BUSINESS INCENTIVES & SUPPORT
Entrepreneurship is important to community vitality.The Discovery and Development Hub was designed to create an entrepreneur ecosystem and serve as a resource to assist start-ups and existing businesses in partnership with the City of Warroad and Warroad Community Development, LLC. The following are a list of resources currently available. Programs and assistance at the regional, state and national level evolve and change and we do our best to keep record of programs to explore fit for business expansion.
SBDC | Private consultation services are available at the DD Hub from the Northwest Small Business Development Center (SBDC). Services are based on demand and availability marketed through the DD Hub. New clients must register in advance prior to a consultation.
- Grant Oppegaard, Business and Finance
- Deb McGregor, Marketing
This is a free service and once registered, entrepreneurs remain an active client as long as service is requested.
SCORE | A volunteer, mentorship program to assist businesses. The SCORE office supporting Warroad is located in Grand Forks, ND. Mentors do not travel, but will visit with clients at their site located at the Center of Innovation at the University of North Dakota. Address is 4200 James Ray Drive, Suite 202, Grand Forks ND 58203. Phone: 701.746.5851.
LegalCORPS | A free, non-ligation business law non-profit organization supporting small businesses, small non-profits and low-income innovators in Minnesota through services of volunteer attorneys. This service is located in Minneapolis. Inquiries can be made via email at email@example.com or via phone, 612.206.0780.
Warroad Entprenueruer Incubator Grant Program | Geared toward “start-ups” this program offers up to a $5,000 grant to assist with start-up costs. Requires business and financial plan pitch to investors of this fund. Visit the DD Hub for more information.
It’s important to have a business and financial plan prior to a visit with local banks or applying for available business financing programs. Most often, commercial bankers are the first course of action and financial programs become “gap” lending options. The DD Hub is open to learning about projects and make connections or referrals that align with project goals and has information about local and available programs.
- Security State Bank, Warroad, MN
- Border State Bank, Roseau, MN
- Citizens State Bank, Roseau, MN
- Wells Fargo, Baudette, MN
Local Loan Programs
- Warroad Entrepreneur Loan Program | Low interest business loan program up to $50,000. Brochures and program information is available at the DD Hub.
- Northwest Minnesota Foundation Communities Thrive Loan Program | Low interest business loan program up to $50,000. Brochures and program information is located at the DD Hub, City Office, Security State Bank, and Scott Johnson Companies.
- City of Warroad, Port Authority Loan Programs. Contact City Administrator for available programs.
- Low interest loans
- TIF Districting Options & Availability
- Other creative options on a case-by-case basis
Regional / State / Federal Programs
There are additional opportunities in working with the regional, state and federal organizations that evolve and change on an on-going basis. The U.S. Small Business Administration, the Northwest Regional Economic Development group and the Minnesota Department of Employment and Economic Development have listings of available programs online. We invite you to visit their websites for more information.