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Business Financing Services
Starting or expanding a business can be challenging in many areas such as location, workforce, equipment and financing. The Bank of North Dakota offers many financing services that can help those challenges become easier to handle.
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Additional Related Information
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Beginning Entrepreneur Loan Guarantee Program
This program is designed to assist in business start-up financing by providing a financial institution with an 85% guaranty of a loan not to exceed $100,000.
Biofuels PACE
Biofuels PACE (Biofuels Partnership in Assisting Community Expansion) was established to buy down the interest rate on loans to biodiesel and ethanol production facilities, and livestock operations.
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. The total outstanding amount under this program by BND may not exceed $25 million.
Commercial Bank Participation Program
Commercial Bank Participation Program is founded on principles that all loans should serve legitimate credit needs of the State and be made on a sound and collectible basis. BND will consider a broad range of loan applications. Specific equity requirements have not been established. Each loan will be reviewed on its own merits. Adequate collateral will generally be required to protect the interest of BND.
Flex PACE Program
Flex PACE was designed to provide interest buy down to non-PACE qualifying businesses where the Community determines eligibility and accountability standards. Flex PACE targets essential community businesses without the job creation requirement.
MATCH Program
The MATCH program is designed to encourage and attract financially strong companies, "A" rated or equivalent. Loan funds may be used to finance real estate, machinery and equipment, and for the purchase or lease of equipment. The program targets manufacturing, processing and value-added industries.
New Venture Capital Fund
Administered by the North Dakota Development Fund, the New Venture Capital Program is an innovative financial program that provides flexible financing through debt and equity investments for new or expanding businesses in the state of North Dakota.
Oil & Gas Development Loans
The Oil and Gas Development Program is designed to assist North Dakota developers in increasing oil and gas production in existing wells. This program provides for BND to participate in loans for oil and gas rework, recompletion and enhanced recovery operations, and for the purchase of producing oil and gas wells.
Partnership in Assisting Community Expansion (PACE)
One of the most attractive programs is the Partnership in Assisting Community Expansion (PACE) fund, an interest buy down loan program that is available to primary sector business including manufacturing, data processing, communications, telecommunications and targeted service industries.
The PACE Fund is designed to assist North Dakota communities in expanding their economic base by providing for new job development. The PACE Program is available to finance the purchase of equipment or real estate, as well as term working capital. In conjunction with community support, the program provides an interest buy down that can reduce the borrower's overall interest rate.
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