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Regional Rural Development Revolving Loan Fund is sponsored by North Dakota Development Fund. Provides funds for primary-sector projects located in a community of less than 8,000 in population or located more than 5 miles outside the city limits.
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Regional Rural Development Revolving Loan Fund | Commerce | North Dakota Regional Rural Development Revolving Loan Fund 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 than 8,000 or more than 5 miles outside city limits MISCELLANEOUS For business located than 8,000 or more than 5 miles Applications are reviewed on a first come, first-serve basis. Applications and supporting information should be submitted via email to Brian Opp .
For question regarding the Regional Rural Development Revolving Loan Fund, please contact Brian Opp , 701-328-7267. Accountability Information Release - NDDF NDDF Regional Rural Development Revolving Loan Fund Portfolio
According to the current listing, eligibility includes: Primary-sector businesses located in a community of less than 8,000 in population or more than five miles outside city limits; minimum 15% equity requirement. Confirm the full requirements in the official notice before applying.
The current listing shows up to $3,000,000 for debt financing or equity investments; average award $250,000-$300,000. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Regional Rural Development Revolving Loan Fund is funded by North Dakota Development Fund. Verify program details on the funder's official page before applying.
This opportunity targets applicants in North Dakota. If your organization operates elsewhere, check the official notice for location requirements.
Applications go through the funder's official portal — the Apply Now link on this page goes there directly.