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Midwest Business Finance Corporation

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Saint Cloud, MN
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.

06/04/2026

Celebrating Veteran Entrepreneurship! MBFC is honored to present a $3,000 MBFC VetLoan Advantage Rebate to Mark Kaufman, RM Golf Carts - Ramsey, 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 $245,000 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.

Mark Kaufman, owner of RM Golf Carts, Inc. partnered with MBFC’s Terry Stein and Allen Snegosky, Sherburne State Bank, to secure a SBA 504 loan for the purchase of their building and renovations for their existing business, RM Golf Carts, Inc. in Ramsey, MN.

RM Golf Carts sells, services, and rents golf carts. They specialize in new, refurbished, custom, and used golf carts. Golf carts are not just for golfers anymore as they're becoming very popular with cabin owners and seniors. Golf carts make any public event more accessible, they're perfect for picking up groups of friends, neighbors, kids or grandchildren. The business is open Monday - Friday from 8am to 5pm and open Saturday from 8am to 3pm.

Mark Kaufman is an Army veteran who was stationed in Germany in 1982. He served on active duty for approximately three years as a tank systems mechanic, earning numerous awards for his service.

Thank you, Mark for your service 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: Terry Stein, VP - MBFC & Mark Kaufman, RM Golf Carts & Nick Kaufman, RM Golf Carts)

06/03/2026

Supporting Small Business Through Economic Development!

Midwest Business Finance Corporation (MBFC) recently awarded a $5,000.00 grant to the South Dakota Small Business Development Center (USD Beacom School of Business).

The South Dakota Small Business Development Center is a part of a nationwide network to help small businesses from start up to growth. They offer consulting services to their clients including start up counseling, business planning, market research, marketing, small business financing programs, financing analysis, cash flow and management, business expansion and small business information.

Consulting services are professional, confidential, and at no cost to small businesses. The mission of the South Dakota Small Business Development center is to be an advisor for South Dakota businesses to start or grow by assisting with business planning, operation improvement, and product or market development.

The SD SBDC is fully accredited and equipped to help the small businesses of South Dakota. Their offices can be located in Sioux Falls, Rapid City, Aberdeen, Watertown, Pierre, and Yankton, SD.

Midwest Business Finance Corporation appreciates the partnership with the South Dakota SBDC and their important guidance and resources given to small businesses!

Pictured: Julie Dahlhoff, Vice President - MBFC, Daniel Cook, Business Consultant - SD SBDC, Mark Slade, State Director - SD SBDC, and Nadene Kruize, President & CEO - MBFC Supporting Small Business Through Economic Development!

06/02/2026

Supporting Small Business Through Economic Development!

Midwest Business Finance Corporation (MBFC) recently awarded a $5,000.00 grant to the Southwest Small Business Development Center, hosted at Southwest Minnesota State University in Marshall, MN. The SBDC serves 18 counties in Southwest MN, including Big Stone, Chippewa, Cottonwood, Jackson, Kandiyohi, Lac Qui Parle, Lincoln, Lyon, McLeod, Meeker, Murray, Nobles, Pipestone, Redwood, Renville, Rock, Swift, and Yellow Medicine.

The Southwest SBDC is dedicated to assisting individuals and businesses in starting, growing, and succeeding providing services such as consulting, training, assistance with financial projections, business plans, marketing, and other resources at no cost to the client. In 2025, they supported 458 clients through 3,571 hours of one-on-one counseling. Additionally, they assisted in establishing 38 new businesses and helped secure $18.6 million in capital. This grant helps to enable the Southwest SBDC to continue to offer vital one-on-one professional support for their clients!

Midwest Business Finance Corporation appreciates the partnership with the Southwest SBDC and their important guidance and resources given to small businesses!

Pictured: Nadene Kruize, President & CEO - MBFC, Christine Fischer, Regional Director - Southwest SBDC, Julie Dahlhoff, Vice President - MBFC

06/01/2026

Supporting Small Business Through Economic Development!

Midwest Business Finance Corporation (MBFC) recently awarded a $5,000.00 grant to the ND Small Business Development Centers - Grand Forks SBDC. The Grand Forks SBDC primarily serves the Northeast North Dakota region.

The ND Small Business Development Centers serves entrepreneurs and small business owners, including both startups and existing businesses to provide services such as consulting, training, assistance with financial projections, business plans, marketing, and other resources at no cost to the client. This grant helps in supporting the shared mission of helping small businesses access the capital and expertise they need to succeed!

Midwest Business Finance Corporation appreciates the partnership with the Grand Forks SBDC and their important guidance and resources given to small businesses!

05/15/2026

Supporting Small Business Through Economic Development!

Midwest Business Finance Corporation (MBFC) recently awarded a $5,000.00 grant to The Northspan Group located in Duluth, MN. Northspan serves the geographic area of Aitkin, Carlton, Cook, Itasca, Koochiching, Lake and St. Louis counties in MN and is a community and economic development consulting firm focused on building connections, strengthening capacity and unlocking access to capital. As full-service, contracted consultants, they bring a broad range of expertise to complex challenges. Their expertise lies in forging strong relationships, facilitating impactful conversations, and sparking innovative insights and actions that move projects from concept to completion.

