|
 |
In order to position North Dakota farmers and ranchers to survive in today's
agricultural climate, Bank of North Dakota has concentrated on helping
producers diversify their income sources by offering the following programs.
The Ag PACE Program provides incentive financing to encourage North Dakota farm families to:
- Purchase equity shares issued by a new or expanding value added agricultural processing facility.
- Develop new irrigated acreage.
- Develop a business that can be integrated into the farming operation.
- Improve or expand finishing facilities for livestock retention.
- Purchase or improve dairy facilities.
- Purchase of equity shares in a condominium storage facility.
Qualifying borrowers will receive an interest buy down that can reduce
the interest rate by up to 5%. This buy down can amount to an interest
savings of approximately $20,000 per biennium with a lifetime cap of $60,000.
Eligible applicants for interest buy down dollars exceeding $20,000 must
have a net worth of less than $1,000,000. The State Water Commission funds,
not exceeding $20,000 per borrower, may also be used to supplement Ag PACE
funds for the purchase of irrigation equipment on new irrigated acreage.
The ENVEST Program provides a below market interest rate for North Dakota farmers and businessmen to purchase shares in start up or expanding agricultural processing facilities.
Interest buy down up to 5% is available to purchase equity shares in a North Dakota feedlot or dairy operation that feeds a byproduct of a ethanol or biodiesel facility.
|
|
|
 |
|
|
|
|
| | | | |
|
|
| | | | | |
|
|
