Two local businesses receive operating loans
To meet increased demand for its products, and to meet more stringent pollution and safety regulations, SpecSys came to the City of Benson and Swift County seeking $150,000 in funding last week.
The company was seeking $100,000 from the Benson Economic Development Authority (EDA) and $50,000 from Swift County’s Rural Development Authority (RDA.)
The county board approved the loan at its meeting Tuesday, April 15, with the Benson EDA approving it last Thursday, April 17.
SpecSys has a manufacturing facility in Benson, but also has facilities in Montevideo, New Ulm, Granite Falls, Cloquet, and Redwood Falls.
Earlier in their meeting last Tuesday, the county board had also approved an economic development loan for Ben Honnebrink’s purchase of the former PB&J’s restaurant and bar at the intersection of Minnesota Highways 104 and 9 in Kerkhoven Township.
Honnebrink, who also owns Brink’s Beerjoint & Grill in Swift Falls, was seeking a $40,000 RDA loan from the county at 4 percent interest to be paid back over 10 years. He told the county board that he is buying the building and everything in the former bar and restaurant. The financial package is being put together with funding from Lake Region Bank of Willmar/Sunburg and the Small Business Administration (SBA.)
Honnebrink plans on opening the business by the middle of June. It will be open six days a week with lunches and supper on Fridays and Saturdays. It will open between 3 to 4 p.m. Monday through Thursday with full menu suppers and specials.
Photo: The Gantry Mill at SpecSys.