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 |
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FUNDING LIMIT |
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TYPE | Loan |
INTEREST RATE |
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TERM | 5 years |
PAYMENT | Interest only monthly for 2 years followed by 3 years of principal and interest. |
PERSONAL/CORPORATE GUARANTEES |
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SECURITY | All business assets |
COST AND FEES | 1% 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.
Accountability Information Release - NDDF