Coronavirus (COVID-19) Relief Center
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North Dakota
These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on August 4, 2020.
For more up-to-date information on the relief programs available in North Dakota, we recommend that you visit the state’s COVID-19 Resources website.
Description of Program and Relief
Development Fund Loans
Loans and equity investments are available to companies certified as “primary sector.” “Primary sector” includes individuals and businesses which, through the employment of knowledge or labor, add value to a product, process, or service that results in the creation of new wealth. “Primary sector” includes tourism and specific types of investor-owned agriculture and is typically businesses such as manufacturers, food processors, or export service companies. “Investor-owned agriculture” includes livestock feeding or milking operations or other value-added agriculture located apart from an individual farm operation that is professionally managed and has employees.
These loans can be for up to $1 million, are made at below-market interest rates, and can be in the form of a loan or equity investment. The funding can be used for working capital, equipment, or real estate.
Government or Lead Agency
North Dakota Department of Commerce
Dates Available
Available now
Eligibility Requirements/Restrictions
In order for a borrower to be eligible for these loans, it must meet the following eligibility requirements: (i) borrower must be in a “primary sector;” (ii) borrower must contribute an equity stake representing, at a minimum, 15% of the loan; (iii) borrower and its equityholders must provide corporate and personal guarantees on the loan; (iv) borrower must be a North Dakota business; and (v) borrower must be located in a city with a population of 8,000 or more.
Application Deadlines (If Applicable)
N/A
Contact for More Information
zwmanstrom@nd.gov
List of Additional Information
© 2021 Paul, Weiss, Rifkind, Wharton & Garrison LLP. This does not constitute legal advice and does not create an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. Past representations are no guarantee of future outcomes.