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    • Home
    • About Rugby
      • Explore Rugby
      • Available Properties
      • Community Organizations
    • Opportunities
      • Jobs
    • Incentives & Programs
      • Bank of North Dakota
      • 50/50 Sign Program
      • Youth Entrepreneur
      • Rugby Child Care Grant
      • Renaissance Zone
      • Student Loan Program
      • CONAC
      • Housing Incentive Program
    • About Us
      • Board of Directors
      • JDA Agendas & Minutes

  • Home
  • About Rugby
    • Explore Rugby
    • Available Properties
    • Community Organizations
  • Opportunities
    • Jobs
  • Incentives & Programs
    • Bank of North Dakota
    • 50/50 Sign Program
    • Youth Entrepreneur
    • Rugby Child Care Grant
    • Renaissance Zone
    • Student Loan Program
    • CONAC
    • Housing Incentive Program
  • About Us
    • Board of Directors
    • JDA Agendas & Minutes

Bank of North Dakota Programs

Partnership in Assisting Community Expansion Program (PACE)

  

The JDA’s partners with the Bank of ND buy down on qualifying under the PACE and Flex PACE programs. This incentive is offered to all qualifying Rugby area businesses under the program and is subject to Board approval. The Rugby Job Development Authority partners with the Bank of ND in buying down up to 5% interest on the loan for those programs. The JDA share is 30% and BND’s is 70%. For businesses to access the program, a community match is required – (The JDA provides the community match in Rugby).  

Articles – Good topics for articles include anything related to your company – recent changes to operations, the latest company softball game – or the industry you’re in. General business trends (think national and even international) are great article fodder, too.


PACE


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

The Flex PACE Fund combines the resources of the local community and the PACE Fund to buy down the interest rate on the loan. 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. 


Ag PACE


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.


If you have questions on these programs, please contact your local lender or the Rugby JDA. 

BANK OF NORTH DAKOTA PROGRAM FILES

Here are some PDFs that you can read to learn more about our programs!

PACE program (pdf)

Download

Flex PACE program (pdf)

Download

Rugby JDA PACE & Flex PACE Application - as ap (pdf)

Download

Flex PACE 3 year example (pdf)

Download

Ag PACE program (pdf)

Download

Business Development Loan Program (pdf)

Download

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