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North Dakota Development Fund Increases Funding Limits for Businesses to $1 Million
Post Date: Jun 30 2015

By ND Commerce
The North Dakota Development Fund, a loan program within the North Dakota Department of Commerce, announced today it has increased funding limits from $300,000 to $1 million.
“This increase in funding to $1 million will help businesses access capital to help support start-ups or expansion projects across our state,” North Dakota Development Fund CEO Dean Reese said. “North Dakota businesses in need of debt or equity financing can look to the Development Fund as a possible solution. The fund continues to be a valuable resource for business development, providing a strong return on investment for taxpayers and significantly contributing to job creation.”
Since the inception of the Development Fund in 1991, it has invested $103 million in 555 companies with over $33 million invested in rural communities. The investments have contributed to the projected creation of 10,683 primary sector jobs. The Development Fund helped seven start-up businesses begin operations in North Dakota in 2013 to 2014, four of which were in rural communities.
The North Dakota Development Fund 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.
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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