Medium

The NDDF administers the Regional Rural Development Revolving Loan Fund, which provides flexible gap financing to primary sector businesses located in a community of less than 8,000 in population or located more than five miles outside of city limits. Funds are available through direct loans, participation loans, subordinated debt and equity investments.

Use of funds: The Regional Rural Development Revolving Loan Fund 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 Award: $300,000
  FUNDING LIMIT Up to $3,000,000
Average Award: $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.
MISCELLANEOUS For business located
in cities with a
population of less
than 8,000 or more than 5 miles
outside city limits
  MISCELLANEOUS For business located
in cities with a
population of less
than 8,000 or more than 5 miles
outside city limits

 

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 Regional Rural Development Revolving Loan Fund, please contact Hannah Lange, 701-328-7254.

NDDF Application

Application Guide
 

Accountability Information Release - NDDF

Medium

NDDF Regional Rural Development Revolving Loan Fund Portfolio

 

Ag-Tech

Autonomous Tractor

 

 

 

 

Aviation

Tri-State Aviation

 

 

 

Energy

Cerilon

 

 

 

Manufacturing

Biomagnetic

Manufacturing

Dan's Tank Company

Manufacturing

Hoefer Group

Manufacturing

Plasticom

Manufacturing

Summers Manufacturing

Other Technology

AWM Staffing

Other Technology

Lewis and Clark Regional Council

Value-Added Ag

Dakota Valley Growers

Value-Added Ag

Fetting's Frozen Foods

Value-Added Ag

Giant Snacks

Manufacturing

 

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