North Dakota Development Fund approves $3.46M in Q3 loans for tech, ag and child care projects

The North Dakota Department of Commerce announced today that four companies were approved for nearly $3.5 million in loan and investment funds through the North Dakota Development Fund Inc. (NDDF) during the third quarter of 2025.

"Each investment we make through the NDDF is a step toward a more resilient and diversified North Dakota economy," said Commerce Economic Development & Finance Deputy Director and Head of Investments and Innovation Shayden Akason. "By advancing innovation, infrastructure and industry growth, we're helping communities thrive and businesses scale for long-term success."

Q3 Loan Highlights:

• Independent Data Management Inc. dba MyAgData, Fargo - $1 million investment for working capital to support ag-tech expansion.
• Oswill Properties LLC, Minot - $200,000 loan to purchase a building and expand its child care facility.
• Goodbulb LLC, Fargo - $360,700 loan for leasehold improvements and working capital.
• Scranton Holding Company Inc., Minot - $2,649,999.27 investment to complete FEL 2 and FEL 3 phases of their project.

These Q3 investments are translating into tangible results, expanding production capacity, accelerating ag-tech deployment and enabling infrastructure upgrades that directly respond to workforce demands and regional development goals.

Established in 1991, the NDDF provides flexible financing for new or expanding businesses. The fund also manages the Child Care Loan Program, which supports providers addressing critical workforce needs.

For more information about the Development Fund, visit belegendary.link/North-Dakota-Development-Fund.