Emergency Loan Fund Set Up For Businesses in Bemidji

The Bemidji City Council has agreed to set aside a total of $25,000 for an emergency loan fund that can bridge the gap for businesses within city limits during this tough time.

The city’s existing loan fund is used to help new business startups in the area, but with the addition of the emergency loan fund, businesses can borrow up to $25,000 with 1% interest after the first six months.

Businesses are encourage to talk to their bank or credit union first before reaching out to the city in regards to the emergency loan fund.