North Dakota Opportunity FundLewis & Clark Development Group
LCD Group oversees the North Dakota Opportunity Fund, an innovative program that leverages private lending financing to help small businesses and manufacturers attain loans and critical investments needed to expand and create jobs. A consortium of 38 municipalities across North Dakota is eligible for participation in the program.
Frequently Asked Questions
What can the North Dakota Opportunity Fund be used for?
The fund may be used to finance construction, secure working capital, purchase real estate and equipment, and for interim SBA 504 loans.
Funds may not be used for: passive real estate, refinancing, payment of taxes, reimbursement of equity injection, or the purchase of any business ownership interest.
What are the rates and terms?
Interest rates ranging from four percent (4%) to market rate. Projects that have the highest development impact or provide assistance to underserved persons, or businesses impacted by natural disasters, are eligible for the most attractive rates.
Terms do vary by asset type and use of funds.
What about collateral?
All loans must be secured on a project-by-project basis. Loan proceeds may be up to $1 million but must not exceed 50 percent of the proposed project’s cost.
Who should I contact?
Matt Burthold will be happy to assist you.