Lake Agassiz Development Group
417 Main Avenue | Fargo, ND 58103
Ph 701-235-1197 | Fx 701-235-6706
Regional and Local Economic Development Planning Community Development Block Grant EDA Revolving Loan Fund Community Development Loan Fund Board of Directors
USDA Intermediary Relending Program SBA Microloan Program Board of Directors
Business Incubator Office without an Office Application
Senior Housing Development Hope, ND Lisbon, ND Page, ND Wahpeton, ND
EDA Revolving Loan Fund
LARC's EDA Revolving Loan Fund was capitalized by a grant from the Economic Development Administration in the aftermath of the 1997 Upper Midwest winter storm and flood disasters. First round funding was dedicated to remediation of disaster-impaired businesses. Since 2002 the fund has been available for general business development lending throughout the Lake Agassiz Region, including the City of Fargo. Funds may be used for real estate, equipment, inventory and general working capital. The maximum loan amount is $250,000 or one-third the total project cost, whichever is less. EDA RLF loans are typically subordinated to bank financing. LARC targets EDA RLF funding to industrial or primary sector projects, though retail and service sector projects are eligible.
The LARC Loan Committee approves EDA RLF loan applications. Borrowers should allow 30 days from receipt of a full application package.
Forms (in PDF)
Please Contact Us or Request Info for a detailed description of eligibility requirements, fees and current interest rates.