all SBA approval, closing and loan servicing. Learn how our step-by-step lending process can help you get the small business funding you need.

Celebrating Veteran Entrepreneurship! MBFC, SBA 504 Lending! is honored to present a $3,000 MBFC VetLoan Advantage Rebat...
10/26/2026

Celebrating Veteran Entrepreneurship! MBFC, SBA 504 Lending! is honored to present a $3,000 MBFC VetLoan Advantage Rebate to Brad Huseby, Road Runner Auto Tech - Kindred, ND!

This rebate reflects Midwest Business Finance Corporation’s (MBFC) long‑standing and voluntary commitment to the NADCO VetLoan Advantage program, supporting veteran‑owned businesses since 2014. Unlike most SBA 504 lenders, MBFC is one of the very few Certified Development Companies that actively participate in this program. To date, MBFC has returned more than $265,000 of its own capital directly to veteran‑owned small businesses through VetLoan rebates — a meaningful financial commitment that goes well beyond standard SBA lending practices and serves as a tangible tribute to the service and dedication of our nation’s military members.

Road Runner Auto Tech, an auto repair business is owned by Brad Huseby, Brandon Huseby, and Parker Stone and is located at 41 5th Ave S, Kindred, ND. The owners of Road Runner Auto Tech partnered with MBFC’s Michael Stearns and Nicholas Card, Bell Bank to secure a SBA 504 loan for the business acquisition of the real estate and equipment for the business.

Brad Huseby served in the North Dakota National Guard from 1987-1993. During that time, he mainly served in routine duties within the State of North Dakota. Additionally, he was deployed to Honduras for a period of time.

Thank you for your service, Brad and congratulations on this exciting new chapter!

(Pictured: Mike Stearns, VP - MBFC & Brad Huseby, Road Runner Auto Tech)

Celebrating Veteran Entrepreneurship! MBFC is honored to present a $3,000 MBFC VetLoan Advantage Rebate to Chad Brink, B...
10/02/2026

Celebrating Veteran Entrepreneurship! MBFC is honored to present a $3,000 MBFC VetLoan Advantage Rebate to Chad Brink, Big Bore Barbecue Company - Monticello, MN!

This rebate reflects Midwest Business Finance Corporation’s (MBFC) long‑standing and voluntary commitment to the NADCO VetLoan Advantage program, supporting veteran‑owned businesses since 2014. Unlike most SBA 504 lenders, MBFC is one of the very few Certified Development Companies that actively participate in this program. To date, MBFC has returned more than $255,000 of its own capital directly to veteran‑owned small businesses through VetLoan rebates — a meaningful financial commitment that goes well beyond standard SBA lending practices and serves as a tangible tribute to the service and dedication of our nation’s military members.

Chad and Jill Brink, majority owners of big Bore barbecue Company partnered with MBFC’s Terry Stein and Brian Williams, North Star Bank to secure a SBA 504 loan for the purchase of the real estate, construction and equipment purchase for the restaurant in Monticello, MN.

Big Bore Barbecue Company is located on 7th St. E. in Monticello, MN and located directly north of Highway 94. It's designed to provide a more streamlined process offering core barbeque items through either an order, pick it up at the drive thru option or delivered table service at the restaurant option as well.

Chad Brink served in the Minnesota Army National Guard Redwood Falls, MN from 1988 to 1996. He first enlisted into the MN Army National Guard in September of 1988 and attended Basic Training and AIT Training at Ft Dix, NJ in the fall of 1989 following his high school graduation. He was a 94 Bravo (Food Service Specialist) and was an honor graduate from that program. Upon graduation he returned home and trained with the same unit. When he joined, he was attached to the 135th Infantry Regiment within the 34th Red Bull Division. He volunteered during the Desert Shield build up and was on active duty for 30+ days. He returned home as things quickly de-escalated in the region. He held the rank of E4 Specialist when he was honorably discharged in 1996.

Thank you for your service, Chad and congratulations on this exciting new chapter!

For additional information about benefits for veteran business owners, contact your MBFC Business Development Officer today by visiting our website at www.mbfc.org.

(Pictured: Chad Brink, President - Big Bore Barbecue Company & Terry Stein, VP - MBFC)

🏆 12 Years. One Mission. One Incredible Team.MBFC, SBA 504 Lending! is honored to be recognized as the 2026 SBA Minnesot...
10/02/2026

🏆 12 Years. One Mission. One Incredible Team.

MBFC, SBA 504 Lending! is honored to be recognized as the 2026 SBA Minnesota Top CDC based on SBA 504 loan volume, marking our 12th consecutive year earning this distinction.

Presented by Timothy (Tim) Green, District Director of the U.S. Small Business Administration's Minnesota District Office, this award reflects the dedication of our team, the trust of our lending partners, and the success of the small businesses we serve every day.

Thank you to our lending partners, borrowers, referral sources, Board of Directors, and the SBA for helping make this achievement possible.

We're proud of what we've accomplished together and look forward to helping even more businesses grow, create jobs, and strengthen communities in the years ahead.

