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.
Congress passed the American Rescue Plan Act of 2021, a $1.9 trillion stimulus package to support COVID-19 recovery and relief. The bill includes $10 billion to reauthorize the State Small Business Credit Initiative (SSBCI).
North Dakota's total SSBCI allocation is $56,234,174 of which $4,142,176 is allocated to very small businesses.