Soon to be on tap: Junkyard Brewery expands into West Fargo

One year into its existence, the North Dakota Opportunity Fund’s Collateral Support Program continues to assist small businesses throughout the state.

The program provides pledged case collateral accounts with lending institutions within the NDOF’s consortium of 38 communities. Through these accounts, qualifying businesses are able to enhance their loan collateral through more favorable terms and conditions.

Matt Burthold, LCD Group commercial lending director, said the program is meeting a specific need that, over the years, has been cited by some lenders as lacking.

“The Collateral Support Program was created to give lenders another financing option for their clients. Many small business owners find when they are in the middle of the loan process that they have unique financing challenges. This program helps meet these needs. It has had a positive impact for those small businesses that have qualified in the year since the program launched,” notes Burthold.

The latest small business to benefit from the NDOF Collateral Support Program is Junkyard Brewing West Fargo, LLC.

Junkyard Brewing Expanding into West Fargo

Owners Michelle and Aaron Juhnke plan to open Junkyard Brewery’s location at 409 Sheyenne Street later this year. It’ll be their second location in the Fargo-Moorhead-West Fargo metro area. Junkyard Brewing’s original location is across the Red River in Moorhead. Opened there in 2012, Junkyard Brewing has endeared itself to local residents and beer aficionados throughout the region over the last decade.

When the former Bell Bank location opened up in downtown West Fargo, the Juhnkes decided to capitalize on the opportunity to open a second taproom. But, as Aaron Juhnke admits, it was not an easy process. There was a lot of paperwork involved and bureaucracy to navigate between both states. 

With everything now settled, work is currently underway in renovating the building from a bank into a destination brewery featuring a spacious main floor taproom, another second-floor bar, along with outdoor patio and rooftop seating. The West Fargo brewery will be a retail location only. No beer will be produced on the premises but will be provided by the company’s Moorhead location.

In an interview with the Fargo Forum, Michelle Juhnke said they are excited to be joining the West Fargo business community and plan to become a staple in the life of the city.

“Our goal is to be more than just a place to grab a cold one. We want to work with local businesses and artists, host food trucks, charitable events and fundraisers, and create a welcoming, community-friendly atmosphere where everyone feels at home,” Juhnke said.

Burthold says Junkyard Brewing is very much a sound investment.

“The Juhnkes are clients you want to work with,” adds Burthold. “In a little over a decade since opening their brewery in Moorhead, Junkyard Brewing has grown year-over-year and maintains minimal debt.”

Burthold goes on to praise the business as a “well-managed company” and compliments the Juhnkes on their vision for the expansion.

“Michelle and Aaron have a clear vision for their new West Fargo location. For the North Dakota Opportunity Fund Steering Committee, this was a no-brainer. We’re delighted to play a small part in the couple’s new business endeavor.” 

About the North Dakota Opportunity Fund

Lewis & Clark Development Group oversees the North Dakota Opportunity Fund, an innovative program that leverages private lending to help small businesses and manufacturers attain the financing needed to expand and create jobs.

Businesses located in the NDOF consortium of 38 municipalities are eligible for participation in the program. NDOF financing can be used for: construction, equipment, working capital, real estate, and interim SBA 504 loans.

Since 2012, the NDOF has disbursed almost $30 million in loan proceeds.

Click here for more information about the North Dakota Opportunity Fund or contact LCD Group Commercial Lending Director Matt Burthold at (701) 667-7601 or at matt@lcdgroup.org today. 
 

Credit and Sources: Junkyard Brewing Company; Fargo ForumLumion

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