(Pictured: Terry Stein, Joe Kammermeier, Crystal Hegland, Sarah Borgman, Julie Moline, Katy Sly, Nadene Kruize, Timothy (Tim) Green)

🎊 Congratulations to Kevin Fitzpatrick, MBA of Sentry Bank, the recipient of MBFC, SBA 504 Lending! Door Prize Giveaway ...
10/02/2026

🎊 Congratulations to Kevin Fitzpatrick, MBA of Sentry Bank, the recipient of MBFC, SBA 504 Lending! Door Prize Giveaway at the 2026 MN Small Business Lenders Conference!

As a Presenting Sponsor and Exhibitor at the 2026 MN Small Business Lenders Conference, MBFC, SBA 504 Lending! enjoyed connecting with lenders from across Minnesota. Thank you to everyone who stopped by our booth, and thank you to the Minnesota Bankers Association and BankIn Minnesota for another outstanding event!



(Pictured: Kevin Fitzpatrick, MBA - Sentry Bank & Joe Kammermeier - MBFC)

NOTE - Decreased Manufacturing Rate - NEW in FY2026! These are the NEW rates applicable to any new SBA 504 approval in F...
08/10/2026

NOTE - Decreased Manufacturing Rate - NEW in FY2026!

These are the NEW rates applicable to any new SBA 504 approval in FY2026 with the decreased borrower fee that's built into the overall effective rate.

25 Year Rates
6.27% - STANDARD 504 PROJECT
6.27% - 504 REFINANCE PROJECT
6.03% - MANUFACTURING PROJECT

20 Year Rates
6.27% - STANDARD 504 PROJECT
6.27% - 504 REFINANCE PROJECT
6.02% - MANUFACTURING PROJECT

10 Year Rates
6.20% - STANDARD 504 PROJECT
6.20% - 504 REFINANCE PROJECT
5.90% - MANUFACTURING PROJECT

Celebrating Veteran Entrepreneurship! MBFC is honored to present a $3,000 MBFC VetLoan Advantage Rebate to David Shilo, ...
07/20/2026

Celebrating Veteran Entrepreneurship! MBFC is honored to present a $3,000 MBFC VetLoan Advantage Rebate to David Shilo, Heavenly Escapes Resort - Miltona, MN!

This rebate reflects Midwest Business Finance Corporation’s (MBFC) long standing and voluntary commitment to the NADCO VetLoan Advantage program, supporting veteran owned businesses since 2014. Unlike most SBA 504 lenders, MBFC is one of the very few Certified Development Companies that actively participate in this program. To date, MBFC has returned more than $250,000 of its own capital directly to veteran owned small businesses through VetLoan rebates — a meaningful financial commitment that goes well beyond standard SBA lending practices and serves as a tangible tribute to the service and dedication of our nation’s military members.

David and Lisa Shilo, owners of Heavenly Escapes Resort, LLC partnered with MBFC’s Terry Stein and Mark Andersen, Northwoods Bank to secure a SBA 504 loan for the purchase of the resort in Miltona, MN.

Heavenly Escapes Resort is located on Lake Miltona near Alexandria, MN. This lake is a premier fishing destination, offering something for every skill level. This family-owned resort offers lakeside cabins, lodge rooms and a welcoming atmosphere designed for rest, connection and memorable stays!

David Shilo enlisted in the United States Marine Corps in 1977 through the Delayed Entry Program and graduated from high school in 1978. After graduation, he attended recruit training at Marine Corps Recruit Depot Parris Island, South Carolina, where he successfully completed boot camp. Following boot camp, he completed Military Occupational Specialty (MOS) training in Operations and Intelligence. Upon graduation, he was given a choice of duty stations and was assigned to Marine Corps Air Station Kaneohe Bay, Hawaii, where he served with Marine Fighter Attack Squadron VMFA-212. The primary mission of VMFA-212 was to maintain a high state of readiness for rapid deployment anywhere in the world on short notice. During his service with the squadron, he deployed to South Korea, Japan, the Philippine Islands, and several military installations along the West Coast of the United States. His duties included maintaining intelligence reports, compiling and safeguarding classified information, and ensuring commanding officers were kept current through Top Secret intelligence briefings. These responsibilities required accuracy, attention to detail, and the ability to handle sensitive information while supporting the operational readiness of the squadron

Thank you for your service, David and congratulations on this exciting new chapter!

(Pictured: Mark Andersen, EVP - Northwoods Bank, Lisa and David Shilo - Heavenly Escapes Resort & Terry Stein, VP - MBFC)

Supporting Small Business Through Economic Development! Midwest Business Finance Corporation (MBFC) recently awarded a ...
07/15/2026

Supporting Small Business Through Economic Development!

Midwest Business Finance Corporation (MBFC) recently awarded a $5,000.00 gift to the UW-Eau Claire Small Business Development Center located in Eau Claire, Wisconsin. The SBDC at UW-Eau Claire helps entrepreneurs succeed at any stage. They offer no-cost, confidential consulting and business education across a wide region, primarily serving Barron, Chippewa, Clark, Dunn, Eau Claire, Pepin, Rusk and Taylor counties.

