Headwaters Regional Development Commission (HRDC) has a new COVID-19 Relief Loan Fund. Loans are designed to provide critical financing to small businesses and entrepreneurs adversely affected by the coronavirus pandemic. Loans are available to qualified businesses in HRDC’s five-county region: Beltrami, Clearwater, Hubbard, Lake of the Woods and Mahnomen. Interest rates start as low as 0% and staff will work with applicants to design flexible repayment terms.
The loan application can be found at www.hrdc.org/applicant-information. Email Sarah Linda, Business Loan Specialist, at email@example.com for more information.
HRDC was awarded $3.4 million dollars by the U.S. Department of Commerce Economic Development Administration (EDA) to capitalize and administer its Revolving Loan Fund (RLF).
The HRDC is a regional planning and development organization that serves local governments, development organizations, community leaders, and others in the five counties. The HRDC can help these customers identify needs, develop appropriate solutions, and find the resources to carry out their plans.
The HRDC is a current EDA RLF grantee and is one of the more than 850 existing, high-performing EDA RLF, Economic Development District, University Center and tribal grant recipients invited to apply for supplemental funding under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.