200 1 st Avenue NW Mandan, ND Phone Fax EDND 2015 Summer Conference June 25, 2015

Who does LCRDC serve? The Council provides services to its ten member counties

ND Opportunity Fund The ND Opportunity Fund (NDOF) leverages private financing to help small businesses and manufacturers attain the loans and investments needed to expand and create jobs. A consortium of 38 municipalities across North Dakota has received funding for operating the loan participation program.

Created By the Small Business Jobs Act of 2010: State Small Business Credit Initiative There are 38 Communities in ND, Led By the City of Mandan Loans for Construction, Equipment, Working Capital, Real Estate, Interim SBA 504 Loans $9.7 Million Revolving Loan Fund $1 Million Maximum Loan, 50% of Project, 10% Owner Equity, Private Lead Lender Required North Dakota Opportunity Fund

$271,000 average NDOF loan Loans have ranged from $8,000 to $1,000, jobs have been created 127 jobs have been retained North Dakota Opportunity Fund Through April 2015:

Hotels Restaurants Convenience Stores Retail Stores Manufacturers Day Care Industrial Services Truck Service Shops Trade Contractors Software Development Food Processor Types of Business Assisted:

Interim Construction: < 3 Years (54%) Long Term: 3–10 Years (30%) Long Term: 10+ Years (16%) Types of Deals:

The Lewis & Clark Certified Development Company (LCCDC) is a private non-profit corporation that is licensed to administer and facilitate the SBA 504 loan program throughout North Dakota. Lewis & Clark CDC works with SBA and private-sector lenders to provide financing to small businesses through the CDC/504 Loan Program, which provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.

DREAM Fund  D – Down Payment and Closing Costs  R – Rehabilitation  E – Emergency Repairs  A – And Other, Including Construction  M – Mortgage

DREAM Fund  No Income Limits  Low-Income is a priority  Rates and Terms Adjusted for Affordability  1 Month to 40 Years  1% to Market Rate

DREAM II Fund  Generally Short-Term Housing Development Loans for:  Pre-Development costs  Construction  Infrastructure  Other Bridge and Gap loans