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Livestock Waste Management System Loan Program
The Livestock Waste Management System Loan Program provides low interest
financing to livestock producers for installing waste management facilities.
Eligible facilities include small or medium (1,000 head or less) animal
feeding operations that require renovation or relocation to fully address
surface and/or ground water impacts.
Borrower - An eligible borrower is any livestock producer in North Dakota who has
been approved by the North Dakota Department of Health to install a waste
management system.
Funding Limit - BND will utilize the State Revolving Loan Fund (SRF). SRF allows up
to $100,000 per borrower, for this program.
Use of Proceeds -
Loan proceeds may be used for the purchase of materials and/or services
for the design or construction of an approved waste management system.
Interest Rate
The Borrower's interest rate is fixed at 5.50% for 10 years. BND will net
5.25% with the lead lender receiving a .25% service fee.
Application Process
Application by a lead lender is required to apply for BND's loan participation in
addition to the North Dakota Department of Health Application. Submit these applications along with the required documentation indicated
on the BND application. Lead lender is responsible for servicing the loan.
Term - The term of a loan may not exceed 10 years.
Collateral - Adequate collateral will be required.
Equity Requirements - Each loan will be reviewed on its own merits.
Credit Criteria - Must meet bank's standard credit criteria including demonstrated repayability of all debt.
Fees - All fees and loan costs in connection with a loan application and loan
closing must be paid by the borrower. An origination fee of 1% ($250 minimum)
shall also be paid by the applicant.
For more information about this program or other Bank of North Dakota programs,
contact:
Bank of North Dakota
1200 Memorial Hwy
PO Box 5509
Bismarck, ND 58506-5509
(701) 328-5672
1-800-472-2166 ext. 5672
TDD (Telephone Device for the Deaf) 1-800-643-3916
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