Small Enterprise Loan
The Small Enterprise Loan Fund provides gap loans and is managed by Pelican Rapids Area Community Fund (PRACF), a community fund of the West Central Initiative (WCI). PRACF was established by the citizens of the Pelican Rapids area to improve the quality of life in and around the community of Pelican Rapids. The Revolving Loan Fund is designed to encourage business expansions, start-ups, and the resultant job creation and retention in the Pelican Rapids area.
Commercial Rehabilitation Program
The purpose of the Pelican Rapids Commercial Rehabilitation Program is to encourage preservation and beautification of commercial buildings in the City of Pelican Rapids. This will be accomplished by providing grants and low interest loans to enhance commercial building facades through exterior restorative improvements.
Support and financial resources for the Pelican Rapids Area Economic Development Corporation come from the following:
- Pelican Rapids Area Economic Development Corporation
- Pelican Rapids Area Chamber of Commerce
- City of Pelican Rapids
- City of Erhard
- Cormorant Village
- Economic Development Authority
- Pelican Rapids Area Community Fund
- Pelican Rapids Loan Pool
- Erhard Loan Pool
- West Central Initiative Fund
- Midwest Minnesota Community Development Corporation
- Tax Increment Financing
- Industrial Revenue Bonds
- Small Business Administration
- Blandin Foundation
- Minnesota Department of Trade and Economic Development
- Otter Tail County Tourism
- Area Lake Associations
- And these townships: Dora, Dunn, Elizabeth, Erhard Grove, Friberg, Lida, Maplewood, Norwegian Grove, Pelican, Scambler, Star Lake, and Trondhjem.