RDFC Board of Directors

2018 RDFC Biennial Report

Communities build, grow with development financing
For the growth challenges now facing North Dakota communities, the Rural Development Finance Corporation (RDFC) is playing a valuable role co-ops.

  • Valley City-Barnes County Development Corporation – Pace-Flex Pace numerous interest buy down loans for various businesses in Valley City including the purchase of businesses and inventory, building improvements, and multi-family and affordable housing projects.
  • Kraemer Repair, Lidgerwood – Participation Loan up to $28,225 at 2% interest with 1% origination fee; term to match the originating lender.  Funds will be used for the expansion of the automotive repair shop. 
  • Elite Collision, Hankinson – Participation Loan up to $30,000 at 2% interest with 1% origination fee for 15 years.  Funds will be used to install a geothermal HVAC system and interior and exterior improvements to the building.
  • Park River – 2 CCLs totaling $450,000 both at 2% interest with 1% origination fee for 10 years.  Funds will be used for the construction of a new city shop and a building expansion.

Vision/Mission/Values Statements

Vision Statement:

Rural communities enjoy a vibrant and fulfilling quality of life through RDFC initiatives.

Mission Statement:

RDFC encourages economic diversification and community vitality through the generation of funding that supports sustainable asset building.

Values Statements:

  • RDFC considers proposals to help build assets in rural communities and cooperatives

  • RDFC values allowing communities to define their needs and methods for building assets

  • RDFC employs maximum flexibility in our work and funding

  • RDFC values leveraging of resources

  • RDFC manages fiscally sound programs

RDFC values the Seven Cooperative Principals and Six Cooperative Values

6 Cooperative Values 7 Cooperative Principles
  1. Equity
  2. Self-help
  3. Self-responsibility
  4. Solidarity
  5. Equality
  6. Democracy
  1. Voluntary and open membership
  2. Democratic member control
  3. Members’ economic participation
  4. Autonomy and independence
  5. Education, training and information
  6. Cooperation among cooperatives
  7. Concern for community

The Rural Development Finance Corporation is a North Dakota nonprofit finance and development corporation whose member-owners are all the North Dakota Rural Electric Cooperatives, nine of the North Dakota Rural Telecommunication Cooperatives and the North Dakota Association of Rural Electric Cooperatives. Funding for these programs comes from fee income generated by Dakotas America LLC, a certified development entity providing New Market Tax Credits in the Dakotas. More information on Dakotas America can be found at www.dakotasamerica.com.

For overall rural development questions contact:
Lori Capouch, Economic Development Director
Mary Stumpf, Rural Development Assistant

RDFC Board of Directors

RDFC Loan Forms

Owned by North Dakota’s rural and electric cooperatives and the North Dakota Association of Rural Electric Cooperatives