200 1st Avenue NWMandan, ND 58554

Phone 701-667-7620Fax 710-255-7228

Email lcrdc@lewisandclarkrdc.org

EDND 2015 Summer Conference June 25, 2015

Who does LCRDC serve?The Council provides services to its ten member counties

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

$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:

Types of Business Assisted:

Interim Construction: < 3 Years (54%)

Long Term: 3–10 Years (30%)

Long Term: 10+ Years (16%)

Types of Deals:

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.

DREAM Fund

D – Down Payment and Closing CostsR – RehabilitationE – Emergency RepairsA – And Other, Including ConstructionM – Mortgage

DREAM Fund

No Income LimitsLow-Income is a priority

Rates and Terms Adjusted for Affordability1 Month to 40 Years1% to Market Rate

DREAM II Fund

Generally Short-Term Housing Development Loans for:Pre-Development costsConstruction InfrastructureOther Bridge and Gap loans