Economic Development Association of North Dakota

Bank of North Dakota

Accelerated Growth Loan Program

The Accelerated Growth Loan Program assists North Dakota-based companies anticipating a period of dynamic growth.
Contact: Craig Hanson, 701-328-5670

Ag PACE Loan Program

The Ag PACE program provides interest buydown on loans to farmers who are investing in nontraditional agriculture activities to supplement farm income. The program funds are used to reduce the interest rate on loans which have been approved by a local lender and BND. The farmer shall have as his principal occupation, prior to applying for the program, the production of agricultural commodities or livestock. Information about additional ag loans can be found here.
Contact: Craig Hanson, 701-328-5670

Beginning Entrepreneur Loan Guarantee Program

This program assists in business start-up financing by providing a financial institution with a guaranty of a loan not to exceed $200,000 for an individual and $500,000 for child care facility loan applicants.
Contact: Craig Hanson, 701-328-5670

Business Development Loan Program

The Business Development Loan Program is designed to assist new and existing businesses in obtaining loans that would have a higher degree of risk than would normally be acceptable to a lending institution.
Contact: Craig Hanson, 701-328-5670

Commercial Bank Participation Loan Program

If BND cannot fit a project or loan request into one of the incentive related loan programs, we can always participate in a loan under the Commercial Bank Participation Loan Program. This is generally “market driven” in terms of the rates, terms and conditions offered to a borrower. In most instances, BND’s participation under this program is needed to assist a financial institution with a borrower whose financing needs have outgrown the legal lending or exposures limits of the originating lender.
Contact: Craig Hanson, 701-328-5670

FLEX PACE Loan Program

The FLEX PACE feature of the PACE program provides interest buy down to borrowers that do not fit into the traditional definition of a PACE qualifying business.
Contact: Craig Hanson, 701-328-5670

Flex PACE for Affordable Housing Program

Flex PACE for Affordable Housing provides financing with an interest buydown for new affordable multi-family housing units and no-residential child care projects, new or expanding, licensed in North Dakota
Contact: Craig Hanson, 701-328-5670

Match Loan Program

The MATCH program is designed to encourage and attract financially h3 companies to North Dakota. The program is targeted to manufacturing, processing and value-added industries.
Contact: Craig Hanson, 701-328-5670

PACE Loan Program

The PACE Fund assists North Dakota communities to expand their economic base by providing for new job development. This program has two major elements: (1) participation by BND with a local lender in a community based loan, and (2) participation by the PACE Fund with the local community in reducing the borrower’s overall interest rate.
Contact: Craig Hanson, 701-328-5670