Advantage: North Dakota newsletters
- Advantage ND: May 2022
- Advantage ND: June 2022
Flex PACE and PACE Loans
Flex PACE provides financing with an interest buydown for businesses deemed eligible by their local economic development entity.
PACE Program helps communities expand their economic base by assisting primary sector businesses that make an investment or create jobs in their community.
Flex PACE for Affordable Housing finances new affordable multifamily housing units and nonresidential child care projects with an interest buydown.
Ag PACE Loans
Ag PACE provides interest buydown on loans to farmers or ranchers investing in nontraditional agriculture activities to supplement farm income. The programs is used to reduce the interest rate on loans which have been approved by a local lender and BND.
Beginning Farmer Loans- Chattel and Real Estate
The Beginning Farmer Chattel Loan assists beginning ranchers with the purchase of equipment and livestock. The Beginning Farmer Real Estate program assists with the purchase of farm real estate.
Established Farmer Real Estate Loans
Established Farmer Real Estate Loans assist ag producers with financing for agriculture purposes.
Livestock Disaster Relief Loan Programs
The North Dakota Industrial Commission approved two Bank of North Dakota loan programs on July 26, 2021, to help the state’s livestock producers cover expenses related to the extreme drought conditions in the state. Producers must work with their local lender to determine if the programs are appropriate for their situation and make application through them.
The Livestock Drought Loan Program closed June 30, 2022.
The Livestock Rebuilder Loan Program is still open and is designed to strengthen the livestock industry post-drought by providing a financing program to help livestock producers who had to reduce the size of their herd due to lack of feed supply. This program has an extended application deadline of June 30, 2023 and provides funds for producers to purchase and rebuild breeding stock. This ensures that producers have adequate time to assess the situation and create their business plan to rebuild their herds. The loan is available for up to a seven-year term at a fixed interest rate of 3.50%.
Match Programs
Match Program is the primary loan fund with the financial capacity to support large-scale economic diversification projects.
Accelerated Growth Loan
Accelerated Growth Loan assists ND-based technology companies with solid operations, good management and strong cash flow that are positioned for a period of accelerated growth or can show consistent monthly revenues above $50,000. These companies normally have limited assets to qualify for traditional bank financing.
As of November 30, 2020, the program which was introduced in 2017, has helped (xx) businesses with loans totaling $(xx) million.