Recent Loans

2024 First Quarter Loans: $963,000

  • Asha Beauty, LLC, St. Cloud—Asha Beauty is a boutique in Crossroads Mall.
  • Backroad Meats, Milaca—Backroad Meats is a full-service butcher and meat sales store. They recently added an additional retail location.
  • Bridges of Hope, Brainerd—Bridges of Hope, a service organization, purchased a commercial building in Crosslake for a thrift store.
  • KB Manufacturing Company, Inc., Cold Spring—KB Manufacturing Company purchased United Packaging, Inc. in Crosby.
  • Yenko, Inc., St. Cloud—Yenko is an airport shuttle transportation business.
  • Mogadishu Meat & Grocery, Inc., St. Cloud—Mogadishu Meat & Grocery is a grocery store that also includes clothing, money servicing and electronic shops.
  • Queen of Soul Food, LLC, St. Cloud—Queen of Soul Food will be a future restuarant serving southern-style food.
  • Rainbow Hair Hats, LLC, Verndale—Rainbow Hair Hats are jersey hats that cover media materials and wires used for epilepsy testing.
  • Royalty Care, Inc., St. Cloud—Royalty Care is a home healthcare business.

As a result of these loans, $11.2 million in private financing was leveraged through partnering financial institutions.

2023 Fourth Quarter Loans: $1.04 million

  • SuSu Clothing & Jewelry, LLC, St. Cloud—SuSu Clothing & Jewelry is a clothing and jewelry store.
  • Bridges of Hope, St. Cloud—Bridges of Hope is a nonprofit that is purchasing a building for its thrift store operations.
  • ILT Studios, LLC, St. Cloud—ILT Studios, a startup studio, is launching a training program for transportation entrepreneurs.
  • Senor Elote Y Mas, LLC, Melrose—Senor Elote Y Mas offers Mexican snacks, beverages and street corn.
  • Loscheider Helicopter, Inc., Wadena—Loscheider Helicopter offers aerial firefighting and crop spraying services.
  • The Spot for Drinks and Dining, Belgrade—The Spot for Drinks and Dining is a bar and restaurant.
  • D&E Real Estate, LLC, North Branch—D&E Real Estate will be building a 40-unit assisted living facility in North Branch.
  • Rainbow Wellness Collective, Inc., St. Cloud—Rainbow Wellness Collective is a newly created nonprofit purchasing a building in downtown St. Cloud.
  • Kohen Transportation Service, LLC, St. Cloud—Kohen Transportation Service provides medical transportation services.
  • Seedow Logistics, LLC, St. Joseph—Seedow Logistics provides transportation services. Owner Omardahir Hassan would like to purchase a new truck.
  • More Than Sprouts, LLC, Pine City—More Than Sprouts is a grocery store in Pine City. The loan will assist with purchasing a larger building and additional equipment.

As a result of these loans, $10.14 million in private financing was leveraged through partnering financial institutions.

2023 Third Quarter Loans: $525,125

  • CN Ostego Properties, LLC—CN Ostego Properties will operate an automated car wash in Ostego.
  • Clayon’s Auto Repair, Brainerd—Clayon’s Auto Repair is opening an automotive repair business.
  • Backroad Meats, Milaca—Backroad Meats is building a retail store on Highway 169.
  • Area 56 Dance Studio, St. Cloud—Area 56 Dance Studio is a dance business moving to a permanent space in St. Cloud.
  • Kabirow Logistics, LLC, St. Cloud—Kabirow Logistics is a trucking business owned by Abdimahat Kabirow.
  • Ocean Logistics, LLC, St. Cloud—Ocean Logistics is a trucking business owned by Hassan Nuur.
  • Samatar Wireless, Inc., St. Cloud—Samatar Wireless is a retail cellular business in St. Cloud.
  • Central MN Elite Wrestling, Albany—Central MN Elite Wrestling is launching a nonprofit in Albany.

As a result of these loans, $6.4 million in private financing was leveraged through partnering financial institutions.

2023 Second Quarter Loans: $799,000

  • Four Seasons of Winnie—Four Seasons of Winnie is a resort in Bena.
  • Valley View of Long Prairie—Valley View of Long Prairie is an assisted living facility in Long Prairie.
  • Schultz Family Lumber—Schultz Family Lumber took over ownership of Pete’s Lumber in Bertha.
  • T&C Excavating—T&C Excavating serves Cass County area with excavating services.
  • In the Woods Campground—In the Woods Campground operates a campground near Leech Lake.
  • Anisa Hagi, LLC—Anisa sells affirmation cards, journals and posters.
  • Lemperes Building & Remodel, LLC—Lemperes Building & Remodel, LLC is a residential and commercial contractor.
  • M&T Properties—M&T Properties operates Hillcrest Family Restaurant in Albany.

As a result of these loans, $1.3 million in private financing was leveraged through partnering financial institutions.

2023 First Quarter Loans: $341,550

  • Victory Plus Housing, LLC, St. Cloud—Victory Plus Housing provides safety, security, serenity, and sober transitional housing.
  • No Limit Painting, St. Cloud—No Limit Painting provides painting experiences and classes.
  • Barber Hussle the School, LLC, St. Cloud—Barber Hussle the School is a future barber school in St. Cloud.
  • National Inspection Academy, Pillager—National Inspection Academy will operate a nonprofit technical career school providing technical education in Nondestructive Testing (NDT), Construction Material Testing (CMT) and preparation training for recognized inspection industry technical certifications.
  • DRM Veterinary Group, LLC—DRM Veterinary Group is a veterinary practice in Rice.

