Medium

The NDDF provides flexible gap financing to new or expanding primary sector businesses in North Dakota. Funds are available through direct loans, participation loans, subordinated debt and equity investments.

Use of funds: The NDDF funds may be used to provide working capital or to finance the purchase of fixed assets, but not to refinance existing debt. Funds may be used to purchase real property and equipment, expand existing facilities, provide working capital, and purchase inventory.

Debt:   Equity:
BORROWER Any primary sector business   BORROWER Any primary sector business 
FUNDING LIMIT Up to $3,000,000 
Average Loan: $300,000
  FUNDING LIMIT Up to $3,000,000
Average convertible note: $250,000
INTEREST RATE Subject to risk of project   RATE OF RETURN

In cases of a preferred security or convertible note: Interest/Dividend Rate: Subject to risk of project

TERM 1-10 years, dependent upon project   TERM 1-10 years, dependent upon project
MINIMUM EQUITY
REQUIREMENT
15%   MINIMUM EQUITY REQUIREMENT 15%
PERSONAL/CORPORATE
GUARANTEES
Yes   PERSONAL/CORPORATE GUARANTEES No
COST AND FEES

1% of capital deployed plus any legal fees incurred by NDDF.

  COST AND FEES 1% of original loan or equity balance 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 hlange@nd.gov

For question regarding the NDDF, please contact Hannah Lange, 701-328-7254.

NDDF Application

Application Guide

FAQ

Accountability Information Release - NDDF

 

Additional Resources:

Vault North Dakota

SEC.gov - Small Business Capital Raising

Small Business Development Center

Medium

NDDF Ag-Tech Portfolio

701x

Loyalty Builders

Medium

NDDF Aviation Portfolio

Airtonomy

Ideal Aerosmith

Mobile Recon Systems
Medium

NDDF Bio Tech and Life Science Portfolio

 

Avianax

 

Checkable

Corvent

H-Cyte

Medium

NDDF Energy Portfolio

Red Trail Energy

 

Medium

NDDF Manufacturing Portfolio

BWR Innovations

c2 Renew

Dog ID's

Epic Welding

Good Bulb

KMC Enterprises

Krampade

Main Saver North

Paragon

Skid Lift

WalkeWise

 
Medium

NDDF Other Technology Portfolio

 

Avenue Right

 

Be More Colorful

Botlink

 

CoSchedule

 

DataCom

 

Energy Media Group

 

Landtrust

 

LUCIT

 

OmniByte

 

Packet Digital

 

Pedigree Technology

Relocator

RJ Energy Solutions

Safety Spect

SkyScopes

Tailorie

Koble

Vigilant Aerospace

ZulaFly

Farm QA

Project Phoenix

     
Medium

NDDF Value-Added Ag Portfolio

 

French Taste

 

 

Proof Artisan Distillers

Red Pine Distillery

 

Snack Shack