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The North Dakota Development Fund, Inc. (NDDF) provides “flexible gap financing” through loans and equity investments not available from most conventional lenders or investors for the purpose of economic development. Funds are available to new and expanding North Dakota primary sector businesses.
The NDDF coordinates efforts between the sources of financing, the business, and the community. Any project considered for this financing must be feasible and have a reasonable chance of succeeding.
The NDDF makes investments of up to $3,000,000 through innovative financing mechanisms including direct loans, participation loans, and subordinated debt and equity investments.
The NDDF also administers the Regional Rural Revolving Loan Fund, Angel Match Program, and Child Care Loan Program.
NDDF Mission Statement:
The Funds principal mission is to provide flexible financing to catalyze the development and expansion of businesses in the state of North Dakota.
Board of Directors Meeting
Microsoft Teams
November 12th, 2026, 10:00 AM – 12:00 PM
10:00 AM: Call to Order
10:01 AM: Introductions
10:05 AM: Election of Chair Pro Tempore
10:10 AM: Consent Agenda
- Approval of Board Meeting Minutes
- Financial Report
10:15 AM: Annual Financial Audit
10:30 AM: Performance Audit
10:45 AM: Board Recommendations and Actions
11:00 AM: Executive Sessions - Not Open to the Public
- The authority for this Executive Session item is N.D.C.C. § 44-04-19.2, discussion of closed or confidential records; N.D.C.C. § 10-30.5-07(1), commercial or financial information of any entity in which an equity interest is purchased or considered for purchase, is confidential; and N.D.C.C. § 44-04-18.4(5), economic development records and information are exempt.
- Pipeline Discussion
- Portfolio Updates
11:55 AM: Other Items Not Addressed
12:00 PM: Adjourn
Meeting ID: 284 671 720 32
Passcode: WnMZcm
Dial in by phone
+1 701-328-0950,,881189001# United States, Fargo
Phone conference ID: 881 189 001#
Join on a video conferencing device
Tenant key: teams@join.nd.gov
Video ID: 117 248 514 3
Read these success stories that showcase the impactful achievements and transformative outcomes facilitated by the Development Fund.
North Dakota Development Fund, Inc. Programs
O’Leary Ventures (OLV) partnered to manage a $45 million direct investment program.
NDDF Staff
Brian Opp
701-328-7267
NDDF CEO
VACANT
NDDF Venture Financing Manager
Samantha Mattson
NDDF Venture and Credit Analyst
Jessica Hutchinson
701-328-7299
North Dakota Development Fund Associate Venture and Credit Analyst
NDDF Board of Directors
Joel Brown - Watford City Secretary/Treasurer Industrial Technology and Research Sector First International Bank & Trust | Anthony Bauer - Belcourt Native American Representative Sector North Dakota Indian Affairs |
| Lyndsay Ulrickson - Minot Finance Sector Bush Foundation |
| Kate Black - Bismarck Industrial Technology and Research Sector Inland Oil & Gas Corporation | Jeff Thomas - Fargo Finance Sector Cornerstone Bank |