The North Dakota Department of Commerce announced today that three companies were approved a total of $365,000 in loan funds through the North Dakota Development Fund (NDDF) during the first quarter of 2021.
“We are pleased with the applications received for the first quarter of the year,” North Dakota Department of Commerce Director of Economic Development and Finance Josh Teigen said. “As we continue to navigate the aftermath of 2020, we would like to remind businesses of the flexible funding options that the Development Fund offers for new and/or expanding businesses.”
First quarter of 2021 recipients:
- 3DomFuel Inc., a Fargo manufacturer of 3D printer filament, received $245,000 to purchase an additional filament production line and provide working capital to scale production.
- The Learning Circle Inc., Bright Horizons in Fargo received a $50,000 loan to purchase and fit up an existing childcare facility.
- Kiddie Korral 2.0, a non-profit childcare provider in Minot, received a $70,000 loan to assist in the purchase of a new facility to expand operations.
The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible funding through debt and equity investments for new or expanding North Dakota primary sector businesses. The fund also manages the Day Care Loan Program created by the North Dakota Legislature in 2009.
More information about the NDDF can be found at belegendary.link/North-Dakota-Development-Fund.