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Growth Fund committee approves loans to Vertical Malt for Grand Forks malting and milling operation
Summary
The Grand Forks Growth Fund Committee approved a combined EDA RLF loan of $325,000 and a JDA FlexPace loan of about $74,892 to Vertical Malt to support equipment and working capital for a 20,000 sq ft Grand Forks facility.
The Grand Forks Growth Fund Committee on June 23 approved two loans totaling about $399,892 to Vertical Malt to support the company’s new malting and milling operation in Grand Forks.
Vertical Malt, a value‑added agricultural business that the record shows began as a family farm in Fisher, Minnesota and piloted malting operations in Crookston, plans to lease a 20,000‑square‑foot space at the Enclave Exchange warehouse on the south end of Grand Forks and expand milling and storage operations for barley and malted flour. The Growth…
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