Lewis & Clark RDC commits funds for two Mandan businesses

Lewis & Clark Regional Development Council (RDC) recently approved loans through the North Dakota Opportunity Fund and the IRP MandanII funds for two separate businesses in Mandan.

New Runnings Store
The IRP MandanII funds are for JR&RII, LLC which has purchased the building at 504 and 511 West Main in Mandan. Once renovated, the building will be home to the new and expanded Runnings Store location. The lead lender for this project is First Dakota National Bank of Pierre, South Dakota. The IRP MandanII loan funds will be used for the local Community match to the Bank of North Dakota’s Flex PACE interest buydown program.

Expansion for Malloy Electric
The North Dakota Opportunity Funds are for EC-ND Investments LLC which will house the expanded Malloy Electric building at 1401 Action Drive in Mandan. The lead lender for this project is US Bank from Sioux Falls, South Dakota. NDOF funds will also be used for the local Community Match to BND’s Flex PACE interest buydown program.
 
To learn more about the IRP MandanII Fund and the North Dakota Opportunity Fund, contact Matt Burthold at (701) 667-7601 or at matt@lcdgroup.org.