How much funding does Gap Financing provide?

Gap Financing provides Up to $750,000 in funding.

When is the deadline for Gap Financing?

This grant has a rolling deadline or the deadline has not been announced.

Gap Financing

Northeast Entrepreneur Fund Inc

Foundation Rolling (Quarterly) Small Business Grants

Funding Amount

Up to $750,000

Deadline

Rolling / Open

Grant Type

foundation

Overview

Gap Financing

Type: Complementary Loan/Gap Filler

Overview: EFund can complement financial contributions to fill an existing funding gap. Gap financing refers to a loan that covers the "gap" between various sources of funding and the total cost of the project.

Award Amount: Up to $750,000

Eligible Uses:

Commercial real estate projects

Mortgage gap financing

Major renovation projects

Other multi-source capital projects

Why It's Different: EFund has more flexibility than traditional lenders to support projects that require multiple sources of capital. This is ideal for projects that have some funding secured but need additional financing to complete the deal.

How It Works:

Complements other funding sources

Fills gaps in project financing

Works with banks and other lenders

Collaborative approach with other financial institutions

Geographic Scope: Minnesota and Wisconsin (29 counties and 12 Native Nations)

Service Region Includes:

Minnesota: Aitkin, Benton, Carlton, Cass, Cook, Crow Wing, Itasca, Kanabec, Koochiching, Lake, Mille Lacs, Morrison, Pine, Stearns, St. Louis, Todd

Wisconsin: Ashland, Bayfield, Burnett, Douglas, Florence, Forest, Iron, Marinette, Oneida, Price, Sawyer, Vilas, Washburn

Native Nations: Bad River Band of Lake Superior Chippewa, Bois Forte Band of Chippewa, Fond du Lac Band of Lake Superior Chippewa, Forest County Potawatomi, Grand Portage Band of Lake Superior Chippewa, Lac Courte Oreilles Band of Lake Superior Chippewa, Lac du Flambeau Band of Lake Superior Chippewa, Leech Lake Band of Ojibwe, Mille Lacs Band of Ojibwe, Red Cliff Band of Lake Superior Chippewa, Sokaogon Chippewa (Mole Lake), St. Croix Chippewa Indians of Wisconsin

Additional Services: All loans are paired with strategic one-on-one business advising at no additional cost.

Contact Information:

Phone: 218-623-5747

Email: info@efund.org

Main Office: 202 W Superior St, Suite 311, Duluth, MN 55802

Branch Locations: Ashland WI, Duluth MN, Eveleth MN, International Falls MN, Little Falls MN, Superior WI

How to Apply

Application Process

1. Project Assessment: Contact Entrepreneur Fund to discuss your gap financing needs and existing funding sources
2. Documentation Preparation: Gather information about other funding sources and project details
3. Formal Application: Submit gap financing application with project details and funding sources
4. Collaborative Review: EFund works with other lenders and funding sources to structure the deal
5. Guided Process: Client Resource Manager will contact you within two business days
6. Advisory Support: Upon approval, receive strategic business advising at no cost

Required Materials

Specific requirements not detailed on website. Contact EFund directly for comprehensive application documentation.

Contact for Application

Phone: 218-623-5747
Email: info@efund.org
Online Contact Form: Available at efund.org
In-Person: Available by appointment at branch locations

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What Northeast Entrepreneur Fund Inc actually gave

Source: IRS Form 990-PF, 2024

Grants in 2024: 52
Total given: $491K
Median grant: $10K
Range: $5,155–$14K

By dollars: Wisconsin 78%, Florida 7%, Minnesota 7%. Top recipient cities: Superior, WI; Ashland, WI; Rhinelander, WI.
0% of grants with a stated purpose were for general or operating support.
94% of recipients were new grantees, not repeat recipients.