Working Capital Loan Fund

Blandin Foundation repurposes $1 million in investments to build new loan funds for Itasca area small businesses. At a special meeting of Blandin Foundation’s board executive committee, trustees voted to quickly establish two $500,000 funds to support Itasca County area small businesses, one for working capital and one a relief fund.

The Grand Rapids Economic Development Authority will manage a new $500,000 loan fund named the “Emergency Working Capital Loan Fund,” which will make quick-turnaround loans to Grand Rapids-based businesses impacted by COVID-19.

For more information contact: Rob Mattei, Director of Community Development/GREDA Executive Director
Phone: 218-326-7622
Email: rmattei@ci.grand-rapids.mn.us