nd.gov - The Official Portal for North Dakota State Government
North Dakota: Legendary. Follow the trail of legends
Manufacturing Energy Agriculture Technology Aviation Life Science

Home | Development Fund | NDDF Programs
NDDF Programs

The Development Fund offers a number of flexible gap financing options for new or expanding primary sector businesses in North Dakota. Information about each of their programs is offered below.
 
North Dakota Development Fund Revolving Rural Loan Fund Rural Incentive Growth Program  
New Venture Capital Program Child Care Loan Program ND Small Business Technology Investment Program  










 

North Dakota Development Fund

BORROWER Any primary sector business
FUNDING LIMIT Up to $1,000,000 and based on job 
requirement
INTEREST RATE Lower than market rate - subject to risk of 
project
TERM Working capital 1-3 years, 
Equipment 3-5 years, 
Real estate 7-10 years
MINIMUM EQUITY
REQUIREMENT
15%
PERSONAL/CORPORATE
GUARANTEES
Yes
QUALIFICATIONS A North Dakota business
COST AND FEES 1% of original loan or equity balance
MISCELLANEOUS For businesses located in cities with a 
population of 8,000 or more

Loan amount based on job creation of 
$40,000 per FTE created

Equity financing available
 
 

Revolving Rural Loan Fund

BORROWER Any primary sector business
FUNDING LIMIT Up to $1,000,000 and based on job 
requirement
INTEREST RATE Lower than market rate - subject to risk 
of project
TERM Working capital 1-3 years, 
Equipment 3-5 years, 
Real estate 7-10 years
MINIMUM EQUITY
REQUIREMENTS
15%
PERSONAL/CORPORATE
GUARANTEES
Yes
QUALIFICATIONS A North Dakota business
COST AND FEES 1% of original loan or equity balance
MISCELLANEOUS For businesses located in cities with a 
population of less than 8,000 or more than 
5 miles outside city limits

Loan amount based on job creation of 
$50,000 per FTE created

Equity financing available
 
 

Rural Incentive Growth Program

BORROWER Cities with population of less than 2,500
FUNDING LIMIT Maximum of $75,000
INTEREST RATE Lower than market rate - subject to risk of 
project
TERM Working capital 1-3 years, 
Equipment 3-5 years, 
Real estate 7-10 years
MINIMUM EQUITY
REQUIREMENT
15%
PERSONAL/CORPORATE
GUARANTEES
Yes
QUALIFICATIONS A North Dakota business that provides 
a community an essential service with 
ND Dept. of Commerce Commissioner 
approval
COST AND FEES 1% of original loan or equity balance
MISCELLANEOUS The loan is made to the city 
which in turn loans to the business

Does not have a job requirement
 
 

Childcare Loan Program

BORROWER Any licensed childcare center
FUNDING LIMIT Maximum of $100,000 or availability of funds
INTEREST RATE 2.5% - Subject to risk of project
TERM Working capital 1-3 years,
Equipment 3-5 years,
Real estate 7-10 years
MINIMUM EQUITY
REQUIREMENT
15%
PERSONAL/CORPORATE
GUARANTEES
Yes
QUALIFICATIONS A licensed North Dakota childcare provider
COST AND FEES Negotiable
MISCELLANEOUS Does not have a job requirement
 
 

New Venture Capital Program

BORROWER Any primary sector business
FUNDING LIMIT Up to $300,000
INTEREST RATE Lower than market rate - Subject to risk of
project
TERM Working capital 1-3 years,
Equipment 3-5 years,
Real estate 7-10 years
MINIMUM EQUITY
REQUIREMENT
15%
PERSONAL/CORPORATE
GUARANTEES
Yes
QUALIFICATIONS A North Dakota business
COST AND FEES 1% of original loan or equity balance
MISCELLANEOUS Does not have a job requirement

Equity financing available
 
 

Small Business Technology Program

BORROWER Any start-up primary sector business in
technology field
FUNDING LIMIT Maximum of $50,000
INTEREST RATE Lower than market rate subject to risk of
project
TERM Proof of concept 1-5 years,
equipment 5-7 years,
real estate 10-15 years
MINIMUM EQUITY
REQUIRMENT
15%
PERSONAL/CORPORATE
GUARANTEE
Yes
QUALIFICATIONS A North Dakota Business
COST AND FEES 1% of original loan or equity balance
MISCELLANEOUS For every $1 of state funds, 
$2 of certified North Dakota
angel funds is required

Recipient may not receive more than
one investment 

Equity funding available

Does not have a job requirement

 
ND Development Fund Brochure
File Size: 334 kb

apuc banner 10 Reasons