The North Dakota Department of Commerce announced today that two companies were approved for $658,796.41 in loan and venture funds through the North Dakota Development Fund, Inc. (NDDF) during the first quarter of 2023.
“North Dakota’s favorable business climate is playing a key role in the thriving businesses throughout the state,” Commerce Director of Economic Development & Finance Rich Garman said. “This climate not only promotes start-ups and expansions but also offers resources and professional support for businesses at every stage of growth while expanding the state's economy.”
First quarter of 2023 recipients:
- Aaron McWilliams dba McStash Mills LLC, a family run sawmill in Hillsboro, received $58,796.41 to support the purchase of a sawmill. They currently service 35+ locations and are in the process of establishing distribution centers around the country.
- LandTrust Inc. received $600,000 to set up operations in North Dakota. LandTrust connects landowners with outdoor recreators seeking recreational land access in an easy-to-use online marketplace.
The NDDF 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. The fund also manages the Child Care Loan Program created by the North Dakota Legislature in 2009.
More information about the NDDF can be found at belegendary.link/North-Dakota-Development-Fund.