JDA Funding Programs

The Wishek JDA offers funding programs for both new and established businesses. In addition to direct funding, businesses are encouraged to explore potential renaissance zone tax incentives. Click here to learn more about the Wishek Renaissance Zone.

Funding Eligibility

1.  Applicant business/organization requesting funds from JDA may not receive any local, state or federal tax appropriations.
2.  Applicants must attest that all information provided to JDA is true/accurate and submit appropriate and verifiable documentation as requested.
3.  Applications to fund a new business startup or purchase an existing business must meet all the following:

• Operate within Wishek city limits or immediate service area.
• Serve to benefit the Wishek community.
• Create additional or maintain job opportunities for Wishek area residents.
• Provide goods or services to Wishek area residents or other businesses.
  

   

Refundable Business Loans

The Wishek JDA has refundable loan funds available for financing any aspect of the proposed business project, including: business startup/expansion, purchase, marketing, equipment, inventory, operations and property improvement.

1. Annual budget allocation = $40,000.
2. Annual business operating budget allocation = $100,000. This allocation will be decided yearly based on sales tax revenues.
3. Applicant may not have a past or present Wishek JDA loan agreement with overdue payment history.
4. Businesses may borrow up to $5000 per FTE of jobs created or maintained with a maximum active total loan amount of $15,000. 
   --- Loan payments will all be set at $208.33 per month until loan is fully repaid.
   --- Loan payment terms will range from 2-6 years at 0% interest.
   --- Payments made the previous year (on loan anniversary) date may be refundable upon submission of employee data indicating the number of FTE created/maintained equal to at least 70% as agreed upon in promissory note.
5. Business operating (i.e. equipment, building updates, marketing) funds may be requested by filling out a Business Operating Refundable Loan application.
   --- Loan payments will be set per month throughout the term of the loan until loan is fully repaid.
   --- Loan payment terms will range up to six (6) years maximum at 0% interest.
   --- Applicant will provide a yearly business loan refund request.
6. Repayment of the loan begins the first day of the second month following loan fund disbursement and continues until loan is repaid in full.
7. Funding applications will be submitted to the JDA Board for approval.
8. Upon approval of application, a Promissory Note will be issued for signatures.

JDA Funding Application 

Print the JDA Application and then submit it to the JDA office located at Wishek City Hall or mail it to JDA, PO Box 466, Wishek ND, 58495.  If you have any questions, contact JDA by phone at 701-452-2371 or by email at wishekjda@bektel.com. 

Job Pathway Funding 

• $20,000 total annual allocation. Unused funds may be rolled over to next fiscal year.
• Rolling applications are accepted until all funds expended per fiscal year.
• $10,000 total funding per business lifetime, max $5000 per year
• $2 per mile for skilled/trained staff relocation, max $2500 per staff member, minimum amount $250.
• Maximum $500 (50% match ) for hosting/offering job shadowing experience. Business may host multiple job shadowing experiences but total matching funds will be deducted from the businesses annual and lifetime amount.
• Maximum $5000 (50% match) for tuition support/loan repayment for occupations designated as high demand or emerging by ND Career Builders program. Supported training/education programs are not limited to those only located in North Dakota.
• Funds are released only after evidence of employer expenditure submitted for reimbursement. Employer must repay relocation, tuition support and loan repayment funds if employee or employer voluntarily choose to discontinue employment within 2 years of full-time employment start date.