Find Funds
Unlock Your Business's Potential
Have a big project in mind? Contact the EDA before starting to see if there are state funds/partnerships available. Look through the available sources of funds to assist with your business.
EDA Gap Loan Program
Finance the remaining part of your project 33.3% of the total cost or up to $149K. Low interest rates. Apply here
Agriculture
See loans, grants, and business development support from the USDA.
Microloans
Micro loans are available through NW MN Foundation , African Development Center , MMCDC, and SBA Microloan Program.
Promise Act Loan
Disparity Tax Credit
Industrial, commercial, and some apts businesses within East Grand Forks automatically receive the Disparity Tax Credit on their property taxes. This reduces the tax rate down to roughly 1.6% which is competitive with ND's 3% rate.
Check with Polk Co. to see if you're eligible.
SBIR/STTR
Innovation grants for operations from LaunchMN. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) are non-dilutive, federal matching grants for research, development, and commercialization.
Must be for-profit, 500 employees or less, and US-owned. Need help? SBDC reps: Christine Anderson or Nicole Evans
Provider Loans
NW MN Foundation Childcare Loans
Childcare Aware loans, grants, and support
ParentAware funding resources, grants, and training
Social Entrepreneur Fellowship
Available through the NW MN Foundation
The expectation is that Initiators dedicate 20 hours per week to the work of the fellowship and the development of their vision. The fellowship compensates each Initiator with an annual stipend of $30,000.
Crowdfunding
MNVest similar to Kickstarter
Silicone Prairie Portal & Exchange helps companies raise up to $5M in capital.
Angel Investors
Angel Tax Credit Program provides 25% tax credit to investment funds or investors for innovative startups. (funding paused)
MPCA
Businesses of 100 staff or less, with less than $500k profits can apply for environmental 0% loans. Learn more from the MPCA.
Veteran & Reservist
Loans available for existing and startup veteran businesses. Both types of loans provide one-time, interest-free loans of $5,000 to $20,000. The loan terms are 54 months, with no repayment for the first 18 months and equal monthly payments over the remaining 36 months.
New Market Tax Credits
Helps direct the flow of capital to businesses and low income areas by providing tax incentives to private investors with flexible and creative lending.
Visit the MMCDC page.
Riba Free Loans
Access Sharia-compliant business loans and mortgages through:
Devon Bank , UIF/ University Bank, Bank of Whittier, African Development Center
SBA Loans
504 Loan long-term, fixed-rate loans up to $5 million for capital purchases such as land, buildings, machinery and equipment.
7(a) offers financial help for businesses with special requirements. 7(a) loans max amount is $5 million.
Midwest Business Finance Corp is able to assist with these. Search for other lenders of these programs through the SBA page.
Work Opportunity Tax Credit
Business tax credit allows employers to reduce their federal tax liability by up to $9,600 per new hire. Learn more: WOTC
Jobs Creation Fund
Funding for businesses expanding and adding at least 5 jobs. Contact the EDA for application assistance.
EDA funding programs available for YOUR business
The Economic Development Authority of East Grand Forks has some options to support your business's growth and expansion.
To be considered for EGF Economic Development Authority programs, Border Cities, Microloan, and Gap Loans, use the button below to apply.
Already have an active incentive or funding program? Report your annual jobs and wages information with the button below.
EDA Financial Assistance Policies
The Economic Development Authority of East Grand Forks revised the lending and assistance policies in October 2024.
Read the EDA's business subsidy, revolving loan, and tax credit policies.
Limited Duration Grants & Funding Rounds
Offered through various organizations either once or cyclically. Subject to change.
Promise Act Grant
π΅up to $50k
πNW MN Foundation
π¨βπ»Apply here
Small Business Heroes Grant
π΅ $20k grant + business resources
π Intuit QuickBooks
π¨βπ» Learn about being nomination
MN Ideas Grant
π΅ $125k, opens Jan 5th
πSt. Paul Foundation
π¨βπ»Charitable project details
Management Improvement Fund
π΅ $15k to nonprofits
πSt. Paul Foundation
US Chamber Grant List
π΅ Amounts vary
πVarious organizations
π¨βπ»Check out all the opps
Farming, Ag, Food Funds
π΅ Amounts vary
π USDA Institute of Food & Ag
π¨βπ»Browse the open RFAs
Thrive Grant
π΅ $5k grant, opens Jan.
πBreva
π¨βπ»Learn more about the details
EGF Childcare Provider Grant
π΅ Varies, opens Jan 15th
π EGF RCCIP Committee
π¨βπ» Preview the info
Veteran Grants
π΅ Amounts vary
πVarious organizations
π¨βπ»Browse the listings
Emerging Entrepreneur Loan
π΅ Low Interest Loan Program
π DEED
π¨βπ»See if this program works for you
MN Job Skill Partnership Grant
π΅ Up to $400k to edu partner
π DEED
π¨βπ»See if this program works for you
Small Business Environmental Improvements Loans
π΅ 0% interest, $1k-$75k up to 7 years
π MPCA
π¨βπ» Read about the details
About EGF
Send us a message to learn how East Grand Forks
can be the right fit for your business.
Contact Us
To find out what incentives and opportunities are available here to help launch your business.
