WASHINGTON, D.C. – Last week, Sens. Amy Klobuchar and Al Franken (D-Minn.) and Reps. Betty McCollum, Keith Ellison, and Tim Walz (D-Minn.) announced that more than $18 million in loans will go to small businesses throughout Minnesota, helping many of them remain open and creating nearly 100 jobs. The loans, which will be overseen by the Small Business Administration, were made available by the Small Business Jobs Act passed by Congress and signed by President Obama in September.
Nationally, $970 million in loans will be issued by local banks and guaranteed by the Small Business Administration.
“Small businesses are the engines of job creation in Minnesota and across the nation,” said Sen. Klobuchar. “The Small Business Jobs Act is providing funds that will help our small businesses across the state gain access to credit, which is essential to helping spur economic growth and create jobs.”
“While our economy is showing signs of recovery, millions of Americans are still unemployed,” said Sen. Franken. “These loans will allow small businesses all over the state to grow and create good jobs for Minnesotans who badly need them.”
“Once again, Democrats in Congress have taken swift action to save small businesses and jobs, which are especially critical in this economy,” said Rep. McCollum. “Small businesses all across Minnesota will get much needed relief from tight lending standards and high taxes. The federal government’s investment in the small business sector will go a long way in helping jumpstart local economic growth and job creation.”
“American workers and small businesses are the engine of our economy and ensuring their success is critical to building prosperity for Minnesota’s working families,” said Rep. Ellison. “These small business loans are just one more tool to empower entrepreneurs and innovators to grow and put more Minnesotans back to work.”
“The Small Business Jobs Act is helping the private sector move the ball forward on job creation and economic growth,” said Rep. Walz. “I’m pleased to see these SBA loans made to local businesses and I expect that this law will continue to expand private sector lending in the near term through the incentives it provides for small community lenders.”
The details for each loan follow:
1474 Investments, LLC, Vadnais Heights: $275,000 creating 15 jobs
3 Kids and Us LLC, St. Paul Park: $40,000 creating 2 jobs.
Albany Auto Center, Inc, Albany: $150,000.
Anderson's Roso Theatre, Roseau: $230,000 creating 1 job.
Arcon Solutions, Inc, Burnsville: $43,500 creating 1 job.
Bierschenk, Inc, Marshall: $900,000.
Bjerga Feed Stores Inc, Motley: $200,000.
DaRan Inc, Zimmerman: $250,000.
Eggen's Bulk Service, Inc, Milaca: $1,550,000.
Feed Products North Inc, Rosemount: $1,478,000 creating 25 jobs.
Fogarty of Hastings, Inc, Hastings: $200,000.
Genesis Dance Company, LLC, Maple Grove: $30,000 creating 5 jobs.
Grand Portage-Isle Royale Transportation, White Bear Lake: $144,000 creating 2 jobs.
Hanco Corp, Eagan: $1,058,000 creating 2 jobs.
HealthStar Home Health, Inc, Maplewood: $350,000.
Heights Theater Building, Inc, Columbia Heights: $236,000.
Jack Larson Seeds, Inc, Clements: $220,000.
JJN Companies, LLC, Minnetonka: $700,000 creating 12 jobs.
Johnson Fitness Centers, LLC, Princeton: $16,000.
Jutz, Inc, Bemidji: $525,000 creating 1 job.
Kenneth J. Ryan, Goodhue: $30,000.
Krueger Dirtwerx, Inc, Barnum: $60,000.
Lumberjack Lounge, LLC, Cloquet: $276,000.
Morning Star Woodworks, Inc, Cloquet: $357,000.
Musselman Family Chiropractic, New Ulm: $80,000.
Northland Paper Reclamation, Maple Grove: $500,000.
Oak Grove Animal Hospital, Ltd, Oak Grove: $1,134,500 creating 2 jobs.
Peapods, Inc, Saint Paul: $279,000.
RDY Enterprises, Inc, Shakopee: $300,000.
Real Estate Properties, Inc, Blaine: $150,000.
Rock Mamas II, LLC, Eden Prairie: $160,000 creating 6 jobs.
Studio Plus Software, LLC, Cambridge: $752,000 creating 4 jobs.
Synergy Family Physicians, PA, White Bear Lake: $350,000 creating 3 jobs.
TC Pallet, Inc, South St. Paul: $1,200,000 creating 10 jobs.
The Watson Company, Inc, Cambridge: $345,000.
Think-N-Play Learning Center, Esko: $570,000.
Tudor Rose, LLC, Brainerd: $1,800,000.
Wayne's Auto Body of Hastings, Hastings: $327,000 creating 2 jobs.
Wilson Enterprises, Inc, Baudette: $789,600.