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Development Fund Awards Funding Requests Totaling $718,025
Post Date: Sep 28 2018

Bismarck, N.D. -- The North Dakota Development Fund, a funding program within the North Dakota Department of Commerce, awarded funding for five projects totaling $718,025 at its September board meeting.
 
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 a daycare loan program created by the North Dakota Legislature in 2009.
 
The following requests were funded:
 
Packet Digital LLC (Fargo) has renewed its $500,000 line of credit for working capital needs. The company designs, develops, manufactures and markets power management solutions and products to enable higher system performance, miniaturization and integration for consumer electronics and computing applications for both private and governmental agencies.
 
Krampade LLC (Grand Forks) was awarded a $60,000 equity investment to fund the purchase of equipment, leasehold improvements and working capital needs. The company produces a powder to be used as a mix in water to help with relief of muscle cramps.
 
Little Learners as the Learning Circle Inc. (West Fargo) was awarded a $40,000 loan to purchase an existing childcare center in West Fargo. The company provides daycare services in the West Fargo area.
 
Beginnings Learning Center Inc. (West Fargo) was awarded an $83,025 loan to assist in working capital needs. The company provides daycare services in the West Fargo area.
 
Chelsey Maracle (Jamestown) was awarded a $35,000 loan to purchase the assets of an existing daycare center. The company provides daycare services in the Jamestown area.
 
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.
 
For more North Dakota news and information go to www.NDCommerce.com.
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