Flex PACE

LOAN AMOUNT (UP TO):

$300,000

DETAILS:

Provides financing with interest buydown through a participation loan between a lead bank, Bank of ND, and a community fund. The community in which the business is located will determine if the objectives of the business meet the needs of the community and to what extent they will provide the required matching portion of the buydown funds.

Proceeds may be used to purchase real property, equipment and certain working capital requirements.

ELIGIBILITY:

1. The borrower can be any person or entity whose business is located in the state of North Dakota. This may be an individual, corporation, limited liability company, partnership, association or any combination of these if there is common ownership.

2. The community in which the business is located will determine if the objectives of the business meet the needs of the community and to what extent they will provide the matching portion of the buydown funds required to access this program.

DEADLINE:

• Ongoing