NORTHEAST ENTREPRENEUR FUND INC logo
Foundation Rolling (Quarterly) Small Business Grants
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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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    Focus Areas & Funding Uses

    Fields of Work

    small-businesses

    Categories

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