By ND Commerce Department
The North Dakota Development Fund, a funding program within the North Dakota Department of Commerce, awarded funding for four projects totaling $760,000 at its monthly board meeting held in April.
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. Primary sector businesses create new wealth and are typically manufacturers, food processors and export service companies.
The following requests were funded:
Little Keepers (Grand Forks) was awarded a $100,000 loan to provide funding for the startup of a daycare. The company provides daycare services for the Grand Forks area.
All 4 Learning Childcare Center (Grand Forks) was awarded a $60,000 loan to provide funding for the startup of a daycare. The company provides daycare services for the Grand Forks area.
The Koble Group (Grand Forks) was awarded a $200,000 loan to fund working capital. The Koble Group is a technology based company for healthcare providers.
Fetting’s Frozen Foods (Finley) was awarded a $400,000 equity investment to fund working capital and to upgrade their plant facilities. The company processes frozen foods.
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.