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Local business is the backbone of our communities. We are here to assist you as you look at starting or creating a business in our region. These resources serve as gap financing and are not intended to replace traditional funding. Learn more about the different funds below.
Questions pertaining to the loan programs can be directed to:
Teran Doerr, Executive Director
teran@rooseveltcuster.com
701.483.1241
Questions pertaining to the loan programs can be directed to:
Teran Doerr, Executive Director
teran@rooseveltcuster.com
701.483.1241
Rural Impact Fund
Your Southwest North Dakota resource to establish, enhance, or expand your business at any stage.
Standard Terms
Use of Funds
Standard Terms
- $50,000 Loan Maximum
- 10% of Equity Requirement
- Per Loan Interest Rates Determined
- Personal Guarantee Required
- 5-25 Year Maximum Terms
Use of Funds
- Equipment
- Real Estate
- Working Capital
| Rural Impact Fund Guidelines |
Badlands Fund
Your Southwest North Dakota resource for BND PACE and Flex PACE Programs.
Standard Terms
Use of Funds
Standard Terms
- $100,000 Loan Maximum
- 3 Year Buy Down Period
- 3%+ Starting Interest Rates
- Personal Guarantee Required
- 5-10 Year Maximum Terms
Use of Funds
- Business start-up and expansions
- New or expanding childcare facilities
- New, affordable multi-family housing
- Purchase of real estate
- Property improvements
- Equipment and creating working capital
| Badlands Fund Guidelines |
Roosevelt Fund
Your Southwest North Dakota resource to support business, build resilient communities, increase economic diversity, and create and retain jobs.
Standard Terms
Use of Funds
Standard Terms
- $400,000 Loan Maximum
- 10% Equity Requirement
- Per Loan Interest Rates Determined
- Personal Guarantee Required
- 5-25 Year Maximum Terms
Use of Funds
- Business start-up, expansions, acquisitions, construction, and refinancing
- Purchase of real estate
- Equipment
- Working capital
| Roosevelt Fund Guidelines |
Community Development Loan Fund (CDLF)
The Community Development Loan Fund (CDLF) was established to provide gap financing and equity investment for projects that will create or retain jobs for low to moderate income persons.
To be eligible a business must be located in Region VIII. A Request for Financial Assistance pre-application must be submitted to Roosevelt Custer Regional Council which will be evaluated by R-CRC staff and presented to the Loan Review committee. Approved projects will complete a final application which is forwarded to the North Dakota Department of Commerce Division of Community Services for final approval and financial award.
Funding is made available by Housing and Urban Development (HUD) through the ND DOC Division of Community Services.
Goals:
To be eligible a business must be located in Region VIII. A Request for Financial Assistance pre-application must be submitted to Roosevelt Custer Regional Council which will be evaluated by R-CRC staff and presented to the Loan Review committee. Approved projects will complete a final application which is forwarded to the North Dakota Department of Commerce Division of Community Services for final approval and financial award.
Funding is made available by Housing and Urban Development (HUD) through the ND DOC Division of Community Services.
Goals:
- Job Creation
- Value added manufacturing activities
- Diversification
- Retention and expansion of existing business
- Use of vacant buildings/facilities
- Retail Sector: Minimum loan $10,000, Maximum loan $300,000
- Primary Sector: Minimum loan $50,000, Maximum loan $500,000
- Equity requirement of 10%
- Match requirement is 1:1
- Term Limits: Building and Real Estate - 25 years, Equipment and Machinery - 10 years, Inventory and Working Capital - 5 years
- Lien Position: Acceptable positions are a first, second or shared second
- Interest rates are determined at the time of approval
- Projects are based on job creation/retention and must have a 51% minimum LMI benefit