The North Dakota Department of Commerce announced Oct. 27 that the North Dakota Development Fund approved $6.3 million in financing for four businesses statewide during the third quarter of 2026, including a Grand Forks company.
According to the announcement, the fund approved a $325,000 loan to Vertical Malt LLC in Grand Forks for working capital related to the company’s relocation to and expansion in North Dakota.
The department said the other approvals were a $925,000 loan to S & D Holdings LLC in Bismarck to purchase a child care facility; a $5 million loan to Packet Digital LLC to help finance construction of the Badlands Batteries drone battery manufacturing plant in Fargo; and a $95,000 loan to Prairie Education Group in Fargo for working capital and inventory.
The four projects have approximately $102.3 million in combined project costs, with $6.3 million in financing approved through the fund, according to the department.
The announcement says the North Dakota Development Fund was established in 1991 and provides loans and equity investments to qualifying businesses. More information about the fund and financing opportunities is available at commerce.nd.gov, the department said.