Available Programs

Businesses located in Burleigh, Emmons, Grant, Kidder, McLean, Mercer, Morton, Oliver, Sheridan, and Sioux counties are eligible to apply for range of loan programs.

Capital I Fund

The CAPITAL I Fund is a blend of local funds and funds from the EDA. Its purpose is to provide flexible and accessible loans to for profit businesses within the Region.

Who or What is Eligible?

  • Must be located in a 10-county region (Burleigh, Emmons, Grant, Kidder, McLean, Mercer, Morton, Oliver, Sheridan and Sioux counties)
  • For-Profit Businesses
  • Cooperatives

What can funds be used for?

Uses include purchase or leasing of real estate, equipment, inventory, working capital.

Rates, Terms, Limits, and Fees

Loan limits are between $5,000-$100,000 per loan.

Capital II Fund

The CAPITAL II Fund is a blend of local funds and funds from USDA-Rural Development. Its purpose is to provide flexible and accessible loans to for-profit businesses and cooperatives within the Region, except within the City of Bismarck.

Who or What is Eligible?

  • Must be located in a 10-county region (Burleigh, Emmons, Grant, Kidder, McLean, Mercer, Morton, Oliver, Sheridan and Sioux counties)
  • For-Profit Businesses
  • Not-for-Profit Businesses
  • Cooperatives

What can funds be used for?

Uses include purchase or leasing of real estate, equipment, inventory, working capital.

Rates, Terms, Limits, and Fees

The limit is $150,000 per loan.

Community Development Loan Fund (CDLF)

The Community Development Loan Fund (CDLF) is available to businesses located in all cities and counties within the Region (except the City of Bismarck) for economic development infrastructure or to make loans to businesses creating or saving jobs for low and moderate income persons.

Who or What is Eligible?

  • Must be located in a 10-county region (Burleigh, Emmons, Grant, Kidder, McLean, Mercer, Morton, Oliver, Sheridan and Sioux counties)
  • For-Profit Businesses
  • Not-for-Profit Businesses
  • Cooperatives

What can funds be used for?

Uses include purchase or leasing of real estate, equipment, inventory, working capital.

Rates, Terms, Limits, and Fees

Loan limits for primary sector businesses are $15,000-$500,000 and retail businesses are limited to $10,000-$150,000.

Frequently Asked Questions

 

What are the eligibility requirements for these programs?

Our regional loan programs are designed for projects in our designated 10 county region. All for-profit not-for-profit businesses along with cooperatives are eligible to apply for funding, which may used for real estate, equipment, inventory, and working capital.

Are there any specific criteria to apply?

Applicants must document their ability to service the debt, have satisfactory credit history, offer acceptable collateral, and show that new jobs will be created or current jobs will be saved.

What are the rates, terms, and fees?

Rates are determined on a project-by-project basis, but generally are below market rate. Terms vary based on the useful life of the collateral. And borrowers are generally required to pay an origination fee and all hard costs.

LCD Group’s Regional Loan expert:

Matt Burthold

  • Commercial Lending Director, Lewis & Clark Development Group (2013 – Present)
  • Business Programs Specialist, USDA Rural Development (1994 – 2013)
  • 35 years of business development and commercial lending experience
  • Certified Economic Development Professional – National Development Council
  • SBA 504 Loan Packaging and Loan Closing Certification – National Association of Development Companies

Contact Matt

(701) 667-7601

Are you an individual, business, or government rep looking for funding?

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