North Dakota Development Fund approves $6.3M in Q3 financing to support business development and expansion

The North Dakota Department of Commerce announced that the North Dakota Development Fund (NDDF) approved $6.3 million in financing for four North Dakota businesses during the third quarter of 2026.

The approvals include four loans supporting business expansion, facility development and working capital needs.

Q3 2026 funding recipients include:

• Approved a $325,000 loan to Vertical Malt LLC, (Grand Forks) for working capital associated with the company's relocation to and expansion in North Dakota.
• Approved a $925,000 loan to S & D Holdings LLC, (Bismarck) purchase a child care facility.
• Approved a $5 million loan to Packet Digital LLC to help finance construction of the Badlands Batteries (Fargo) drone battery manufacturing plant.
• Approved $95,000 loan to Prairie Education Group (Fargo) for working capital and inventory.

The four projects represent approximately $102.3 million in combined project costs, with $6.3 million in financing approved through the NDDF.

Established in 1991, the North Dakota Development Fund provides financing to qualifying businesses through loans and equity investments. The fund offers financing options intended to address funding gaps and support business development in North Dakota.

For more information about the North Dakota Development Fund and available financing opportunities, visit www.commerce.nd.gov.