Community Development Loan Fund

LARC manages the regional portion of the North Dakota Community Development Loan Fund (CDLF), a division of the Community Development Block Grant Program. CDLF funds are a source of financing for new and expanding businesses within the rural areas of the Lake Agassiz Region, excluding the City of Fargo, and are used in conjunction with other sources of federal funding programs.

The credit decision is made by the LARC Loan Committee, but must also be approved by the North Dakota Division of Community Services. Funds may be used for real estate, equipment, inventory, and working capital. The maximum amount available to one borrower is $500,000, although most loans average $100,000.

Please Contact Us or Request Info for a detailed description of eligibility requirements, fees and current interest rates.