Development projects win loan funding
BISMARCK—North Dakota Development Fund, a loan program with the North Dakota Department of Commerce, has awarded funding for three projects totaling $901,100.
The following requests were funded:
Myriad Mobile in Fargo was awarded a $500,000 loan to provide funding for the purchase of INet Solutions Group Inc. Myriad Mobile develops mobile applications to help businesses become more effective and efficient.
Proof Distillery, Fargo, was awarded a $302,200 loan to fund capital expansion costs. The company is a craft distillery producing numerous spirits from local products, including potatoes, barley and corn.
Sunny Days Daycare, Jamestown, was awarded a $100,000 loan to fund a planned expansion. The company provides day care services in the Jamestown area.
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.