Small Business Financing Programs in Minot

Government Loan Programs

Bank of North Dakota - Provides Loan Guarantees, Participation and Incentive Programs to North Dakota businesses.
     Beginning Entrepreneur Program - Loan Guarantee for first time business owners who are ND residents.
     Business Development Loan - Participation loan.  Any business can qualify.
     PACE / Flex PACE - Participation Loan and Interest buy down for Primary Sector (PACE) and Essential Service (Flex PACE) businesses creating new jobs.

Certified Development Company -    ND:  Dakota CDC  /  Lake Agassiz CDC  /  Lake Agassiz IRP/Micro Loan 
     504 Loan -  Building and Heavy Equipment Loans with reduced interest rates and longer loan terms.
     IRP Loan - Low interest loans for rural businesses (in towns under 25,000 population).
     Micro Loan -  Loans up to $35,000 for startups and gap lending.

Small Business Administration -  ND Office 
     7(a) Guarantee - 50%-85% guarantee for loans up to $2,000,000
     SBAExpress - 50% guarantee for line of credit and term loans up to $350,000.
     Community Express -   85% guarantee for loans and consulting assistance to minorities and disadvantages groups.
     Patriot Express -  75%-85% guaranteed loans for veterans, active duty military, reservist, national guard and their spouses. 
     Rural Lender Advantage - 75%-85% guarantee for loans made by rural bank (all in ND & Moorhead).

USDA - Rural Development - ND Office
     Business & Industry Guarantee - 50%-80% guarantee for loans up to $25,000,000 to rural businesses (under 25,000 population - i.e. parts of West Fargo).

Note: All government loan programs require a lead lender (local bank) to participate.

 Gap Lenders

North Dakota Development Fund - Low interest loans, preferred stock investment, and equity investments for primary sector growth businesses.

Minot Area Development Corporation / Magic Fund - PACE participation, low interest loans, preferred stock investment, and equity investments for primary sector growth businesses focusing on job creation and financing fixed asset expansion.

Souris Basin Planning Council / Tri-County Regional Development Council - Rural Northwestern ND - Low interest loans through CDLF / RLF loan funds and preferred stock investments.

Note: All gap lending programs require a lead lender (local bank) to participate.

 Grants / Incentive Programs

North Dakota New Jobs Training / Workforce 2020 - Grant / Tax Rebate for the creation of new jobs and training employees in ND.

Rural Tech Ventures - Rural ND technical assistance grant for rural technology companies.

Ag Process Utilization Commission - North Dakota Grants for agricultural related businesses for marketing, prototype, and more.

PACE / Flex PACE - ND loan participation and grant for interest buy down up to 5% - Primary Sector,  job creation, local EDC participation required.

Child Care Resource & Referral - ND Office  Small Grants for safety equipment in ND / MN child care providers.

North Dakota Tax Incentives  - Property tax, income tax and sales tax esemptions for ND and MN companies.