Finding the Money and Resources
The RRRC provides direct gap financing loans to businesses located within the counties of Grand Forks, Nelson, Pembina, and Walsh in northeastern North Dakota. These programs work in partnership with regional private lending institutions. These programs include the Progress Fund, Red River Revolving Loan Fund, and Community Development Loan Fund. Loan applications are prepared by applicants with assistance from the RRRC staff. Applicants are asked to appear before the RRRC’s Economic Development Committee to present their request and address any outstanding questions. Please contact the RRRC staff if interested in applying for a loan.
Progress Fund and Red River Revolving Loan Fund
The Progress Fund and Red River Revolving Loan Fund are EDA-funded revolving loan fund programs to support gap financing in the region.
Community Development Loan Fund
CDLF is available to businesses located in all cities and counties within the Region (except the City of Bismarck) for economic development infrastructure or to make loans to businesses creating or saving jobs for low and moderate income persons.
- Who/what is eligible: Must be located in a four county region (Grand Forks, Nelson, Pembina and Walsh Counties), For-Profit Businesses, Not-for-Profit Businesses, Cooperatives
- What can funds be used for? Uses include purchase or leasing of real estate, equipment, inventory, working capital
- Rates, Terms, and Limits: Loan limits for primary sector businesses are $15,000-$500,000 and retail businesses are limited to $10,000-$150,000.
State and Federal Resources
- Bank of North Dakota
- ND Commerce Department
- North Dakota Small Business Administration District Office
- USDA Rural Development
Other Business Resources
- Lake Agassiz Regional Development Corporation
- Lewis and Clark Certified Development Company
- Dakota Certified Development Corporation