Development Fund Awards Over $1.5 Million in Funding Requests

| 11/15/2012

A North Dakota Department of Commerce program announced today that it has awarded over $1.5 million in project funding requests. The North Dakota Development Fund has awarded funding requests for three projects that total $1,575,000.

The requests were approved at its October 24 board meeting.

According to the Department of Commerce, the following projects received funding:

United Pulse Trading, Minot, received a $1,000,000 loan as part of the total financing package to finance the building of a new production facility. The facility will be used for value-added pulse processing and milling production.

Glisten, LLC, Fargo, received a $375,000 loan as part of a financing package to finance working capital to be used for start-up and development costs. The company owns and operates Glisten.com an e-commerce website.

Gates Manufacturing, Inc., Lansford, received a renewal for a $200,000 line of credit to finance the company`s working capital needs. The company, which originated in 1986, is an agriculture tilling equipment manufacturer and general metal fabricating contractor.

The fund was created in 1991 to help new or expanding North Dakota primary sector businesses with financing.

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