The North Dakota Department of Commerce announced today that five companies were approved for a total of $37,105,700 in loan funds through the North Dakota Development Fund, Inc. (NDDF) recently.
“The NDDF is committed to supporting projects that create jobs, strengthen North Dakota’s economy, and contribute to a more sustainable future,” said Commerce Head of Investments and Innovation, Shayden Akason. “These investments demonstrate our commitment to a diverse range of businesses that address critical needs in our communities.”
Loan Highlights:
- Heilman Properties LLC received a $450,000 loan to build a new daycare facility in Minot.
- Sweetlife Land Company LLC was approved for a $655,700 loan to expand an existing daycare facility in Fargo.
- YMCA of Cass and Clay Counties were awarded a $1,000,000 loan for the construction of a new daycare facility. These projects will increase access to childcare options for working families across the state.
- Valence Natural Gas Solutions secured a $3,000,000 loan to support the completion of six micro flare gas capture units, which will help reduce emissions and capture valuable natural gas resources.
- Cerilon was awarded a $32,000,000 loan for building the first large-scale, natural gas-fed Gas-to-Liquids (GTL) facility in North America. This facility boasts a daily processing capacity of approximately 24,000 barrels and incorporates cutting-edge carbon capture and storage technology, making it the first of its kind globally.
The North Dakota Development Fund, created in 1991, provides flexible funding for new or expanding North Dakota businesses and manages the Child Care Loan Program.
More information about the NDDF can be found at belegendary.link/North-Dakota-Development-Fund.