The Bank of North Dakota (BND) Business Disaster Relief Loans provide businesses with funding to replace or repair equipment and real estate, and to replenish working capital.
It can also provide relief through lowering of interests rates and providing options for reamortization of loan terms. Business can work with any financial institution to secure the loan through the Bank of North Dakota.
Application Deadline: December 31, 2011
Is my business eligible?Your business must be located in a North Dakota county or reservation that has a Presidential-declared disaster.
Check if your county or reservation has a disaster declaration.
What are the loan terms?Loan terms are as follows:
Fixed at 4% for 5-years; or variable at the BND Base Rate less .50%. Interest rate charged by the lead lender on its percentage may not exceed BND’s base rate by more than 3%. The lead lender may charge up to a .25% base fee and BND will charge a $250 origination fee.
Review the BND Business Disaster Loan Fact Sheet for more loan terms.
How do I apply?Contact your local financial institution. Find a bank in your area registered with the North Dakota Bankers Association.
