Souris Basin Planning Council (SBPC) has received a $250,000 investment into its Business Accelerator Fund following approval by the Minot City Council. The investment will help strengthen financing opportunities for businesses across the region by providing local interest buydowns that allow businesses to access the Bank of North Dakota’s PACE and Flex PACE programs.
Established in 2019, the Business Accelerator Fund has become an important economic development tool, helping entrepreneurs and expanding businesses secure affordable financing for projects that create jobs, encourage investment, and strengthen local communities. The fund works alongside local lenders and the Bank of North Dakota to reduce borrowing costs, making it easier for businesses to move forward with growth and expansion plans.
This latest investment ensures the Business Accelerator Fund will continue assisting businesses throughout the Souris Basin Planning Council region while leveraging additional state and private financing. By partnering with local lenders and utilizing PACE and Flex PACE programs, the fund helps maximize the impact of every dollar invested, supporting long-term economic development across north central North Dakota.