Download presentation
Presentation is loading. Please wait.
Published byCori Nicholson Modified over 9 years ago
1
200 1 st Avenue NW Mandan, ND 58554 Phone 701-667-7620 Fax 710-255-7228 Email lcrdc@lewisandclarkrdc.org EDND 2015 Summer Conference June 25, 2015
3
Who does LCRDC serve? The Council provides services to its ten member counties
5
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.
6
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
7
$271,000 average NDOF loan Loans have ranged from $8,000 to $1,000,000 361 jobs have been created 127 jobs have been retained North Dakota Opportunity Fund Through April 2015:
9
Hotels Restaurants Convenience Stores Retail Stores Manufacturers Day Care Industrial Services Truck Service Shops Trade Contractors Software Development Food Processor Types of Business Assisted:
10
Interim Construction: < 3 Years (54%) Long Term: 3–10 Years (30%) Long Term: 10+ Years (16%) Types of Deals:
12
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.
14
DREAM Fund D – Down Payment and Closing Costs R – Rehabilitation E – Emergency Repairs A – And Other, Including Construction M – Mortgage
15
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
16
DREAM II Fund Generally Short-Term Housing Development Loans for: Pre-Development costs Construction Infrastructure Other Bridge and Gap loans
Similar presentations
© 2024 SlidePlayer.com. Inc.
All rights reserved.