Bismarck  (CSi)   — The North Dakota Development Fund, a loan program within the North Dakota Department of Commerce, awarded funding for five projects totaling $2,460,500 at its monthly board meeting held in July.

The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. Primary sector businesses create new wealth and are typically manufacturers, food processors and export service companies.

North Dakota Soybean Processors, LLC. in Spiritwood was awarded a $1,500,000 loan for construction and related cost of their new soybean crushing facility. The company will be constructing a 42.5 million bushel per year soy bean crushing plant.