The President and Chief Executive Officer provides vision and leadership for all aspects of MBFC’s operations with an emphasis on short-term and long-term goals, development, growth of the business in its market position, and ensures the organization maintains thriving culture.
Essential Qualifications, Skills and Experience
Demonstrates exceptional written and oral communication skills for a variety of internal and external audiences.
Has at least 10 years of managerial experience leading team(s) toward a successful business outcome in the financial industry or related field.
Has a background and expertise in one or more of the following areas: internal controls, financial risk management, commercial lending, legal issues related to commercial lending, corporate governance, or economic, community or workforce development.
Specific knowledge of and experience in SBA 504 and other loan/economic development programs is preferred.
Exhibits excellent leadership, managerial and financial knowledge, skill, and ability.
Demonstrates a hunger to equip highly capable staff to achieve business operational excellence.
Displays an executive presence that is both confident and humble.
Inspires trust with the Board of Directors and trust with employees.
Possesses the skill to collaborate and to know when to be decisive.
Demonstrates effectiveness with cross-generational management practices and approaches for changing workforce.
Stimulates a healthy organizational culture that can pivot and be agile in rapidly changing work environments.
Articulates a clear and concise vision for MBFC that has sound strategy, tactics, and measures.
Oversees the ongoing operations of MBFC.
Manages and directs MBFC toward its primary goals and objectives.
Oversees employment decisions at the executive level.
Leads a team of executives to consider major decisions including acquisitions, mergers, joint ventures, or large-scale expansions.
Promotes communication and cooperation among business units to create a spirit of unity in the organization.
Interfaces (in-person) with staff, Loan Committees, Board of Directors, Members, and other stakeholders per SBA requirement.
Minnesota Business Finance Corporation (MBFC) is a private not-for-profit 501 (c)(3) organization licensed by the U.S. Small Business Administration (SBA) as a certified development company (CDC).
MBFC 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, OMNI became a quasi-public agency. In 1996, OMNI was privatized and renamed the Minnesota Business Finance Corporation (MBFC). In 2022, Prairieland EDC in Slayton, MN merged with MBFC, making Slayton the fifth MBFC office in the region. With offices also in St. Cloud, Excelsior, and Detroit Lakes, MN, and West Fargo, ND, MBFC serves the entire states of Minnesota and North Dakota as well as western Wisconsin, southeast South Dakota, and counties in northwest Iowa.
As an SBA-licensed CDC, MBFC is responsible for administering and delivering the SBA 504 loan program and financial business assistance, meeting all federal guidelines and provisions. MBFC competes with other licensed CDCs in Minnesota and bordering states. MBFC is recognized as the premier operating CDC in the st...ate, with a national reputation as a leader amongst its peers. As a 501(c)(3) private non-profit corporation, its scope and services are not limited to operation of the SBA 504 loan program. MBFC may choose to provide other services and engage in programming that meets its charter as a non-profit organization.
Currently, MBFC services an SBA 504 loan portfolio of more than 1,000 loans for over $430 million.
MBFC has a staff of 17 highly dedicated, proficient, and customer-servicing professionals. MBFC is governed by a Board of Directors with representation from its Members. In addition to the Board and Staff, it also has a formal group of approximately 75 members that serve as a supporting resource and referral network.
To be the premier CDC in the Upper Midwest working to foster business development and job creation and retention.