Community Development Loan Fund

The purpose of the Community Development Loan Fund (CDLF) program is to provide gap financing and equity investments that will create or save jobs for low- and moderate-income (LMI) persons.


Applicants must submit a pre-application. Project eligibility will be reviewed by SBPC staff. Upon recommendation of funding, applicants will be required to submit a full application. Funds are federal in nature and projects are required to follow all federal and state program requirements. SBPC will serve as the project administrator to ensure all rules and regulations are met.

Eligible Activities:

  • acquisition of real property

  • acquisition, construction, rehabilitation, or installation of public facilities, site improvements and utilities

  • real property improvements

  • planning

Funding Criteria:

  • Retail/Tourism

    • Minimum funding: $10,000

    • Maximum funding: $300,000

  • Primary Sector

    • Minimum funding: $50,000

    • Maximum funding: $500,000

  • Main Street

    • ​Minimum funding: $20,000

    • Maximum funding: $100,000 

  • Funding terms:

    • Working Capital: 5 year maximum

    • Inventory: 5 year maximum

    • Equipment: 10 years maximum

    • Fixed Assets: 25 year maximum

    • Infrastructure: 15 year maximum

  • Funding terms, interest rates and project benchmarks are determined on a case-by-case basis.

Grant funds available for local foods projects

Program Requirements


A bank must be involved in the financing of a project unless in a disaster situation.


Loans must be secured with fixed assets, personal guarantees or any other reasonable source of available collateral.


The cost per job shall not exceed $50,000.


Must create and/or save permanent jobs OR provide goods and services to an LMI community.


51% of new and saved jobs must be held by or made available to LMI persons.


1:1 leverage match.


10% equity investment.

Eligible applicants include cities and counties located in North Dakota Region 2. These units of government receive Housing and Urban Development (HUD) funds from the North Dakota Department of Commerce, Division of Community Services (DCS). Cities and counties can serve as project sponsors for businesses.