North Dakota Opened Applications for Tech Loan Program
The state program provides low-interest capital to help firms bridge the gap between research and market deployment.
Updated on Oct. 12, 2026 in Biotech
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North Dakota has opened a new application window for its Legacy Investment for Technology (LIFT) loan program, which provides state-backed financing for research and testing costs. The program, which has recommended nearly $48 million in awards since its 2019 inception, is now accepting submissions until November 9, 2026.
Why it matters
The LIFT program is designed to enhance the capacity of local firms to commercialize new technologies by providing non-dilutive capital. With $10 million allocated for the 2025-2027 period, the state continues to prioritize financing for research-heavy sectors like healthcare and data management.
The program offers zero interest for the first three years, followed by 2% interest for the subsequent two years. Healthcare firms have received $13.4 million in total funding to date, averaging $788,000 per award, compared to $446,000 for advanced computing and data management projects.
The players
Valence NGS
A Williston-based firm focused on next-generation sequencing that received $1 million in prior LIFT funding.
Trilogy
A Minot-based company that secured a $1 million loan recommendation during the 2023-2025 funding period.
The details
LIFT loan funds are strictly limited to costs associated with research, experimentation, or testing, explicitly excluding capital expenditures, building costs, or inventory. This mechanism forces borrowers to focus on the technical maturation of their products rather than operational expansion. By requiring the principal to be repaid in full after five years, the state maintains a revolving fund model intended to support subsequent cohorts of technology startups.
Timeline
The program launched as the Innovation Loan Fund in 2019.
The state rebranded the initiative to LIFT in 2023.
Applications opened for the current round on October 5, 2026.
The application window closes on November 9, 2026.
Applications are scheduled to reopen for the next cohort in February 2027.
The Tech Race
The LIFT program follows a strategy common among states seeking to build specialized industrial clusters by de-risking early-stage R&D. It sits within the state's broader effort to compete for talent against more established hubs by offering favorable terms for the critical testing phase.
Local firms in sectors like healthcare and data management have until November 9, 2026, to submit proposals for the current funding round. Successful applicants will gain access to specialized capital that avoids the equity dilution typically associated with traditional venture financing.
The takeaway
The LIFT program provides a recurring mechanism for firms to fund R&D without immediate interest costs, bridging a vital gap for North Dakota startups. Interested companies should track the closing of the current portal on November 9, 2026, and prepare for the next round in February 2027.
Further reading
Explore how Biotech initiatives are shaping the trajectory of state-backed research funding.
Source note: This article includes information reported by Technical.
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