July PACE/FlexPACE Applications Due

Participating in the Assisting Community Expansion (PACE) Program, the Grand Forks Growth Fund may provide a no-interest, deferred loan up to $269,000 to leverage a Bank of North Dakota grant up to $500,000 to collectively reduce the interest paid on a loan used to acquire land or equipment on for working capital.

Don’t fit the traditional definition of the PACE program? FlexPACE is a flexible program where the Grand Forks Growth Fund may provide a loan of up to $107,000 to leverage a Bank of North Dakota grant portion of up to $200,000.

To apply for either program, please contact EDC business development staff. Applications are reviewed and approved by the EDC Board of Directors at monthly meetings before progressing to the Grand Forks Growth Fund.