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To help North Dakota farmers and ranchers succeed in today's agricultural
climate, BND offers programs intended to enhance their operations through
irrigation, as well as diversify their on-farm sources of income.
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 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.
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.
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.
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