Twin Cities-Metro CDC

We’ve all heard it: SBA loans are too much work. The SBA 504 Loan Program doesn’t have to be too much work if you’re working with an experienced lending partner. Here’s what one of our recently funded businesses had to say about applying for an SBA 504 loan: “Terrie Ortloff and Debby Gustafson have been wonderful to work with. I know these SBA loans have a lot of back-end paperwork, and they make it stress-free on my end. I also appreciate the confidence in me and our projects and look forward to more projects in the future.” -Josh Collins Bridgeview Storage St. Joseph, WI Congratulations on another successful project, Josh!

SBA 504 Rates are out for October! Also new in October, the SBA has expanded eligibility criteria for the SBA 504 Refinance Program, with changes effective November 15. Key Program Updates: - Increased Loan-to-Value: Maximum loan-to-value ratio raised from 85% to 90% for refinancing without expansion, including cash out for Eligible Business Expenses (EBE). - Elimination of EBE Cap: The previous 20% cap on EBEs has been removed, offering more flexibility. - Relaxed Government Debt Refinancing: Any savings on proposed payments now qualify as sufficient to meet the substantial benefit test for refinancing government debt (previously required 10% savings). - Expanded Eligibility: “Other secured debt” now qualifies as an EBE in debt refinancing without expansion, allowing for the refinancing of many working capital loans. - Easier to Qualify: Only 75% of the original loan needs to have been used for Eligible Fixed Assets in both 504 refinancing programs (previously 85%). Call a TCM Loan Officer to learn more! Debby Gustafson Sheil Nelson Mike Kinderman Michael Kinninger

Unique Collision and Custom Auto Body Shop is an auto collision, custom paint, restoration, and fiberglass/marine shop. Owner Keith Brune was leasing space in Forest Lake MN but wanted to establish a permanent home for his business where he could grow. When Keith found a suitable home in Wyoming, MN to relocate his business, he turned to TCM and the SBA 504 program for permanent financing. TCM was proud to partner with Robert Morse at MidCountry Bank to provide financing for Keith’s new building. Keith had this to say about the project and loan process: “TCM did awesome. They were informative and helpful throughout the process. Everyone I worked with did an excellent job!” Congratulations to Keith and Unique Collision and Custom Auto Body Shop on your new building!

TCM recently hosted our annual Lender Appreciation Golf Scramble Indian Hills Golf Club in Stillwater. Congratulations to the winning foursome of Justin Betzold, Jonathan Dolphin, Blair Oklobzija, and Sheil Nelson. Thank you to all who attended and have partnered with us recently to bring below-market, fixed asset financing to small businesses in Minnesota and Western Wisconsin. We couldn’t do it without you! 

TCM was proud to receive the 2024 SBA Minnesota District Director Award at this year's Minnesota Small Business Lenders Conference. The District Director Award is given rarely and in recognition of exemplary commitment to Minnesota's small businesses. The 2024 award was given to Twin Cities-Metro CDC in honor of the passing this year of TCM Founder, Bob Heck. Since our founding in 1990, TCM's accomplishments include the following: - Facilitated 2,576 SBA 504 loans to small businesses, injecting $1.4 billion into business expansions. - Enabled projects worth $3.85 billion, significantly bolstering the Minnesota and Western Wisconsin economies. - Directly contributed to the creation of 25,627 jobs and the retention of 22,330 jobs, strengthening our community's workforce. - Allocated over $2.95 million in grants to non-profits dedicated to financial inclusivity in underserved communities. - Sustained a dedicated workforce of 34 individuals over 33 years.

The 25-year SBA 504 rates is down to 5.77% fixed in September! Call a TCM Lender today to start a conversation about financing real estate or equipment. Debby Gustafson Sheil Nelson Mike Kinderman Michael Kinninger www.504lending.com

TCM is proud to be accepting the SBA District Director Award at the Minnesota Small Business Lenders Conference on September 12!

Congrats on 45 years of success, WomenVenture! Happy to be a partner in your important work.

Therapy OPS is a pediatric therapy clinic that offers Occupational, Physical, Speech, and Feeding Therapy as well as Social Skills Groups. Therapy OPS is committed to providing high-quality, family-focused intervention to help those in the community reach their highest potential in an effective, efficient, and compassionate manner. TCM was proud to partner with Rich Bales at 21st Century Bank to provide financing for a new location in Hastings, MN. When asked about working through the SBA 504 loan process with the TCM team, Chris Kuenzli, Therapy OPS Business Manager, had this to say: “The whole team at TCM has been really good to us. You've been part of three separate loan closings for us and you've been professional, accurate and tolerant of our many questions (we're business owners not bankers)! The team has always explained things in a simple way and the communication has been wonderful. TCM has been a valuable ally to our business! Special shoutout to Terrie Ortloff (TCM Closing Officer) for being awesome.” Congratulations to the entire Therapy OPS team on a beautiful new location!

August brings another drop in SBA 504 interest rates. Call a TCM Loan Officer to start a conversation on accessing these great rates! Debby Gustafson 651.302.7234 Sheil Nelson 651.302.7226 Mike Kinderman 651.302.7239 Michael Kinninger 651.302.7240