Business Flood Recovery Fund

By KBJR News 1

London Road near Super One in Duluth

July 6, 2012 Updated Dec 20, 2013 at 7:41 PM CDT

Duluth, MN (Northland's NewsCenter) --- Much of the focus of the recent flooding has been on public infrastructure and damage to homes, however many local businesses have also lost property and revenue due to the recent storms.

That's why the Northland Foundation, along with other corporate and philanthropic partners, has set up a Business Recovery Fund to help small businesses get back on their feet and put their employees back to work.

Businesses who qualify will receive quick-turnaround grants up to $5,000 to help businesses replace equipment, inventory and make repairs.

Businesses can send in applications to Northland Foundation: Business Recovery Fund Website until funds are expended. Applications will be reviewed on a weekly basis through September 14th, 2012.

You can also contact Erik Torch, Grant Program Manager at the Northland Foundation for more information.

Two businesses have already applied and received grant money to help kick start their business following the recent floods.

Lou’s Rustic Diner in Barnum sustained between $75,000 to $100,000 worth of damage. The family-owned diner has been in business for almost 30 years, with five employees. They were awarded a grant of $5,000.

Cutting Edge Metals in Duluth sustained about $10,000 in damages. This business makes ornamental metal pieces for the home and employs 4 people. They were awarded $3,000 in grant money.

With the newest contribution of $50,000 from The McKnight Foundation, a total of $150,000 has been raised for the Fund, with $75,000 in additional requests pending. Funding partners are AgStar Financial Services – $25,000; Blandin Foundation – $25,000; Great River Energy – $25,000, The McKnight Foundation – $50,000; and the Northland Foundation – $25,000.

Posted to the web by Krista Burns