The North Dakota Department of Commerce announced that 10 businesses have been approved for a combined total of $6,628,000 in loans through the North Dakota Development Fund, Inc. (NDDF). The funding aims to drive economic growth, create jobs, and address critical community needs across the state.
“The NDDF is dedicated to fostering growth by supporting projects that not only create jobs but also strengthen North Dakota’s economy and promote long-term sustainability,” said Shayden Akason, Head of Investments and Innovation at the Department of Commerce. “This round of investments highlights our commitment to addressing key community needs across a variety of sectors.”
Loan Recipients
The approved loans will fund projects ranging from energy solutions to child care facilities, underscoring the state’s focus on diverse economic growth.
- Valence Natural Gas Solutions LLC: $3,000,000 to complete deployment of four Micro Flare Gas Capture facilities.
- Blue Bowtie Properties, LLC: $472,500 to purchase an existing daycare business and building.
- Early Foundation LLC: $100,000 for working capital.
- Rise Above Childcare Center LLC: $260,000 to acquire an existing daycare business.
- St. Monica’s Montessori, Inc.: $750,000 to purchase a building for childcare expansion.
- 701x, Inc.: $1,062,500 to acquire DigitalBeef, a company acquisition project.
- Theratec, Inc.: $150,000 for working capital.
- Explorers Academy Jamestown, LLC: $296,250 for an expansion project.
- Small World Daycare LLC: $307,500 to construct a new facility.
- Kids 1st Daycare LLC: $229,250 to purchase a building for child care operations.
Established in 1991, the North Dakota Development Fund provides flexible financing options for new or expanding businesses in the state. It also oversees the Child Care Loan Program, which was instrumental in funding several of the approved projects.
These investments reflect a strategic effort to bolster the state’s infrastructure, particularly in child care, which is critical for supporting families and workforce participation. Additionally, the funding for energy and technology initiatives demonstrates North Dakota’s commitment to innovation and sustainability.
The NDDF’s continued support of local businesses not only fuels economic development but also ensures that communities across North Dakota thrive.
