GF Loan Program Ready for Launch

GF Loan Program Ready for Launch Click to Enlarge

Grand Forks is ready to launch a new start-up loan program for small entrepreneurs. The goal is to provide seed money and capital for innovative business ideas. The Grand Forks J-D-A and Growth Fund would set aside 100-thousand dollars annually for three-years for loans that range between five and 20-thousand dollars.

Brandon Baumbach of the Grand Forks Regional Economic Development Corporation says the program includes a 50-percent match by the Bank of North Dakota. Baumbach says all applications would be reviewed by an eight member start-up loan committee.

The North Dakota Industrial Commission has already approved its portion of the program.

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