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Communications
BND Disaster Relief Loan Programs
Business/Farm - The Bank of North Dakota (BND) has implemented new
low-interest disaster relief loan programs to help businesses and agricultural producers impacted by 2011 weather-related events. The program will provide funding for replacement or repair of equipment and real estate, to replenish capital and restructure existing bank term loans at a fixed interest rate of 4 percent for five years, or a variable interest rate at BND base rate less .5 percent. Collateral on all loans must be adequately secured. The disaster relief loan programs will be available through Dec. 31, 2011. To read more visit: http://www.banknd.com/lending_services/index.html#Disaster
Political Subdivisions - The North Dakota Public Finance Authority (PFA) has partnered with BND to offer low-interest disaster loans to political subdivisions impacted by 2011 weather and flooding. Through its Capital Financing Program, the PFA will consider applications from any political subdivision in counties that received a presidential disaster declaration or a gubernatorial executive order or proclamation of a state disaster or emergency.
The PFA financing can provide short-term funding for a political subdivision while the entity is waiting for reimbursement from the federal or state government or provide cash flow financing until sufficient tax revenues have been received to meet the local match requirements. This special disaster assistance financing is being offered until Dec. 31, 2011. More information about the program can be obtained by contacting the PFA at 701-328-7100.
To read more visit: Disaster Program
Homeowner Assistance - To be determined upon final FEMA individual assistance designation outcome.
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