This grant supports Northspan's Non-Traditional Lender's Forum, which aids in raising awareness of lending sources and programs available in the Northland . This support strengthens our shared mission of helping small businesses access the capital and expertise they need to succeed!

Midwest Business Finance Corporation appreciates the partnership with The Northspan Group and resources given to small businesses!

Pictured: Elissa Hansen, President & CEO - Northspan & Terry Stein, Vice President - MBFC

05/13/2026

Supporting Small Business Through Economic Development!
MBFC recently awarded a $5,000.00 grant to the Northland Small Business Development Center located in Duluth, MN. The Northland SBDC serves the Minnesota counties of Aitkin, Carlton, Itasca, St. Louis, Lake, Cook, and Koochiching.

The Northland MN SBDC serves entrepreneurs and small business owners, including both startups and existing businesses to provide services such as consulting, training, assistance with financial projections, business plans, marketing, and other resources at no cost to the client. This grant helps in supporting the shared mission of helping small businesses access the capital and expertise they need to succeed!

Midwest Business Finance Corporation appreciates the partnership with the Northland MN Small Business Development Center and their important guidance and resources given to small businesses!

Pictured: Nadene Kruize, President & CEO - MBFC, Jennifer Eaton, Program Coordinator - Northland SBDC, & Curt Walczak, Business Consultant, Northland SBDC

05/11/2026

Supporting Small Business Through Economic Development!
MBFC, SBA 504 Lending! recently awarded a $5,000.00 grant to the West Central MN SBDC located in Moorhead, MN. The West Central SBDC serves the Minnesota counties of Clay, Becker, Otter Tail, Wilkin, Douglas, Grant, Pope, Stevens, and Traverse.

The West Central MN SBDC serves entrepreneurs and small business owners, including both startups and existing businesses across a wide range of industries. Their services place a strong emphasis on supporting underserved populations, including rural businesses, women, veterans, BIPOC entrepreneurs, individuals with disabilities, and LGBTQIA+ business owners. In the past year alone, 458 unique clients received assistance, with 397 representing underserved entrepreneurs.

This grant supports advising, training, and capital access assistance for entrepreneurs and small business owners across the West Central MN region at no cost to the client. This support strengthens our shared mission of helping small businesses access the capital and expertise they need to succeed!

Midwest Business Finance Corporation appreciates the partnership with the West Central MN Small Business Development Center and their important guidance and resources given to small businesses!

Pictured: Michael Stearns, Vice President - MBFC & Ian Carlstrom, MBA, Regional Director - West Central MN SBDC

05/08/2026

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
5.95% - STANDARD 504 PROJECT
5.95% - 504 REFINANCE PROJECT
5.71% - MANUFACTURING PROJECT

20 Year Rates
6.01% - STANDARD 504 PROJECT
6.01% - 504 REFINANCE PROJECT
5.76% - MANUFACTURING PROJECT

10 Year Rates
5.87% - STANDARD 504 PROJECT
5.88% - 504 REFINANCE PROJECT
5.58% - MANUFACTURING PROJECT

05/07/2026

Supporting Small Business Through Economic Development! MBFC Awards Gift to Wisconsin UW-Superior Small Business Development Center!

Midwest Business Finance Corporation (MBFC) recently awarded a $5,000.00 gift to the Wisconsin UW - Superior Small Business Development Center (SBDC) located in Superior, WI. The UW - Superior SBDC serves the Wisconsin counties of Ashland, Bayfield, Burnett, Douglas, Iron, Price, Sawyer, and Washburn. The SBDC offers consulting, education, referrals, and sophisticated tools and resources, whether a small business is just getting started or looking for ways to improve their business all at no cost to the client.

This gift allows the SBDC to allocate resources where they are most needed, and enables the SBDC to continue to provide small business technical assistance while supporting the staff to meet the demand of the small business community.

Midwest Business Finance Corporation appreciates the partnership with the Wisconsin UW-Superior Small Business Development Center and their important guidance and resources given to small businesses!

Pictured: Nadene Kruize, Pres. & CEO-MBFC & MIke Hill, Business Consultant-UW-Superior SBDC

05/04/2026

Supporting Small Business Through Economic Development!

MBFC, SBA 504 Lending! recently awarded a $5,000.00 grant to the ND Small Business Development Centers - Southeast located in Fargo, ND. The Southeast Center serves the counties of Barnes, Cass, Dickey, Foster, Griggs, LaMoure, Ransom, Richland, Sargent, Stutsman, Steele, and Traill in North Dakota. In 2025, the Southeast Center's impacts included 489 clients advised, 35 new businesses created, and 1,139 jobs supported!

The ND SBDC is the catalyst for business development and growth. Their team of credentialed advisors serves small business owners and entrepreneurs across the state of ND, providing expertise, insights, and connecting and leveraging resources to ensure client success, resulting in economic impacts that strengthen local communities at no cost to the small business owner.

Midwest Business Finance Corporation appreciates the partnership with the ND Small Business Development Center - Southeast and their important guidance and resources given to small businesses!

Pictured: Michael Stearns, Vice President - MBFC & Paul Smith, Center Director - ND SBDC - Southeast

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

http://www.mbfc.org/

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