COVID-19 Recovery Relief
COVID-19 Recovery Coordination Effort
In partnership with EDA’s Chicago Regional Office, the Headwaters Regional Development Commission (HRDC) will undertake short-term and long-term economic development planning and coordination to develop a disaster recovery and resiliency economic development plan, focused on pandemic recovery and resiliency, consistent with the approved CEDS maintained by the recipient. This work will include a full rewrite of the regional CEDS to focus on pandemic recovery.
COVID-19 Relief Loan Program
The HRFC has a new Covid-19 Relief Loan Program! Loans are designed to provide critical financing to small businesses and entrepreneurs who A) were adversely affected by the coronavirus pandemic or B) are trying to respond to or prepare for the pandemic (i.e. diversifying services, expanding operations). Eligible use of funds includes purchasing equipment or real estate, or working capital. Loans are available to qualified businesses in Headwaters’ 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 application for the Covid-19 Relief Loan is here: https://hrdc.org/business-finance/
The Covid-19 Relief Loan Program is available through July of 2022, or until funds are fully disbursed, whichever occurs first.