North Dakota Development Fund
North Dakotans have an interest in financially supporting business because business provides jobs, broadens our tax base and enhances our quality of life. The North Dakota Development Fund may be the perfect source for many primary-sector businesses. The fund provides “gap financing” not available from most conventional lenders.
An eight-member board and experienced staff carry out the functions of the North Dakota Development Fund. The fund is a secondary source of financing, subordinate to private sources. If a business can’t handle added debt, the Development Fund can take an equity financing position.
The Fund is a team player in economic development. It 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.
This fund was created to provide flexible “gap” financing through loans and equity investments. Funding 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 projects located in rural areas. To access the Rural Revolving Loan Fund, the primary-sector business must be located in a community of less than 8,000 in population or be located more than five miles outside the city limits.
NDDF Application Process NDDF Board of Directors NDDF Investments
For more information, contact:
|
