Advance ND

Medium
Medium

The North Dakota Development Fund's Advance ND awards "deal-closing" low interest loans to companies considering a new industrial project in North Dakota.  Advance ND will serve as a financial incentive for those companies whose projects would contribute significant capital investment, add value to North Dakota resources, and provide new employment opportunities to the state's economy.

*Industrial Projects include value added energy, value added agriculture, and manufacturing projects.

Companies are eligible for up to $20,000,000 through the program.  Award amounts are based on projects' total expected cost.  

The interest rate on the loan is 2%. Advance ND funding must be the last money into a project.

Use of funds: The Advance ND funds can be used for working capital, real estate, and equipment.  The funds cannot be used to refinance existing debt.

Advance ND
BORROWER

  • A company considering an industrial project in North Dakota. Project must have a minimum cost of $5,000,000.  

  • Must be primary sector certified.

FUNDING LIMIT

  • Up to 20% of total project cost.

  • Max funding amount: $20,000,000

TYPELoan
INTEREST RATE

  • 2% fixed rate.

  • Amortization schedule will vary based on project.

TERM5 years
PAYMENTInterest only monthly for 2 years followed by 3 years of principal and interest.
PERSONAL/CORPORATE
GUARANTEES

  • Personal guaranty required from any person with 20% or greater ownership in the business.  

  • Corporate guaranty from parent company required (if applicable). 

SECURITYAll business assets 
COST AND FEES1% of capital deployed plus any legal fees incurred by NDDF

 

Applications are reviewed on a first come, first-serve basis. Applications and supporting information should be submitted via email to Brian Opp.  

 

For question regarding Advance ND, please contact Brian Opp, 701-328-7267.

 

Advance ND Application

Application Guide

FAQ

Accountability Information Release - NDDF