Up to $65M in loan funds are available through the NDDF for the development and construction of a fertilizer facility within the state, generating high economic impact. Companies are asked to submit their proposals by September 5, 2023.

The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible funding through debt and equity investments for new or expanding North Dakota primary sector businesses. The fund also manages the Child Care Loan Program created by the North Dakota Legislature in 2009.

Fertilizer Loan Fund Review Process:

  1. Questions to Evaluation Team Due By August 11th
  2. Responses to Questions Published under the Fertilizer Loan Fund Review Process
  3. Proposal Deadline is September 5th at 5:00pm CST

Evaluation team to recommend one or more projects by September 12th. The recommended applicant(s) will be required to complete a North Dakota Development Fund Application and go through due diligence and underwriting. Applicant(s) may be subject to technical review by the Clean Sustainable Energy Authority. Upon completion of underwriting, applicant must pitch the North Dakota Development Fund board for a final funding decision.

**10 Page Limit + Appendices



Interest Rate: Market Rate (subject to evaluated risk of the project)

Length of Loan: To be Determined through underwriting process.


Recommended Documents to Include w/Proposal

  1. Pitch Deck
  2. Business Plan
  3. Tax Returns
  4. Financial Projections
  5. Economic Impact Analysis
  6. Technical Feasibility Report
  7. Letter(s) of Support


Financial Analysis (0-40):

  • Economic Impact and Financial Viability: Assessing the potential success and sustainability of the project both for the community and for the company.
  • Total CAPEX: Analyzing the alignment between the funding needed and the amount requested from the fund. Applicants leveraging more private capital will be scored higher.
  • Funding Sources: Understanding what funding has been secured and what additional funding is needed. Applicants that have already secured funding will score higher. Applicants that request less than the available $65M will score higher.
  • Other State/Federal Funds Received: Determining if any other governmental funds have been awarded for this project or are being pursued.

Technical Review, Compliance, ESG Considerations (0-20):

  • Credibility/Merit: Evaluating the legitimacy and merit of the project and management team.
  • Permitting: What permitting hurdles exist and have any permits already been obtained. 
  • Feedstock: Type and volume.  Processes and products that benefit North Dakota energy and agriculture will score higher.
  • ESG (Environmental, Social, Governance) Plan/Carbon Footprint: Evaluating the project's environmental responsibility and alignment with ESG principles.

Project Planning and Execution (0-20):

  • Project Timeliness: Ensuring that the proposed timelines are realistic and achievable.
  • Work Plan, Budget, and Schedule Maturity: Assessing the readiness and robustness of the project's planning elements.
  • Plan for Workforce and Training: Reviewing the strategies for staffing and skill development.
  • Letters of Support: Gauging support from stakeholders or third parties.

Market and Industry Analysis (0-20):

  • Facility Production Capability: Reviewing the capacity and efficiency of the production facility.
  • Location Considerations: Analyzing the site of the facility versus the location of required logistics, utilities, and markets.
  • Experience in Industry, Markets, and State: Assessing the track record and expertise within the relevant fields.
  • Market Timing with Local Demand: Examining the alignment of the project's timing with local market needs.


Direct all questions to Shayden Akason, Deputy Director/Head of Investment and Innovation