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EDA approves $75,000 GAP loan to help NP Hometown Properties buy building and retain two businesses
East Grand Forks Economic Development Authority · July 23, 2025
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Summary
The East Grand Forks EDA approved a $75,000 GAP loan and reduced the owner's equity requirement to 5% to help NP Hometown Properties purchase its building and retain two local businesses, following a loan-committee recommendation.
The East Grand Forks Economic Development Authority on Wednesday approved a $75,000 GAP loan to NP Hometown Properties to help purchase the building the company occupies and retain two local businesses.
Staff presented the loan request and…
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