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Grand Forks Growth Fund approves loan for Integrity Fundraisers

Co-owners Scott Reinhart and Scott Kilde founded Integrity Marketing & Fundraisers in 2006 before it became strictly known as Integrity Fundraisers in 2012. It provides coupon books and other goods to schools and other organizations to raise money.

Grand Forks City Hall
Grand Forks City Hall
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The Grand Forks Growth Fund approved a motion to award Integrity Fundraisers a $95,000 COVID-19 Response Unmet Needs (C-RUN) loan Monday, Aug. 23.

Co-owners Scott Reinhart and Scott Kilde founded Integrity Marketing & Fundraisers in 2006 before it became strictly known as Integrity Fundraisers in 2012. It provides coupon books and other goods to schools and other organizations to raise money.

C-RUN loans are 1% interest loans ranging from $5,000 to $200,000 for pandemic recovery and growth for eligible businesses and nonprofits in Grand Forks County. For businesses and nonprofits to receive the loan, they must have been operating before March 1, 2020, and impacted negatively by the COVID-19 pandemic. The loans offer up to 12-month deferrals on payments, are usually five to seven years in length.

Integrity Fundraisers requested the loan due to the negative impact the COVID-19 pandemic has inflicted upon its business. Reinhart and Kilde claim the limitations of school activities, social distancing guidelines and reliance on remote learning caused schools to cancel many fundraisers entirely that relied on in-person communication.

The loan has been requested to cover three to six months of expenses until invoices from the fall 2021 school year are paid and to alleviate their limited cash flow. In response to difficulties brought on by the pandemic, the Growth Fund found Integrity Fundraisers to have diversified its revenue streams to other efforts besides just physical coupon books by branching out into providing online fundraising, electronic coupon books and custom engravings.

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In other business:

  • The growth fund approved ND Coffee Roastery’s request for FlexPace loans in the amounts of $30,619 and $922 to buy down the interest rate on Gate City Bank loans to purchase land and equipment for an expanded production facility, as well as gap financing loans of $32,700 for the purchase of real estate and $16,248 for the purchase of equipment, including a grinder, hopper and scale.
  • The growth fund approved Sundog Mining’s request for a land lease from the JDA to “construct and/or install facilities in which they will operate and conduct a digital asset mining and data center hosting business,” according to a statement. The request is for approximately 10,000 square feet of space in the northwest corner of a JDA-owned property at 1650 S. 52nd St. in Grand Forks. Sundog Mining will lease the space for $1,200 per year for three years with an option to renew for up to three more three-year terms after its expiration. The company will also pay for all utilities, building improvements to the space and leasehold taxes.
Jacob Holley joined the Grand Forks Herald as its business reporter in June 2021.

Holley's beat at the Grand Forks Herald is broad and includes a variety of topics, including small business, national trends and more.

Readers can reach Holley at jholley@gfherald.com.Follow him on Twitter @JakeHolleyMedia.
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