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Unlocking Capital for North Dakota Small Businesses
Purpose of the RRCF
The Red River Corridor Fund (RRCF) creates jobs by helping small businesses across North Dakota access capital.
The RRCF was initially funded by the U.S. Department of Treasury as part of the State Small Business Credit Initiative (SSBCI) program as part of the Small Business Jobs Act of 2010. The RRCF consists of a coalition of 36 North Dakota municipalities who joined together to bring this capital resource to their communities.
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Fenworks, Inc., a technology company located in Grand Forks, will utilize the funds to expand its services and hire employees, with a focus on delivering competitive and collaborative esports and drone racing programs across a six-state region.
The investment enabled Fenworks to access funds from the North Dakota Department of Commerce Angel Match Program (AMP). Funds for the AMP were provided through the U.S. Department of Treasury State Small Business Credit Initiative (SSBCI).
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