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"Providing Financial and Technical Assistance to
Small Business in North Dakota"
Working together, neighbor helping neighbor has been a way of life across the prairies of North Dakota. This philosophy of teamwork inspired the creation of the Entrepreneur Centers of North Dakota (ECND). ECND is an effort of local, state and federal resource providers offering access to over twenty financing programs and a network of resource providers who offer counseling, training and assistance to North Dakota's start-up and existing entrepreneurs. The goal of this group is to work jointly with business people, lenders, economic developers and communities to streamline the financing process and provide timely service to borrowers. The Entrepreneur Centers of North Dakota also offer access to counseling, mentoring, technology, training, publications and materials designed to assist start-up and expanding businesses.
| PARTICIPATING AGENCIES: |
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Entrepreneur Centers of North Dakota financial participants include: |
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Bank of North Dakota
www.banknd.gov
Located in Bismarck, this is the only state-owned bank in the nation. Its mission is to encourage and promote agriculture, commerce and industry in North Dakota. Bank of North Dakota acts as a funding resource in partnership with other financial institutions, economic development groups and guarantee agencies. |
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Dakota Certified Development Corporation
www.dakotacdc.com
The DCDC works with SBA's 504-loan program to provide growing businesses with long-term, fixed rate financing. The DCDC is also one of SBA's micro-loan intermediaries which provide up to $35,000. The DCDC also administers the InterRemediary Lending Program (IRP) for USDA-Rural Development. |
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ND Department of Commerce Development Fund
www.growingnd.com
The North Dakota Development Fund focuses on supporting business that provides jobs, broadens our tax base and enhances our quality of life. This program is targeted to primary-sector businesses. The fund provides 'gap financing' not available from most conventional lenders. The fund is a secondary source of financing, subordinate to private sources. If a business can't handle added debt, the Development Fund can take an equity financing position. |
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USDA Rural Development
www.rurdev.usda.gov/nd
USDA Rural Development is committed to helping improve the economy and quality of life in North Dakota. Through their economic development programs they provide loans to businesses through banks and community managed lending pools. They also offer public facilities and services and provide technical assistance to help communities undertake empowerment programs. |
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US Small Business Administration
www.sba.gov/nd
The mission of the SBA is to aid, counsel and act as an advocate for small businesses. The SBA offers a wide array of services including financing programs, government procurement assistance, business counseling through service providers, and bond guarantees for contractors. |
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Regional Development Councils
The 8 Regional Planning Councils receive an annual allocation and make recommendations for projects to be funded in their region. For more information on the regional development councils, see section 14, "Planning and Development Offices." |
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ENTREPRENEUR CENTERS OF NORTH DAKOTA TECHNICAL ASSISTANCE PARTICIPANTS:
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SBA Outreach & Resource Centers
The SBA Outreach Centers and District Office are staffed with SBA employees whoprovide counseling and training services to start-up and expanding businesses in North Dakota.
657 2nd Avenue North, Room 219
PO Box 3086
Fargo, ND 58108
701-239-5131
1200 Memorial Highway
PO Box 5509
Bismarck,ND 58506-5509
701-328-5850 or toll free 800-544-4674
102 4th Street North, Suite 125
Grand Forks, ND 58506
701-746-5160
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Small Business Development Center (SBDC)
www.ndsbdc.org
The SBDC provides management and technical assistance in a variety of general and special areas to start-up and expanding small business owners with organizational, financial, marketing or technical problems. The SBDC is a statewide organization. See Section 1 for a list of SBDC offices.
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Service Corps of Retired Executives (SCORE)
www.score.org
SCORE is a nationwide organization of retired business owners and professionals who volunteer their expertise to help entrepreneurs. SCORE offers individual counseling and low-cost workshops. See Section 1 for a list of SCORE offices.
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Center for Technology & Business
www.trainingnd.com
The Center for Technology & Business (Women and Technology) serves North Dakota as a Women's Business Center. They offer a statewide program of technical education that is delivered in the local community over a short period of time. The curriculum, offers a simplified course specifically designed to assist the participants to become comfortable with technology and enhance their business and life skills. See Section 2 for more information.
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| COST OF SERVICES: |
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There is no cost for the services and use of the Entrepreneur Centers of North Dakota (ECND) and their resource partners. A nominal fee may be charged for workshops or training programs. Fees may be charged for certain ECND loan programs. |
| GEOGRAPHIC AREA SERVED: |
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Services are available statewide. |
| CLIENTELE SERVED: |
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Economic development professionals, community leaders, lenders and other resource providers may use the services of ECND to enhance the services they provide to small business owners in their area. Services are also available for start up or existing small business owners. Specialized programs are available for underserved populations including minorities, veterans and women. Additional outreach efforts are made to rural areas of the state. |
| SPONSORS: |
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Bank of North Dakota, Dakota Certified Development Corporations, Department of Commerce-Development Fund, USDA-Rural Development and US Small Business Administration. |
| CONTACT: |
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Entrepreneur Centers of ND
1200 Memorial Highway
PO Box 5509
Bismarck, ND 58506-5509
701-328-5850 or 1-800-544-4674
Fax: 701-250-4304 |
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