Keys To The New Place

Business Financing Programs

We offer a variety of financial resources to suit your needs. Our goal is to enhance the creation and expansion of businesses within our region. The financial resources offered are not intended to replace traditional lending options, nor are the funds managed with the same objectives as conventional financing. Below, you can learn more about a few of our programs, but we have even more to offer.

 

Overwhelmed by options? Don't be.

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Business Accelerator Fund

Your community resource for Bank of North Dakota (BND) Pace and Flex PACE programs in ND Region 2.

We like to think of this one as our "no-brainer" program. By buying down the interest rate on new and expanding business loans, BND, SBPC, and your private lender work together to support your financing needs.

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Resiliency Fund

A low-interest, flexible financing tool for businesses.

Our newest program enhances the region's financial toolbox to serve new and existing businesses needing access to capital.

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Impact Fund

A gap financing resource to promote start-ups and economic growth, development, and diversification.

Our oldest program, previously known as the Revolving Loan Fund, has been around for more than 25 years. We work to help make your dreams come true, when your project doesn't fit other financing options.

Business Accelerator Fund

Your community resource for Bank of North Dakota (BND) Pace and Flex PACE programs in ND Region 2.

The goals of the Business Accelerator Fund are to build resilient communities and enhance quality of life in North Dakota Region 2. This program was established with funds from the City of Minot MAGIC Fund in 2019.

BND supports communities to expand their economic base by combining the PACE and Flex PACE program with local community resources to buy down the interest rate on business loans. BND requires participation with a local lender and with the local community (that's us!).

 

The PACE and Flex PACE programs can reduce the borrower’s rate of interest by as much as 5 percent (5%).


BND assigns a community percentage factor to the 200 largest communities within the state. The factor determines the amount of BND’s participation (65-85 percent) in the funding of the interest buy down.

Our Business Accelerator Fund policy and project examples can be found here.

 

Resiliency Fund

The Souris Basin Resiliency Fund was created in 2020 with support from the U.S. Department of Commerce, Economic Development Administration. This program enhances the region's financial toolbox to serve new and existing businesses needing access to capital.

More information can be requested. 

 

Impact Fund

A low interest, flexible financing tool to increase economic diversity, build resilient communities, enhance quality of life, and create and retain jobs

The Impact Fund started out as the Souris Basin Revolving Loan Fund (RLF) in 1992 with $535,000 and today is a program with $1.8 million available to assist entrepreneurs in ND Region 2.

The Impact Fund is utilized when other capital resources are not available for entrepreneurs. This funding may help borrowers meet the requirements of private lenders for additional equity, or serve as a micro-loan for start-up or equipment needs.

Please use the navigation arrows on the graphic to the left to view the full Impact Fund policy. For a larger view, click here.

 
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