Small Business

BND has a variety of small business programs available. Listed below is a short summary of each.

Business Development Loan Program

The Business Development Loan Program assists new and existing businesses in obtaining loans that would have a higher degree of risk than would normally be acceptable to a lending institution.

Beginning Entrepreneur Loan Guarantee Program

This program assists in business start-up financing by providing a financial institution with an 85% guaranty of a loan not to exceed $100,000. Click the following link to find out more about the Beginning Entrepreneur Loan Guarantee Program.

Ag PACE Program - (Agriculture Partnership in Assisting Community Expansion)

The Ag PACE program provides interest buydown on loans to farmers who are investing in nontraditional agricultural 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.

PACE Program - (Partnership in Assisting Community Expansion)

The PACE Fund assists North Dakota communities in expanding their economic base by providing for new job development.

The PACE program has two major elements: (1) the participation by BND with a local lender in a community based loan, and (2) the participation by the PACE Fund with the local community in reducing the borrower's overall interest rate.

Flex PACE Program

Qualified Businesses

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. Under Flex PACE, the community determines eligibility and accountability standards. Flex PACE allows communities the ability to provide assistance to borrowers with a business focus or need outside of the current requirements of PACE, such as jobs retention, technology creation with no new jobs, retail, smaller tourist businesses and essential community services.

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