North Dakota Development Fund

The North Dakota Development Fund, Inc. (NDDF) provides “flexible gap financing” through loans and equity investments not available from most conventional lenders 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. Any request of $150,000 or more must be reviewed and approved by the NDDF Board of Directors.

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.

Development Fund Fact Sheet

Online Banking Login


North Dakota Development Fund, Inc. Programs


NDDF Staff

Shayden Akason  Jessica Nygaard

Shayden Akason
Deputy Director/Head of Investment and Innovation

Jessica Tooke

NDDF Venture Financing Manager

Samantha Mattson
NDDF Venture and Credit Analyst

NDDF Board of Directors

Jim Albrecht - Wahpeton
Manufacturing/Rural Sector
Comdel Innovations

Erik Barner - Fargo
Vice President
Finance Sector
Broadwater Capital

Robert Lindberg - Bismarck
Industrial Technology and Research Sector
Anthony Bauer - Belcourt
Native American Representative Sector
North Dakota Indian Affairs

Joshua L. Teigen - Fargo
Department of Commerce Commissioner


Lindsay Ulrickson - Minot
Finance Sector
Bush Foundation

Joel Brown - Watford City
Industrial Technology and Research Sector
First International Bank & Trust

Jeff Thomas - Fargo
Finance Sector
Cornerstone Bank