How much funding does Start Up Grand Forks provide?

Start Up Grand Forks provides Up to $30,000 in funding.

When is the deadline for Start Up Grand Forks?

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

Start Up Grand Forks

GRAND FORKS REGION ECONOMIC DEVELOPMENT

Foundation Grants for Startups Small Business Grants

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Funding Amount

Up to $30,000

Deadline

Rolling / Open

Grant Type

foundation

Overview

Start Up Grand Forks

Status: Pilot program (three-year)

Geographic Scope: Grand Forks, North Dakota

Focus Areas: Seed funding for entrepreneurs and small business startups

Overview:
Start Up Grand Forks is a three-year pilot program designed to provide seed funding to entrepreneurs. The program was approved by the City of Grand Forks Jobs Development Authority and received recommendations from both the Grand Forks Region EDC board of directors and the City of Grand Forks Growth Fund.

Key Features:

Addresses the lack of readily available start-up capital identified as a major roadblock for entrepreneurs

A committee of local entrepreneurs assists startups in developing ideas and connecting them to existing resources

Flexible and accessible source of seed capital

Funding Structure:

Entrepreneurs can apply for loans up to $20,000 through the Jobs Development Authority

The Bank of North Dakota matches half of the approved loan amount

Combined total available: up to $30,000 per entrepreneur

Eligibility:

Small entrepreneurs starting new businesses

Applicants must go through an application process

Contact Information:

Contact: Brandon Baumbach, EDC Development and Outreach Manager

Phone: 701.746.2724

Email: Available through EDC website

Organization:

Grand Forks Region Economic Development Corporation

120 N. 4th Street

Grand Forks, ND 58203

Phone: (701) 746-2720

How to Apply

Application Process

1. Submit Application - Entrepreneurs apply through the Jobs Development Authority application process for loans up to $20,000
2. Committee Review - A committee of local entrepreneurs reviews and assists applicants in developing their business ideas
3. Resource Connection - Committee connects applicants to existing resources and support systems
4. Loan Approval - Jobs Development Authority approves loan amount
5. Bank Match - Bank of North Dakota matches half of the approved loan amount (up to an additional $10,000)

Required Materials

Standard loan application materials (specific requirements not detailed in source)
Business plan or idea documentation
Evidence of entrepreneur status/new business startup