Business Incentive Programs
North Dakota is a great place to do business. The state makes a very focused effort to build an economic environment that encourages business growth and success. In partnership with an originating lender, BND takes a lead role in providing loan programs to encourage:
- The creation of new wealth
- Expanded employment opportunity
- Farm income diversification
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 rate of interest by as much as 5%. This buy down can mean an interest savings of approximately $462,000 over the term of the loan. In return, the borrower must create one new job in North Dakota for each $100,000 of total loan proceeds. The PACE program now includes features outlined under the Flex PACE Program and Biofuels PACE Program.
The MATCH Program supports the funding needs of a borrower whose financial capacity is very strong. This strength must be evidenced by a long-term credit rating of A or better as determined by a national rating agency. For the qualifying borrower, BND offers a rate of interest equal to .25% to .50% over an equivalent term U.S. Treasury Note. The rate can be fixed for as long as five years, or may be reset annually.
For more information please contact us at:
Bank of North Dakota
1200 Memorial Hwy
PO Box 5509
Bismarck, ND 58506-5509
(701) 328-5777
1-800-472-2166 ext. 5777
TDD (Telephone Device for the Deaf) 1-800-643-3916
