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Development Fund Awards Funding Requests Totaling $2.75 Million
Post Date: Mar 03 2017

By ND Commerce
Bismarck, N.D. -- The North Dakota Development Fund, a loan program within the North Dakota Department of Commerce, awarded funding for five projects totaling $2,750,000 at its monthly board meeting held in February.
 
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 export service companies.
 
The following requests were funded:
 
ZuluFly, LLC, (Fargo) was awarded a $350,000 loan to finance working capital needs. The company is a developer of real-time locating system and radio-frequency identification software solutions.
 
CoSchedule, LLC, (Bismarck) was awarded a $1,000,000 loan to finance working capital needs, equipment purchases and improvements needed to be made by the company based upon its planned expansion. CoSchedule develops software used in social media markets.
 
Plains Mobile, Inc., (Linton) was awarded a $400,000 loan to finance working capital needs, equipment purchases and improvements needed to be made by the company based upon its planned expansion. The company develops an integrated cloud-based software aimed at simplifying business systems that interact with people, equipment and mobile devices.
 
BotLink, LLC, (Fargo) was awarded $500,000 loan to be used to support planned growth. BotLink develops software and hardware for fully integrated operations platforms that combines real-time date delivery, control and safety.
 
Valley City-Barnes County Development Corporation, (Valley City) was awarded a $500,000 loan to assist with workforce training for Eagle Creek Software Services.
 
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.
 
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