Business Flood Recovery Fund

By KBJR News 1

Business Flood Recovery Fund

June 27, 2012 Updated Jun 27, 2012 at 2:53 PM CST

Duluth, MN (Northland's NewsCenter) -- A grant has been created by the Northland Foundation to assist businesses in northeastern Minnesota with recovery from flood damage.

In conjunction with AgStar Financial Services, Blandin Foundation, and Great River Energy Northland, the organizations have established the Business Recovery Fund for businesses affected by the floods.

The money will be allocated as grants to businesses the focuses mainly on Aitkin, Carlton, St. Louis, and eastern Lake Counties, as well as other areas in the Foundation's 7-county service region which acquired flood damage.

Grants up to $5,000 each will focus on the replacement of assets including inventory, machinery/equiptment/furniture, supplies, and building and site repair.

Applications will be reviewed with the goal of providing a response within two to four weeks.

The deadline for the final grant application is September 14.

Funds will be available for distribution until they are expended and are considered on a first come, first served basis.

In order to be eligible for consideration of a grant, businesses must meet criteria:

- must have been impacted by the flood
- affirm the intention to remain open or reopen in or near the impacted community.
- demonstrate a need for financial support
- affirm the intention to remain open or reopen in or near the impacted community.
- demonstrate a need for financial support.
- must be registered with FEMA or a local emergency management service
- must have accessed available insurance
- request support that does not coincide with other disaster recovery funding received.

For more details and the application form are also available online at www.northlandfdn.org.