Grant Awarded to IEDC

(Pictured left to right: Bob Palmquist of Northland Foundation, Michael Colclough of Northland Foundation, Steve Pederson of Entrepreneur Fund, Terry Stein of MBFC, Shannon Benolken of IEDC, Robert Aitken of Leech Lake Financial Services, Jeff Borling of Great River Energy)

Grant Awarded to IEDC of Grand Rapids

Minnesota Business Finance Corporation (MBFC) presented an Economic Development grant to Itasca Economic Development Corporation (IEDC) based out of Grand Rapids, MN. Terry Stein, Vice President of MBFC, was on hand to deliver the check to Mark Zimmerman, President & CEO of IEDC at a recent forum held in Northern Minnesota. Commercial lenders, economic development officials, and financial service providers met to review programs and resources offered with partnering organizations.

Pictured: Mark Zimmerman, President & CEO of IEDC Terry Stein, Vice President of MBFC

IEDC continues to focus on expanding the local business community in Grand Rapids area. They also have a Small Business Development Center which supported more than 135 entrepreneurs start, maintain, or expand their business in the last year. Partnering with MBFC, they are able to provide financing options for economic opportunities to all of greater Itasca County. Stein was among several presenters at the 2018 Lender’s Lunch. He spoke regarding the SBA 504 loan program and highlighted benefits of the program in the current business market.

For more information on the many resources and economic development programs offered by IEDC and a link to their website, please click here.

MBFC is proud to offer grant opportunities to foster business development, job creation and retention. For more information about the SBA 504 Loan Program, MBFC Grants, or the VetLoan Advantage Rebate please contact your local Business Development Officer today!

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