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North Dakota Development Fund

Sponsor
North Dakota Department of Commerce
Deadlines
Applications accepted on an ongoing basis
Contact

Ashley Hruby
701.328.5349
ahruby@nd.gov

Purpose

The North Dakota Development Fund coordinates efforts between all the sources of financing, the business and the community. Any project considered for this financing must be feasible and have a reasonable chance of succeeding.

The fund provides flexible financing through loans and equity investments not available from most conventional lenders, and is available to any primary-sector business with the exception of production agriculture. The Development Fund also administers the Regional Rural Revolving Loan Fund, which provides funding for primary-sector projects located in a community of less than 8,000 in population or located more than 5 miles outside the city limits.

The fund is a secondary source of financing, subordinate to private sources. If a business is unable to handle added debt, the Development Fund can take an equity financing position.

Eligibility

Contact the ND Development Fund staff to discuss eligibility.

Geographic coverage
North Dakota
Amount of funding

Loan amounts are based on project type and need.

Application process

To begin the process, contact a local financial institution, local economic development office, or the ND Development Fund staff. An early meeting between investors, entrepreneurs, community developers and other appropriate team players is recommended.

Qualified projects are taken to the Development Fund Board of Directors for consideration. More information can be found on the Application Process webpage.

The Fund requires a 15-20 day lead time to conduct due diligence and complete other details needed to process debt and equity requests.

Tagged as
Capital funding ยท North Dakota



For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.