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North Dakota Development Fund
NDDF 2nd & 3rd Quarter Newsletter – April-Sept 2018

ND Development Fun Approves Projects

  • The Learning Circle Inc. – Infant Center - $50,000 (Fargo) Funding used to purchase an existing daycare center in Fargo, ND.
  • The Learning Circle Inc. – Sport Bubble - $100,000 (Fargo) Funding used to purchase an existing daycare in Fargo, ND.
  • The Learning Circle Inc. – West - $100,000 (West Fargo) Funding used to purchase an existing daycare in West Fargo, ND.
  • Here We Grow at the Learning Circle, Inc. $85,000 (Fargo) Funding used to purchase an existing daycare in Fargo, ND.
  • All 4 Learning Childcare Center - $60,000 (Grand Forks) Funding used to start a new childcare center in Grand Forks, ND.
  • Children of Hope Childcare, LLC - $100,000 (Fargo) Funding used for leasehold improvements to convert an existing building into a larger consolidated daycare center location.
  • Rise & Shine Daycare - $93,750 (Bowman) Funding used for improvements and an expansion for additional daycare space.
  • Little Learners at The Learning Circle (Fargo) was awarded a $40,000 loan to purchase an existing childcare facility. The company provides daycare services for the Fargo area.
  • Lil’ Bloomers Childcare & Preschool, Inc. @Osgood (Fargo) was awarded a $50,000 loan to improve their existing facility. The company provides daycare services for the Fargo area.
  • KidVentures Child Care & Preschool, Inc. (Horace) was awarded a $10,000 loan to improve their existing facility. The company provides daycare services for the Horace area.
  • From Friends to Family Childcare LLC (West Fargo) was awarded a $10,000 loan to assist with working capital needs. The company provides daycare services for the West Fargo area.
  • Beginnings Learning Center Inc. (West Fargo) was awarded an $83,025 loan to assist in working capital needs. The company provides daycare services in the West Fargo area.
  • Chelsey Maracle (Jamestown) was awarded a $35,000 loan to purchase the assets of an existing daycare center. The company provides daycare services in the Jamestown area.
  • The Koble Group, LLC - (Grand Forks) was awarded a $200,000 loan to fund working capital. The Koble Group is a technology-based company for healthcare providers.
  • Omnibyte Technology, Inc. - $125,000 (Fargo) Funding provided for working capital needs. Company provides Mobile, Web and Automation solutions and services for Field Service organizations.
  • Fetting’s Frozen Foods, LLC - $400,000 (Finley) Funding was an equity investment to fund working capital and to upgrade their plant facilities. The company processes frozen foods.
  • Skid-lift LLC - $90,200 (Fargo) was awarded a loan to purchase new equipment for in-house manufacturing of their skid-lift product and provide working capital. Company produces a scissor lift that’s compatible with a skid-steer to utilize the functionality of the skid-steer to move and power the lift.  
  • Home Innovation Holdings LLC (Fargo) was awarded a $100,000 revolving line of credit to assist with inventory needs and a $20,000 loan to assist with other working capital needs. The company produces a product for the construction industry called the “Door Stud.”
  • 3DomFuel, LLC (Fargo) was awarded a $120,000 revolving line of credit to assist with working capital needs. The company manufactures filament for the 3D printing industry.
  • Ayurvedic Resources (Hillsboro) was awarded a $13,000 loan to purchase inventory and provide working capital. The company manufactures holistic medicine for sale either on a contract basis or direct to customers.
  • Heimbuch Potatoes (Cogswell) was awarded a $177,250 loan for the purchase of new equipment. The company is a potato processing plant.
  • Krampade LLC (Grand Forks) was awarded a $60,000 equity investment to fund the purchase of equipment, leasehold improvements and working capital needs. The company produces a powder to be used as a mix in water to help with relief of muscle cramps.

Funding for Rural Primary Sector Business Available 

The North Dakota Revolving Rural Loan Fund provides flexible gap financing for new or expanding primary sector businesses in North Dakota; located in cities with a population of less than 8,000 or the business is located more than 5 miles outside the city limits. The fund is a flexible source of financing, in partnership with private sources. If a business can't handle added debt, the Development Fund can take an equity financing position.

Eligible primary sectory businesses can receive up to $1,000,000 (based on job requirement). The fund also offers a lower than market interest rate, subject to risk of project.

Skid-Lift, LLC 

It all started with scaffolding. Fifteen years ago, Paul Wick was working part-time on a construction crew and becoming increasingly frustrated with the amount of time it took to move scaffolding over uneven terrain while working around buildings. Eyeing a skid steer at the construction site, Wick figured there had to be a way to use the machine with a lift to improve both job efficiency and safety. He proposed his idea to Guy Nelson, president and founder of Fargo-based Anvil Design and Manufacturing, and the pair shared design ideas on and off for several years.

Eventually, Nelson decided to get serious about their concept and subsequently devoted an entire Christmas holiday to honing their design. The result? A product that could pair the advantage of a scissor lift with the flexibility and hydraulic system of a skid steer. Over the next several months, while maintaining their day jobs, Wick and Nelson fine-tuned the design they came to call Skid-Lift. The duo agreed to a 50/50 ownership of the company and secured a provisional patent for their product. Now, they needed funding.

At first, Wick and Nelson turned to private investors for seed money for their initial production run. “We built the first eight units, sold them and paid off [our] debts … it was real bootstrapping,” explains Nelson. As the business partners continued to look for ways to fund their growth, Bank Forward introduced them to the North
Dakota Development Fund.

“The Development Fund is a resource that, quite honestly, we had no clue about,” says Nelson. “Once we got on the path of working with the Development Fund - and getting some capital and being able to use the low interest and the buy-down – it worked really great for us.”

Thus far, business is good. Skid-Lift has expanded to eight employees, with Wick now working full-time for the company. The business is housed in the same building as Nelson’s Anvil Design and Manufacturing business, enabling the companies to share not just real estate and equipment, but also contracting work. The Development Fund has been – and will be – a key component to Skid-Lift’s growth, according to Nelson. “We are still using that capital money as a line of credit as we continue to improve our design and marketing [plans] to move the business forward,” adds Wick. “We have increased the product line from one model of lift to three since the Development Fund[ing] took place.”

Meet our Board Member: Scott Davis

ScottDavis.jpgScott J. Davis was appointed Executive Director of the North Dakota Indian Affairs Commission in April 2009 by Gov. John Hoeven. As Executive Director, he serves at a cabinet level between North Dakota's state and tribal governments to address issues regarding education systems, court systems, economic development, social services, gaming, oil-energy, law enforcement, transportation, healthcare systems, veterans and youth.

Prior to his appointment, Davis served in a number of capacities at United Tribes Technical College in Bismarck, including Development Officer, Wellness Activities Coordinator, Facilitator and Adjunct Instructor.

Davis also worked for the Standing Rock Sioux Tribe on environmental quality issues and as a teacher and coach at the Pierre Indian Learning Center and Turtle Mountain Community High School. In addition, he worked as a sales consultant for Northern Documents, a West Fargo company that produces products for private and public groups, including Indian Health Services, the Bureau of Indian Affairs and tribal, state and local government agencies.

Davis holds an Associate of Arts Degree from Haskell Indian Nations University, and a Bachelor's degree in Business and Masters of Management Degree from the University of Mary, and is graduate of the Bush Foundation Native Nations Rebuilders Program and Executive Education at the Harvard Kennedy School of Government. He is a member of the Standing Rock Sioux Tribe and a descendent of the Turtle Mountain Band of Chippewa.
The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. Primary sector businesses create new wealth and are typically manufacturers, food processors and exported service companies.

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