This gift will assist in expanding paid, hands-on learning opportunities for students while increasing no-cost access to critical financial consulting services for small businesses across Wisconsin. The UW-Eau Claire SBDC operates the statewide Capital Access Clinic, a unique program that pairs talented student consultants with entrepreneurs seeking to start, grow, and finance their businesses. In 2025, the program advised 597 Wisconsin entrepreneurs, supported 42 business starts, helped create 279 jobs, and assisted entrepreneurs in securing more than $30.4 million in capital through loans, grants, and owner investments.

Midwest Business Finance Corporation appreciates the partnership with the UW-Eau Claire SBDC and their important guidance and resources given to small businesses!

Pictured: Katy Sly, Vice President-MBFC, Harlie Juedes, Director UW-Eau Claire SBDC, Casey Schumacher, Outreach Program Manager UW-Eau Claire SBDC, Max Filipczak, Admin Student Consultant and Logan Govek, Accounting & Finance Student Consultant

NOTE - Decreased Manufacturing Rate - NEW in FY2026! These are the NEW rates applicable to any new SBA 504 approval in F...
07/10/2026

NOTE - Decreased Manufacturing Rate - NEW in FY2026!

These are the NEW rates applicable to any new SBA 504 approval in FY2026 with the decreased borrower fee that's built into the overall effective rate.

25 Year Rates
6.17% - STANDARD 504 PROJECT
6.18% - 504 REFINANCE PROJECT
5.93% - MANUFACTURING PROJECT

20 Year Rates
6.20% - STANDARD 504 PROJECT
6.21% - 504 REFINANCE PROJECT
5.95% - MANUFACTURING PROJECT

10 Year Rates
6.20% - STANDARD 504 PROJECT
6.21% - 504 REFINANCE PROJECT
5.90% - MANUFACTURING PROJECT

Celebrating Veteran Entrepreneurship! MBFC is honored to present a $3,000 MBFC VetLoan Advantage Rebate to Makayla Norde...
07/08/2026

Celebrating Veteran Entrepreneurship! MBFC is honored to present a $3,000 MBFC VetLoan Advantage Rebate to Makayla Nordean, Kickstart Preschool, LLC - Two Harbors, MN!

This rebate reflects Midwest Business Finance Corporation’s (MBFC) long standing and voluntary commitment to the NADCO VetLoan Advantage program, supporting veteran owned businesses since 2014. Unlike most SBA 504 lenders, MBFC is one of the very few Certified Development Companies that actively participate in this program. To date, MBFC has returned more than $250,000 of its own capital directly to veteran owned small businesses through VetLoan rebates — a meaningful financial commitment that goes well beyond standard SBA lending practices and serves as a tangible tribute to the service and dedication of our nation’s military members.

Makayla Nordean, owner of Kickstart Preschool, LLC partnered with MBFC’s Terry Stein and Kurt Thompson, Northeast Entrepreneur Fund, to secure a SBA 504 loan for the purchase of her building and equipment for the existing business, Kickstart Preschool in Two Harbors, MN.

Kickstart Preschool's mission is to provide the highest quality preschool option for parents in the Two Harbors area. Their programming includes childcare for infants, toddlers, and preschoolers. Kickstart Preschool is unique in that it's the only preschool program in the Two Harbors area licensed as a rule 3 childcare center. They offer a longer and more complete preschool experience for children.

Makayla Nordean is in the Air National Guard and is part of the 148th Fighter Wing. She is an Admin Specialist. Makayla has been deployed overseas to the United Arab Emirates and Saudi Arabia.
Thank you for your service, Makayla and congratulations on this exciting new chapter!

(Pictured: Terry Stein, VP - MBFC & Makayla Nordean, Kickstart Preschool, LLC)

Supporting Small Business Through Economic Development! Midwest Business Finance Corporation (MBFC) recently awarded a ...
06/17/2026

Supporting Small Business Through Economic Development! Midwest Business Finance Corporation (MBFC) recently awarded a $3,000 grant to the Housing and Redevelopment Authority/Economic Development Authority (HRA-EDA) of Chisago County, Minnesota.

The Chisago County HRA-EDA plays a vital role in supporting local economic growth by providing a wide range of resources to both public and private sector partners. Their work includes securing and administering local, state, and federal funding, assisting with business park development, and supporting tax increment financing, tax abatement, and other business incentive programs.

In addition, the HRA-EDA helps new businesses establish operations in the county and supports existing businesses with expansion efforts. Their initiatives also focus on housing rehabilitation, senior housing development, and strengthening the overall commercial and industrial tax base—all while promoting Chisago County as a destination for new business opportunities.

MBFC values its strong partnership with the Chisago County HRA-EDA and appreciates the meaningful impact these resources bring to the Chisago County area.

Pictured: Nancy Hoffman, Exec. Director-Chisago County HRA-EDA & Terry Stein, Vice President-MBFC

Address

616 Roosevelt Road, Ste 200
Saint Cloud, MN
56301

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+13202585000

Website

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