As a result of these loans, $1.5 million in private financing was leveraged through partnering financial institutions.

2022 Fourth Quarter Loans: $476,000

  • Anisa Hagi, LLC, St. Cloud—Anisa sells affirmation cards, journals and posters.
  • HH Stables, Princeton—HH Stables is purchasing Gordan Training Center, a boarding and training facility for horses.
  • GroShed, Emily—GroShed builds an indoor hydroponic gardening shed.
  • Karel’s Hardware, Isle—Karel’s Hardware is a hardware store in Isle.
  • Klar’s Cleaning & Restoration, Hinckley—Klar’s Cleaning & Restoration will serve as a ServPro franchise.
  • D.T. & M Property Management Corp., St. Cloud—D.T. & M Property Management is remodeling a future cultural mall.
  • Jules’ Bistro, St. Cloud—Jules’ Bistro is a restaurant in downtown St. Cloud.

As a result of these loans, $2 million in private financing was leveraged through partnering financial institutions.

2022 Third Quarter Loans: $643,225

  • Selvin Merida, Staples—Merida owns a beekeeping business in the Staples area.
  • K & R Custom Meats, Mora—K & R Custom Meats is a meat market located in Mora.
  • Savanna Prairie, Inc., Kimball—Savanna Prairie is an assisted living facility in Kimball.
  • Dalal Logistics, St. Cloud—Dalal Logistics is a transportation business in the St. Cloud area. Mohamed will be purchasing another truck.
  • Mac Delivery, Inc., St. Cloud—Mac Delivery is a transportation business in the St. Cloud area.
  • Cloud Property, LLC, St. Cloud—The owners of this holding company also own Advantage 1 Insurance. They are purchasing the building.
  • Bridge Healing Center, LLC, St. Cloud—Bridge Healing Center is a culturally-specific mental health and addiction services business.
  • Sota Car Wash, LLC, Monticello—Sota Car Wash operates a dual-belt conveyor system car wash in Monticello.
  • DRM Veterinary Group, LLC, Rice—DRM Veterinary Group is expanding its current footprint.
  • Amina Express, LLC, St. Cloud—Amina Express, LLC is an over-the-road trucking company.
  • The Sanctuary, Crosby—The Sanctuary is a seven-room boutique hotel in Crosby.

As a result of these loans, $5.6 million in private financing was leveraged through partnering financial institutions.

2022 Second Quarter Loans: $1.04 Million

  • GroShed, Emily—GroShed builds an indoor hydroponic gardening shed.
  • Cartfull, North Branch—Cartfull is a retail discount store in North Branch.
  • Holdingford Hardware, Holdingford—Headley Hardware was an existing hardware store that has been purchased and renamed Holdingford Hardware.
  • Chevys Pit, St. Cloud—Chevys Pit is purchasing a food trailer to use for catering and pop-up food truck-like stops in the greater St. Cloud area.
  • Little Falls Bowling Center—Little Falls Bowling Center offers 16 lanes of bowling, a full bar and pizza.
  • Rizzy’s on the Lake, LLC, Osakis—Rizzy’s on the Lake is being remodeled to serve as a cabin rental resort on Lake Osakis.
  • Baby’s on Broadway, Little Falls and St. Cloud—Baby’s on Broadway has opened a second location in St. Cloud.
  • Senor Elote Y Mas, LLC, Melrose—Senor Elote Y Mas will open a restaurant in Melrose.
  • Northern Oaks Events, LLC, Sauk Rapids—Northern Oaks Events is an event destination located outside of Sauk Rapids.
  • Powderlodge — Miller Marine, St. Cloud—Miller Marine is being purchased by Powderlodge — Miller Marine.

As a result of these loans, $22.1 million in private financing was leveraged through partnering financial institutions.

2022 First Quarter Loans: $1.2 Million

  • Northern Edge Decor, Pequot Lakes—Northern Edge Decor is a retail home decor store.
  • Backroad Meats, Milaca—Backroad Meats is a butcher shop and meat market.
  • Lam’s Tax Service, St. Cloud—Lam Tax Service is an accounting and tax preparation firm. Read Chuol’s business story.
  • Schneider Industries, LLC, Center City—Schneider Industries is an underground utility and excavation business.
  • Cozy Bay Resort, Nisswa—Cozy Bay Resort, Nisswa is a family-owned resort on Lake Edward in Nisswa.
  • LBT Concrete, Royalton—LBT Concrete is taking over the operation of Southside Sand & Gravel.
  • Minnesota T’s, Brainerd—Minnesota T’s was purchased by long-time employee Cat Hanson.
  • Arroy, St. Cloud—Arroy is a restaurant in the former Sawatdee location in downtown St. Cloud.
  • Higher Works Collaborative, St. Cloud—Higher Works Collaborative is purchasing a four-unit apartment building to be used as a sober house.
  • Greater Northern Capital Fund II—Greater Northern Capital Fund is an early-stage venture capital fund managed by Greater North Labs.

As a result of these loans, $54.2 million in private financing was leveraged through partnering financial institutions.