|
|
|
Loans Awarded in 2005
The
following list includes loans awarded through the Southwest
Minnesota Foundation's (SWMF) Revolving Loan Fund, the Technology
Development Fund, and the USDA Intermediary Re-Lending Program.
Six loans were awarded through these programs, totaling
$449,300.
The
Foundation has expanded its partnership with Prairieland Economic
Development Corporation to assist in administering the SWMF's
loan programs, with the exception of the Micro Enterprise
Loan Program. Prairieland works with loan clients and/or
bankers in the development of applications, review and analysis,
closings and servicing.
The SWMF Loan Programs provide "gap financing" to eligible
businesses. This financing supplements the dollars provided
by financial institutions and investors and strengthens financial
packages. Financing is intended to compliment, not compete,
with traditional financing sources. The SWMF will not participate
in a project that can be solely financed through traditional
sources, and it actively solicits and promotes partnerships
with financial institutions in all projects.
| Recipient / Type of Business |
City |
County |
| Michael Kuske, dba Wright Laser, Inc.
Purchase of new equipment to expand their business of manufacturing of medical devices and electric motors |
Milan |
Chippewa |
Brad Smith, dba United Packaging, Inc.
Purchase of new equipment and for building improvements to expand their crating and wood packaging products business
|
Windom |
Cottonwood |
| Doug and Kristi Deel, dba Last-Deck, Inc.
Start-up of new business that manufactures and sells aluminum decking kits nationwide
|
Jackson |
Jackson |
Donald and Shirley Sanberg, dba Vestas-American Wind Technology, Inc.
Construction of a new office/warehouse building to expand their business of manufacturing and repairing wind turbines worldwide
|
Tyler |
Lincoln |
Northstar Plastics of MN, Inc.
Purchase of equipment to expand their business of constructing pet kennels for installation into pickup trucks
|
Edgerton |
Pipestone |
Jennifer and Scott Shuler, dba J&S One Stop
Start-up of a convenience store and gas station |
Clarkfield |
Yellow
Medicine |
|
6
Loans Totaling $449,300 |
 Back
|
