Briese Iron Works, Inc.
Briese Iron Works, Inc. is a fabricated structural metal manufacturer located in Rochester, Minnesota. The company financed real estate or equipment through an SBA 504 loan of $2,736,000 approved on November 4, 2024, with Peoples State Bank of Plainview as the lending bank and Southeastern Minnesota 504 Development Corporation as the certified development company.
SBA 504 loan, approved Nov 4, 2024
$2,736,000 SBA portionCDC: Southeastern Minnesota 504 Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,736,000
- Bank portion
- $3,590,000
- Estimated project size
- $7,028,889 (estimated)
- Estimated owner equity
- $702,889 (estimated, about 10% of the project)
- Bank lender
- Peoples State Bank of Plainview, Plainview, MN
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- November 4, 2049 (estimated, approval date plus term)
- First disbursement
- Apr 15, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 20
- Business type
- Individual
- NAICS
- 332312, Fabricated Structural Metal Manufacturing
- Project location
- Olmsted County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-1
- Collateral
- Yes
Estimated share of project by source
Bank 51% SBA (CDC) 39% Owner 10%
- Larger than 83% of expansion loans in Fabricated Structural Metal Manufacturing on this site.
- Average expansion loan in Fabricated Structural Metal Manufacturing: $1,964,167.
- Average expansion loan in Minnesota: $2,136,981.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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