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 | Venture Capital Loan Program
Venture Capital Loan Program

venture.jpg

Rapid growth companies can look to the Venture Capital Fund as a possible source of equity.

The New Venture Capital Program is an innovative financial program that provides flexible financing through debt and equity investments for new or expanding businesses in the state of North Dakota. The program is administered through the North Dakota Development and offered through the Bank of North Dakota. It can fund rapidly growing companies which require equity funding.

The Bank of North Dakota may provide funding for early stage companies which can show clear proof of completed product development and market acceptance as evidenced by growing sales. They will invest in a variety of technologies and types of businesses, including North Dakota Department of Commerce strategic target industries. The Bank of North Dakota will also invest in growth and later stage manufacturing, service and businesses with profitable growth potential.

For more information about this program, contact:

North Dakota Development Fund
PO Box 2057
Bismarck ND 58502-2057
(701) 328-5300
Email: commerce@nd.gov


To Apply for the New Venture Capital Program

NDDF Application
File Size: 349 kb



Qualifying Requirements

  • North Dakota industries or businesses that will benefit the state and/or local communities.
  • A successful and experienced management team.
  • Cooperative management predisposed to communicate and work closely with outside investors toward common goals.
  • A market with favorable size, growth and competitive characteristics.
  • Adequate capital being raised to support operating objectives.
  • Companies working to commercialize university developed technology within the North Dakota University System.

Loan Limits

The New Venture Capital Program will invest up to $300,000 with appropriate capital structures favoring the following investment instruments:

  • Subordinated debt with warrants to acquire common stock.
  • Preferred stock with warrants to acquire common stock.
  • Common stock.

Use of Proceeds

The Bank of North Dakota's capital may be used to develop production and increase sales growth and management capabilities.
 
apuc banner 10 Reasons