Hettinger County Job Development Authority announces New England Rural Housing has received a Micro-loan from Southwest Rural Economic Area Partnership (SW REAP).
The micro-loan has allowed New England Rural Housing to upgrade their four-plex, which was built in the 1960’s, with new windows, siding, roofing, mechanicals and more. The new improvements will make the affordable apartments more pleasant for all the tenants.
The SW REAP Micro Loan program addresses funding requests for businesses which employ one to ten people, or new ventures, within its geographic region – the North Dakota counties of Adams, Billings, Bowman, Dunn, Golden Valley, Hettinger, Stark and Slope.
Businesses can receive up to a maximum of a $10,000 loan, but no more than 50% (whichever is less) for business start-up, product development, research & development, marketing plans, marketing activities, or other business activities approved by the SW REAP Board. The micro loans are to be repaid within three years.
Applicants are encouraged to submit an application and provide a project narrative with a budget to the local economic development agency.
For more information regarding the SW REAP Micro Loan Fund, contact:
Mark Resner, Director
Hettinger County JDA
Hettinger County Courthouse
Ph. 824-4205 or 567-3708