Business Resources - Traill County Economic Development-m88明陛

Hit the ground running.

Starting or growing a business can be overwhelming. Luckily, there are plenty of resources to help you get started. North Dakota’s New Business Registration site includes information on planning for and establishing your business in North Dakota. This site, combined with the other resources listed here, provide information on the steps you need to take to set up and run your business. To search for financing, incentives and workforce training options, use North Dakota’s Business Incentives Database.

You also can visit a Small Business Development Center, where consultants can help you start, manage and grow your business.

Setup and Licensing

Financing

Many financing options are available to help you start your business, whether you’re interested in local, state or federal programs. This information describes some of the most commonly used funding programs.

Economic development assistance

Organization	Description	Resources	Contact information
Traill County Economic Development Commission	Traill County EDC can provide financial assistance to new and expanding businesses in Traill County.	Business Assistance Application	Call 701.636.4746 or email director@comprarr.com
Hatton Economic Development Corporation	Hatton EDC has been active in business development and retention in Hatton since its founding in 1989. Organized under the Hatton Community Club, Hatton EDC provides small-business loans to assist new and existing businesses and supports the continued success of the School-to-Work program at Hatton Eielson School.
Hillsboro Economic Development Corporation	Hillsboro EDC works to provide opportunities to residents and grow the community by attracting new residents, and promoting business development and growth.		paula.suda@k12.nd.us
Mayville-Portland Economic Development Corporation	MayPort EDC works collaboratively with residents and local and state organizations to explore opportunities to build on existing strengths, and capture new opportunities for a better community.	Business Assistance Application	mpedc@mayvilleportland.com

Lake Agassiz Development Group

Lake Agassiz Development Group has been helping ambitious, hard-working North Dakotans for more than 40 years. LADG is comprised of several organizations with one staff to fulfill their clients’ needs: Lake Agassiz Regional Council (LARC), Lake Agassiz Regional Development Corporation (LARDC) and Lake Agassiz Certified Development Company (LACDC). These groups help area businesses using a variety of programs.

Program	Description
Small Business Administration – Microloan Program	The purpose of this fund is to assist startup, newly established and all other small businesses to obtain short-term, fixed-rate financing. Eligible small businesses located throughout North Dakota can apply for a microloan. Loan proceeds may be used for working capital, inventory and equipment needs, with a maximum loan amount of $35,000.
USDA Rural Development – Intermediary Relending Program	The purpose of the IRP program is to encourage and support business development and expansion in the rural portions of the Lake Agassiz service area (excluding the city of Fargo). Businesses located in Region V of North Dakota, which includes the counties of Cass, Ransom, Richland, Sargent, Steele and Traill, are eligible for this program. Loan proceeds can be used for real estate, fixed assets, working capital and inventory, with a maximum loan amount of $150,000.

Program

Description

Small Business Administration – Microloan Program

The purpose of this fund is to assist startup, newly established and all other small businesses to obtain short-term, fixed-rate financing. Eligible small businesses located throughout North Dakota can apply for a microloan. Loan proceeds may be used for working capital, inventory and equipment needs, with a maximum loan amount of $35,000.

USDA Rural Development – Intermediary Relending Program

The purpose of the IRP program is to encourage and support business development and expansion in the rural portions of the Lake Agassiz service area (excluding the city of Fargo). Businesses located in Region V of North Dakota, which includes the counties of Cass, Ransom, Richland, Sargent, Steele and Traill, are eligible for this program. Loan proceeds can be used for real estate, fixed assets, working capital and inventory, with a maximum loan amount of $150,000.

Bank of North Dakota

Bank of North Dakota is the only state-owned and operated bank in the nation. It offers economic and industrial development financing instruments that are not found elsewhere. Although BND doesn’t make direct loans to businesses, the following loan programs can be accessed through participation with a leading financial institution.

Program	Description
Beginning Entrepreneur Loan Guarantee Program	This program is designed to assist in business startup financing by providing a financial institution with an 85 percent guaranty of a loan not to exceed $100,000.
Business Development Loan Program	This program is designed to assist new and existing businesses in obtaining loans that would have a higher degree of risk than would normally be acceptable to a lending institution.
Match Program	This program is designed to encourage and attract financially strong companies to North Dakota and is targeted to manufacturing, processing and value-added industries. Through this program, BND will participate in loans to financially strong companies and provide interest rates at some of the lowest in the nation.
Commercial Bank Participation Program	This program was founded on principles that all loans should serve legitimate credit needs of the state and be made on a sound and collectible basis. BND will consider a broad range of loan applications. Specific equity requirements have not been established. Each loan will be reviewed on its own merits. Adequate collateral generally will be required to protect the interest of BND.
Flex PACE Program	This program was designed to provide interest buy down to non-PACE-qualifying businesses where the community determines eligibility and accountability standards. Flex PACE targets essential community businesses without the job creation requirement.

North Dakota Department of Commerce

The North Dakota Department of Commerce offers a variety of financial package programs through its divisions.

Program	Description
Agricultural Products Utilization Commission	APUC fosters the development of new and expanded uses of North Dakota agricultural products. APUC dollars can be used for product research, prototype development, feasibility studies, marketing plans and activities where there is a strong potential for development, commercialization and job creation in North Dakota.
Community Development Block Grant	The CDBG program awards funds to communities for real property, site improvements and infrastructure, and as a guarantee to fund working capital. CDBG is designed to assist primary sector and retail sector businesses looking to establish or expand in communities and can be debt or equity.

USDA and SBA

The U.S. Department of Agriculture’s Rural Development and the Small Business Administration offer a variety of financing programs for companies. Rural Development focuses on loan guarantees, grants and direct loans; SBA offers lending, guaranty and equity investment programs.

Public Finance Authority

Under its Industrial Development Bond Program (IDB), the Public Finance Authority makes loans to manufacturers that qualify as small issue manufacturers.

Workforce

Training and developing your workforce is a big part of any startup or business expansion, and these resources can help you find the training you need to help your employees develop their skills and become leaders.

Program	Description
TrainND	TrainND is the state’s most comprehensive and inclusive training network. They are comprised of the largest network of training specialists in the state and their courses and training areas include both industry-specific programs and training that applies to all fields. TrainND works to provide training for virtually every industry.
Workforce Development	The North Dakota Department of Commerce Workforce Development Division partners with other state agencies and public sector industries to deliver specialized programs and services to assist in enhancing the workforce of North Dakota.
Rural Leadership North Dakota	RLDN is a statewide leadership development program that includes seminars with experts; onsite tours and presentations; meetings with agriculture, business and government leaders; international experiences; and personal skills development. RLND is designed for men and women who are dedicated to strengthening the agricultural community, their own communities and the state of North Dakota for the future.