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General Participation Loan Program This program can be used for any type of business. Proceeds may be used for working capital, equipment and real property. (more about the BND General Participation Loan) This program is designed to assist new and existing businesses in securing competitive financing on reasonable terms and conditions. Total financing up to $250,000 with BND’s share of this loan not to exceed $187,500. Can be used for working capital, equipment and real property. (more about the Small Business Loan Program)
This program is designed to assist new and existing businesses. Any business is eligible with BND's participation limited to $500,000 maximum per project. BND's participation percentage is negotiated on a loan by loan basis. In no case will the local lender's portiion be less than 10% of the total loan amount.. (more about the Business Development Loan Program)
The PACE Fund is designed to assist North Dakota communities in expanding their economic base through new job creation. This program has two major elements: (1) the participation by BND with the loan 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. The borrower shall demonstrate that within the first year, there will be a minimum of one job created for every $75,000 of total loan proceeds. The program is available to manufacturing, processing, data processing, communication and telecommunication businesses. (more about PACE)MATCH The MATCH program is designed to encourage and attract financially strong companies to North Dakota ("A"-rated or better). The program is targeted to manufacturing, processing, and value-added industries. Proceeds can be used for real estate and for the purchase and lease of machinery and equipment. (more about MATCH)STEP (Start-Up Entrepreneurial Program): Borrowers for this program include all small business activities including: home-based businesses, retail, service and manufacturing. This program is designed to work in conjunction with other state and federal small business loan programs, including the SBA LowDoc Loan Program. BND will participate with a lead lender up to 60% of the total loan, or $60,000. All projects are required to have a minimum of 15% equity in the business. (more about STEP)SBA MainStreet Program BND may purchase up to 100 % of the guaranteed portion of an SBA guaranteed loan provided to any new or existing small business. Additional funds may be obtained from any other funding sources and proceeds may be used for fixed assets, working capital and start-up costs. (more about the SBA Main Street Program)
To be eligible under this program the borrower may own no more that 10% of the project. Loan proceeds are for the purchase of shares in start up or expansion of agricultural processing plants intended to process North Dakota grown products. Project ownership may be other than a cooperative business structure if the intent of this loan program is met. (more about ENVEST)CO-OP Equity Loan Program To be eligible under this program the borrower may own no more than 10% of the project. Loan proceeds are for the purchase of share in start-up or the expansion of agriculture co-op processing plants intended to process North Dakota grown products. It is desirable that the plant be located in North Dakota; however, exceptions may be made based on the overall economic benefits to the state. The loan borrower must be a North Dakota resident whose principal occupation is farming or ranching. (more about the CO-OP Equity Loan Program)
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