The Region Five Development Commission (R5DC) was established in 1973. Area governments came together to establish R5DC through the Regional Development Act of 1969.
NCEDA is a 501c3 affiliate organization of R5DC and was established in 1986 by R5DC in part due to the receipt of a U.S. Department of Commerce, Economic Development Administration grant.
Did You Know?
NCEDA advises R5DC on lending industry standards and best lending practices for our 5 lending programs:
- Gap Business Loans: The Gap loans were initially funded by a US Department of Commerce – Economic Development Administration in the early 1980’s and provide gap lending for new and expanding businesses.
- Micro Lending: The micro-enterprise fund was supported by USDA Rural Development and start up funds from Otto Bremer Foundation, the Initiative Foundation and the Blandin Foundation in 2012.
- ELP: Emerging Entrepreneur Loan Program supports the growth of businesses owned and operated by minorities, low-income persons, women, veterans and/or persons with disabilities. DEED provides funds to a network of nonprofit lenders which use these funds for loans to start-up and expanding businesses.
- ISTS: Individual Septic Treatment Systems funded through the Department of Agriculture
- HWWS: A pool for Household Water Well Systems funded by USDA Rural Development.
NCEDA has an interdependent relationship with R5DC and contracts all accounting and professional services to R5DC staff. This arrangement is mandated by program agreements and has proven to be mutually beneficial for 30 years.
To provide industry expertise for lending programs offered or created by the Region Five Development Commission.