How To Build A Business - Access to Capital
Department of Commerce
The Department of Commerce (DOC), according to state century code, seeks to increase the state's standard of living through successful primary-sector investments. A primary-sector business is a value-added business that creates new wealth by bringing in money from outside the state through sales of goods and services. This emphasis not only exists for DOC, but for many of the state's business incentives and tools.
Primary-sector businesses typically include manufacturing, food processing, and technology-based services where a vast majority of revenue is generated from clients outside of North Dakota. It can also include other industries such as destination tourism, wholesale distribution and e-commerce where the new wealth qualification is met.
DOC has a formal primary-sector certification process for businesses seeking state incentives. While this certification does not guarantee the receipt of any North Dakota business incentive, it is the critical first step. There may be additional qualification criteria for each incentive.
To request the form needed to certify your company as a primary-sector business, call the ND DOC at (701) 328-5300.
Funding Programs
- Community Development Block Grant Program
- The CDBG program assists economic development projects by providing financial assistance to cities and counties. These funds are either in the form of a low interest loan or a grant for infrastructure, which provides assistance to businesses that will create jobs for low and moderate-income persons. To access the program contact the Regional Council in your area.
- North Dakota Agricultural Products Utilization Commission
- APUC creates new wealth and employment opportunities through the development of new and expanded uses of North Dakota agricultural products by administering six grant programs: basic and applied research, marketing and utilization, nature based agri-tourism, farm diversification, technical assistance, and prototype/technology.
- North Dakota Development Fund
- This fund was created to provide flexible "gap" financing through loans and equity investments. Funding is available to any primary-sector business, but does not include production agriculture except for investor-owned dairies and feedlots, which are detached from a farming operation and managed by a full-time professional manager.
- International Trade
- This fund was created to provide flexible "gap" financing through loans and equity investments. Funding is available to any primary-sector business, but does not include production agriculture except for investor-owned dairies and feedlots, which are detached from a farming operation and managed by a full-time professional manager.
Entrepreneur Centers of North Dakota (ECND)
Working together, neighbor helping neighbor, has been a way of live across the prairies of North Dakota. This philosophy of teamwork inspired the creation of the Entrepreneur Centers of North Dakota (ECND). ECND is an effort of local, state and federal resource provider who offers access to over twenty financing programs and a network of resource providers who offer counseling, training and assistance to North Dakota's start-up and existing entrepreneurs. The goal of this group is to work jointly with business people, borrowers, lenders, economic developers and communities to streamline the financing process and provide timely service to borrowers.
www.ecnd.net
