The PACE Fund helps communities expand their economic base by assisting Primary Sector businesses that make an investment or create jobs in their community.
Flex PACE allows communities the ability to provide assistance to businesses that do not meet the primary sector definition of PACE. In addition to this program, specific Flex PACE options have been developed for child care facilities and affordable housing projects. No job creation is required for any Flex PACE Program options.
The Ag PACE loan provides interest buydown on loans to farmers or ranchers investing in nontraditional agriculture activities to supplement farm income. The program is used to reduce the interest rate on loans which have been approved by a local lender and BND.
Business Development Loan Program
The Business Development Loan Program assists new and existing businesses to obtain loans that have a higher degree of risk than would normally be acceptable to a lending institution. It may be used to start or expand a new business or for refinancing.
To find out more about these loans, check out Bank of North Dakota or the files below.