OABDC Hosts Funding Panel

Sean Williams, Executive Director of the Owatonna Area Business Development Center moderated a business financing panel for the Innovators and Business Owners Connect-Up on Thursday, April 10 at Torey’s Restaurant and Bar in Owatonna.

Panelists included Nate Bastian, Market President of United Prairie Bank in Owatonna, Marcia Haley, Lending Director, Southern Minnesota Initiative Foundation, and Scott Hoeschen, Vice President and Business Development Officer at Amplio Economic Development Corporation.

Topics included what requirements each entity has for prospective borrowers, types of loan packages, timing for seeking loans, types of loans, and trends in the marketplace.

Participants came away with a much clearer picture of when to seek loans and what they need to do in preparation for seeking funding.