Livestock Waste Management System Loan Program
The Livestock Waste Management System Loan Program provides low interest financing to livestock producers for installing waste management facilities. Eligible facilities include small or medium (1,000 head or less) animal feeding operations that require renovation or relocation to fully address surface and/or ground water impacts.
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Borrower - An eligible borrower is any livestock producer in North Dakota who has been approved by the North Dakota Department of Health to install a waste management system.
Funding Limit - BND utilizes the State Revolving Loan Fund (SRF) which allows up to $100,000 per borrower for this program.
Use of Proceeds - Loan proceeds may be used to purchase materials and/or services for the design or construction of an approved waste management system.
Interest Rate - The Borrower's interest rate is fixed at 5% for 10 years. BND will net 4.75% with the lead lender receiving a .25% service fee.
Application Process - Application by a lead lender is required to apply for BND's loan participation in addition to the North Dakota Department of Health Application. Submit these applications along with the required documentation indicated on the BND application. The lead lender is responsible for servicing the loan.
Term - The term of a loan may not exceed 10 years.
Collateral - Adequate collateral is required.
Equity Requirements - Each loan is reviewed on its own merits.
Credit Criteria – The applicant must meet the Bank's standard credit criteria including demonstrated repayability of all debt.
Fees - An origination fee will be charged by BND
For more information please contact us at:
Bank of North Dakota
1200 Memorial Hwy
PO Box 5509
Bismarck, ND 58506-5509
800.472.2166 ext. 328.5624