LIFT Program

LIFT Program is sponsored by North Dakota Department of Commerce. Provides financing for the commercialization of intellectual property within North Dakota, supporting technology advancement and economic growth.

Legacy Investment for Technology Loan Fund | Commerce | North Dakota Legacy Investment for Technology Loan Fund Application period open July 1, 2026 - 9 a. m.

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 Autonomous and uncrewed vehicles and related technologies 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: Application Opens Application Deadline Meeting Date Location July 1, 2026 - 9 a. m. July 30, 2026 - 5 p.

m. September 16, 2026 TBD October 5, 2026 - 9 a. m.

November 9, 2026 - 5 p. m. January 13, 2027 TBD February 2, 2027 - 9 a.

m. March 4, 2027 - 5 p. m.

April 14, 2027 TBD May 4, 2027 - 9 a. m. June 3, 2027 - 5 p.

m. July 14, 2027 TBD 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 Consulting services and fees (i.e., finders fees and monthly retainers) Academic research or instructional programming 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.

For more information on the Legacy Investment for Technology Loan Fund, contact Carla Valentine . Complete and sign the LIFT Application Form (SFN 61662) Email the completed LIFT Application Form (SFN 61662) and all required supplemental documents to LIFT@nd.

gov. Required supplemental documentation: Historical financial statements (balance sheet, statement of cash flows, profit and loss statement, and tax returns for the past three years, or all years in existence if less than three years old) Three to five years of detailed financial projections (balance sheet, statement of cash flows, profit and loss statement) Description of the IP to be commercialized Market overview and viability Proposed use of LIFT funds All required documents must be submitted in the email for the application to be considered complete.

Incomplete applications will not be placed in the review queue. Review and Evaluation Process The review and evaluation process consists of five stages: Initial Screening – Program staff review applications for completeness and eligibility. Applications deemed incomplete or ineligible will not advance to the scoring phase.

Scoring Committee Review – Eligible applications will be evaluated by a scoring committee composed of representatives from the Department of Commerce and/or the Bank of North Dakota based on predetermined criteria. Presentation – Applicants with top aggregate scores are invited to present their proposal to the LIFT Committee.

Committee Decision – Applications recommended for funding are forwarded to the Bank of North Dakota for final loan underwriting and credit approval. Credit Approval – The Bank of North Dakota may request additional information for credit approval. The Bank of North Dakota has final loan approval including the amount of the loan and any contingencies or prior to funding requirements.

Please contact Carla Valentine , Program Manager, with any questions. Anderson recently retired as Commissioner from the North Dakota Department of Commerce in December of 2016.

Since then he’s served as the Interim President of the Bismarck Mandan Chamber of Commerce prior to their selection of a new President this year and he continually works as a volunteer for the University of Mary in their development and expansion of their new Engineering Program. As Commerce Commissioner he oversaw the lead agency responsible for attracting, retaining and expanding wealth in North Dakota.

He also has 30 years leadership and development experience in the oil and gas industry, serving on the management team for the Tesoro Corporation. Anderson has served on numerous boards including the Bismarck-Mandan Chamber of Commerce and Bismarck State College.

He was appointed to the North Dakota Oil and Gas Research Council, received the Hall of Fame award from the North Dakota Petroleum Council and has been active with Dickinson State University’s Business Challenge, the Missouri Slope United Way and the American Red Cross. Anderson is a native of Underwood, North Dakota.

After serving four years in the United States Marine Corps, Anderson received a Bachelor of Science degree in Geological Engineering from the University of North Dakota and a Masters of Business Administration from the University of Utah. He and his wife, Kelly, have three children and five grandchildren. Erik Barner is the Founder and Managing Partner of Broadwater Capital, a Fargo-based investment firm.

He brings more than 15 years of experience in private equity, investment banking, and institutional asset management. Before founding Broadwater, Erik held roles with Norwest Mezzanine Partners, Piper Jaffray, Institutional Capital, and Gen7 Investments, where he developed broad expertise in sourcing, structuring, and managing investments across diverse industries.

He serves on the board of HIA Health Hospice, is a member of the Finance and Investment Committee for Dakota Medical Foundation and advises several other business boards. Erik is a graduate of the University of St. Thomas and earned his MBA from Columbia Business School.

A Fargo native, he resides in the community with his wife, Whitney, and their daughter. 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. Karna Loyland is currently SVP Commercial Banker for Bell Bank in their Grand Forks market.

Loyland graduated from St. Olaf College and earned her MBA in finance from the University of Minnesota. She worked at Alerus in Grand Forks for 22 years, holding leadership positions in commercial lending and deposits and worked on strategic growth and acquisition opportunities.

Most recently, she spent two years as a consultant to banks and privately held companies in the northern valley. She and her husband, Mike, farm in Thompson, ND and have two grown children. 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.