Business Funding & Financial Resources

Strategic Capital for Growth in Koochiching County

The Koochiching Economic Development Authority (KEDA) is committed to stimulating private investment and economic diversification throughout the North Country. We serve as your primary gateway to a robust network of local, regional, and state funding programs designed to support business startups, expansions, and relocations.

Every business need is unique. Whether you require a small micro-loan or a multi-million dollar industrial financing package, KEDA helps you identify and leverage the right resources to bridge the gap between your vision and your capital.

Local Loan & Grant Programs

We work closely with municipal partners to provide targeted financial assistance within specific city limits and across the county.

Koochco Loan Program

• Purpose: Private gap-loan provider for businesses within Koochiching County.
• Capacity: Up to 50% of project financing (Max $40,000).
• Eligible Uses: Land acquisition, building renovation, machinery, and working capital.
• Download the Koochco Loan Application

Koochiching Community Development Association (KCDA)

• Focus: Community enhancement and small business development grants.
• Funding: Up to $5,000 per project, distributed on a quarterly basis.
• KCDA Business Application | KCDA Community Enhancement Application

Municipal Revolving Loan Funds (RLF)

Many of our cities offer specialized commercial loan programs to encourage local property improvements and job creation:

• International Falls: Up to $25,000 for commercial property improvements at 3% interest.
• Littlefork: Loans from $5,000 to $50,000 for manufacturing, tourism, and agriculture.
• Big Falls: Assistance up to $25,000 for new business or expansion projects.
• Northome: Micro-loans up to $6,000 at a 1.5% interest rate.

Regional & State Resources

KEDA leverages a powerful network of regional partners to provide larger-scale financing and specialized consulting.

• Northeast Entrepreneur Fund: Flexible financing from $1,000 to $150,000, paired with expert business consulting.
• The Northland Foundation: Direct and participation loans ranging from $50,000 to $500,000 to stimulate regional growth.
• Arrowhead Regional Development Commission (ARDC): Gap lending for high-priority sectors like aviation, manufacturing, and technology.
• SBA 504 Loans (MBFC): Fixed-asset financing for major projects including acquisition and construction.
• MN Dept. of Employment and Economic Development (DEED): Access to state-level job creation incentives and economic development grants.

Local Lending Institutions

Our programs are intended to complement the services of local lenders. We encourage you to contact our community banking partners: