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In order to position North Dakota farmers and ranchers to survive in today's agricultural climate, Bank of North Dakota offers assistance to livestock producers with the following programs.
The Beginning Farmer Chattel Loan Program may be utilized by a Beginning Farmer to purchase livestock. Beginning
Farmer is someone who has not been farming for more than 15 years, net
worth is less than $500,000 and the principal occupation is or will be
the production of an agricultural commodity on a family farm.
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 of capital improvements for dairy operations.
- 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.
An additional $20,000 of interest buy down is available for funding 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.
The Livestock Waste Management System Loan Program provides low interest financing to livestock producers for installing
waste management facilities.
The Biofuels PACE Loan Program may be used for livestock operations located in North Dakota that feed, handle, milk, or hold livestock with these operations using as part of its operation a byproduct produced at a biodiesel or an ethanol production facility.
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