Grand Forks Growth Fund Approves Charity Loan

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The Grand Forks Growth Fund approved an offer to provide Integrity fundraisers with a $ 95,000 (C-RUN) unmet needs loan on Monday 23 August.

Co-owners Scott Reinhart and Scott Kild founded Integrity Marketing & Fundraisers in 2006, before it became strictly known as Integrity Fundraisers in 2012. She provides coupons and other merchandise to schools and other organizations to raise money.

C-RUN loans are 1% interest rate loans ranging from $ 5,000 to $ 200,000 to recover and grow the pandemic for eligible businesses and non-profit organizations in Grand Forks County. For businesses and non-profit organizations to receive a loan, they must operate until March 1, 2020 and have been negatively impacted by the COVID-19 pandemic. Loans are deferred for up to 12 months, usually for a period of five to seven years.

A good faith fundraiser requested a loan due to the negative impact of the COVID-19 pandemic on its business. Reinhart and Kilde argue that restrictions on school activities, social distancing principles, and the use of distance learning have forced schools to completely abolish many fundraisers who relied on face-to-face communication.

The loan was requested to cover the three to six months’ expenses to pay the bills for the fall 2021 school year and to ease their limited cash flow. In response to the difficulties caused by the pandemic, the Growth Fund found that Integrity Fundraisers have diversified their revenue streams to activities other than regular coupon books by providing online fundraisers, coupon e-books, and customized prints.

In another business:

  • Growth Fund approved ND Coffee Roaster’s request for FlexPace loans of $ 30,619 and $ 922 to repurchase the interest rate on Gate City Bank loans to purchase land and equipment for the expanded production facility, as well as a deficit financing loan of $ 32,700 to the purchase of real estate and $ 16,248 for the purchase of equipment, including a chopper, hopper and scales.
  • According to the statement, the growth fund has approved Sundog Mining’s request to lease land from JDA to “build and / or install facilities where they will operate and operate a digital asset mining and data center business.” The request concerns approximately 10,000 square feet of space in the northwest corner of JDA’s property at 1650 S. 52nd St. in Grand Forks. Sundog Mining will lease the premises for $ 1,200 a year for three years, with the option to renew for another three three-year terms after expiration. The company will also pay for all utilities, room improvements and rental taxes.

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