The North Central Economic Development Association (NCEDA) is a local non-profit corporation established with federal and local dollars through the Region Five Development Commission.
It offers gap financing for fixed assets and working capital for new and expanding businesses in Cass, Crow Wing, Morrison, Todd, and Wadena Counties.
Businesses must be located within the Region, be a for-profit corporation, partnership, or proprietorship, and be able to demonstrate ability to repay the loan.
Loans range from $5,000 to $100,000 and can be used for acquisition and/or improvement of land, buildings, plants, and equipment; new construction or renovation of existing facilities; demolition and site preparation, machinery and equipment purchase; and working capital.
Loan funds may not be used for professional fees, debt consolidation, and acquisition of real property for subsequent lease.
North Central Economic Development Association
Address: 403 Prairie Ave. N.E. ·Suite 100