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This page was last updated March 26, 2020 10 p.m.
Primary Sector Businesses. Loans and equity investments are available to companies certified as primary sector under the North Dakota Development Fund, Revolving Rural Loan Fund and the Venture Capital Program:
- Up to $1 million
- Lower than market interest rate
- Can be in the form of a loan or equity investment
- Funding can be used for working capital, equipment or real estate
Childcare Loan Program. Loans to certified daycares to ensure continuity.
- Up to $100,000
- 2.5% interest rate
Rural Growth Incentive Program Emergency Loans. Under this program, the Department may declare an emergency and make loans to “Essential Service Companies.” These include gas stations; pharmacies; grocers and, in some cases, restaurants.
- Communities with less than 2,500 in population are eligible
- The request to North Dakota Development Fund is a dollar-for-dollar match by the city
- A community can apply for $25,000 to $75,000 in matching funding
- Loan terms are based on individual needs
UPDATE: The North Dakota Development Board voted March 19, 2020 to suspend all payments, both principal and interest for all outstanding NDDF loans for 30 days, effective today.
The Department of Commerce has assigned a direct point of contact for each region in North Dakota. Click here for your local contact.