The Wishek JDA offers 2 primary funding programs for both new and established businesses. On August 8, 2022 the following guidelines were officially adopted by unanimous vote of the Board of Directors. Please note that the JDA no longer provides grants for business development or interest payments for PACE/Flex loan programs through the Bank of North Dakota. 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
- Applicant business/organization requesting funds from JDA may not receive any local, state or federal tax appropriations.
- Applicants must attest that all information provided to JDA is true/accurate and submit appropriate and verifiable documentation as requested.
- 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.
- Create additional or maintain job opportunities for Wishek area residents.
- Provide goods or services to Wishek area residents or other businesses.
- Loan requests to expand a Wishek business must increase the number of full-time staff.
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.
- Annual budget allocation = $40,000. Unused funds may be rolled over to the following year.
- Applicant may not have a past or present Wishek JDA loan agreement with overdue payment history.
- 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.
- Repayment of loan begins the first day of the second month following loan fund disbursement and continues until loan is repaid in full.
- Payments made the previous year (on loan anniversary) date may be refundable upon submission of employee data indicating number of FTE created/maintained equal to at least 70% as agreed upon in promissory note.
JDA-Funding-Application
You may complete, save and e-mail the PDF fillable application online or download and print to complete by hand. Once finished or if you have questions contact JDA by phone (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.