The Morrison County (Minn.) Rural Development Finance Authority earlier this month presented Larson Boats president Al Kuebelbeck with a check for $500,000 as a loan for the Triumph Boats expansion.
As the funds are paid back to the authority they will be used to assist other businesses in Morrison County.
“I especially appreciate the efforts of Carol Anderson at Morrison Community Development, the community of Little Falls and other organizations who partnered with us to provide additional funding to work with Larson Boats through these difficult economic times,” Kuebelbeck said in a statement. “The state of Minnesota/Morrison County Rural Development Finance Authority funding assisted us to move the Triumph Boat Company from North Carolina to the Little Falls facility.”
Early in 2010, five lenders united to assist Larson Boats in its effort to keep about 170 jobs in Little Falls. Since that time, Larson Boats has continued efforts to expand.
“We are very pleased to see Larson Boats investing in our community,” Anderson, executive director of Community Development of Morrison County, said in a statement.