Legacy Investment for Technology Loan Fund

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The Legacy Investment for Technology Loan Fund (LIFT) provides low-interest, debt financing to support innovative businesses that diversify North Dakota’s economy in the following industries: 

  • Advanced computing and data management
  • Agriculture technology
  • Autonomous and uncrewed vehicles and related technologies
  • Energy
  • Health care
  • Value-added agriculture
  • Value-added energy
  • Any industry or area specifically identified by the committee as an industry that will contribute to the diversification of the state’s economy.

Application Deadlines and Quarterly Funding Review Meetings:

Meeting #Application OpensApplication DeadlineMeeting DateLocation
1June 16, 2025July 25, 2025October 22, 2025Fargo
2September 22, 2025October 24, 2025January 21, 2026Bismarck
3December 22, 2025January 23, 2026April 22, 2026TBD
4March 24, 2026April 24, 2026July 22, 2026TBD
5June 23, 2026July 24, 2026October 21, 2026TBD
6September 22, 2026October 23, 2026January 20, 2027TBD
7December 21, 2026January 22, 2027April 21, 2027TBD

Eligibility and Uses of Funds:

The use of the loan funds is available to enhance capacity and to the extent possible, leverage state, federal and private sources of funding.

To be eligible for funding, applicants must:

  • Be commercializing intellectual property (IP) in North Dakota
  • Operate within, or have significant investment in, North Dakota and clearly demonstrate meaningful economic benefit to the state
  • If out-of-state, demonstrate substantial economic benefit to North Dakota (e.g., relocating principal business operations or establishing a significant operational presence in the state)
  • Present a feasible project with a reasonable likelihood of success

Eligible Uses of funds: Working capital expenses directly related to the approved project and used to conduct applied research, experimentation, and operational testing within the state, unless otherwise specifically approved by the Committee.

Ineligible Uses of funds:

  • Capital or building investments
  • Equipment purchases
  • Inventory
  • Consulting services and fees (i.e., finders fees and monthly retainers)
  • Academic research or instructional programming
  • Workforce training
  • Administrative costs
  • Supplant funding for regular operations of institutions of higher education

Terms and conditions of the loan:

  • Years 1-3: 0% interest, no required payments
  • Years 4-5: 2% interest with monthly interest payments
  • Year 5: Principal is due at maturity, at the end of five years.  In certain circumstances, and upon approval by the Bank of North Dakota, the loan may be extended at the beginning of year six, at an interest rate equal to a standard Bank of North Dakota rate for all subsequent years.
  • Drawdown: Funds will be disbursed in accordance with approved contingencies and milestones. The draw period ends 18 months after the loan origination date.

 

LIFT Fact Sheet

LIFT FAQ

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Carla Valentine

For more information on the Legacy Investment for Technology Loan Fund, contact Carla Valentine.

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LIFT Committee Members

Erik Barner

Barner, a graduate of the University of St. Thomas (2007) and Columbia Business School (2013) is a Fargo native and founder of Broadwater Capital.  Barner has over a decade of institutional finance experience, predominantly in buyside investing roles in both public and private companies, with roles held throughout the country before he returned to North Dakota in 2017. 

Vern Dosch

Vern  has been married to his wife Lynne for 39 years.  They have two sons, a daughter and eight grandchildren. Vern has received Degrees from the University of Mary in Business, Accounting, Masters of Management and an Honorary Doctorate in Leadership.

Vern Dosch served the Rural Electric and Telecommunication Industry for 45 years, most recently  as the president and CEO of the National Information Solutions Cooperative (NISC) from 2002 to 2020. NISC is an information technology company that develops and supports accounting, billing and engineering software for more than 860 electric cooperatives, telephone companies, municipalities and broadband providers in all 50 states, American Samoa, Palau and Canada.

Vern has served on the Boards of CHI St. Alexus Medical Center, University of Mary, Bismarck State College Foundation, Starion Bank, Light of Christ Capital Campaign, God’s Child Project Foundation, Higher Education Roundtable, Capital Grounds Planning Commission, Yellowstone Strategies, The Gaia Home Project, and Missouri Valley United Way. Vern retired from NISC in January of 2020. In March of 2020 he answered the call to assist the State of North Dakota in software development for the Covid-19 fight. In October of 2021, at the National Press Club in Washington, DC,  Vern was inducted into the National Cooperative Hall of Fame.

Michael Jablon 

Michael Jablon, senior director of information at Aldevron, leads information systems initiatives to improve efficiency, streamline operations, optimize information security and design innovative systems that enable Aldevron’s clients to more rapidly advance treatments and gene therapies for their patients. Jablon joined Aldevron in 2008 as a director and program manager. He served in various leadership roles in program management, contract management and information systems management. Jablon has 20 years of combined experience in information systems and project management and serves as an adjunct professor at the Offutt School of Business at Concordia College specializing in management information systems. 

Prior to joining Aldevron, Jablon held a leadership role at custom engineering firm Appareo, which specialized in commercial electronics and software applications for the aviation industry. Prior to that, he was a senior manager at global software development and service provider SEI.

Jablon holds a Master of Business Administration with undergraduate degrees in economics and communication from North Dakota State University. Jablon resides in Fargo with his wife, Karen, and their three children.

Randy Schneider 

Schneider has 39 years experience as a certified public account, business advisor and tax consultant in the manufacturing, real estate, transportation, production agriculture, bio science and construction industries. Schneider holds a verifiable track record for completing multimillion-dollar projects. 

Schneider is currently a board member and treasurer of the North Dakota Bio Science Association. He previously served on the board of North Dakota Energy Policy Commission, North Dakota Renewable Energy Council, North Dakota Ethanol Producers Association, US BIO Hankinson and the Regional International Trade Industrial Development Association. Schneider also served as the chairman for the North Dakota Manufacturing Extension Partnership Inc., president of the North Dakota Ethanol Producers Association and was a funding shareholder and treasurer of Ideal Energy Corporation. 

Schneider is a certified public accountant and holds a Bachelor of Science in Business Administration from the University of North Dakota.  

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