Welcome to Lending Services!
On behalf of the State of North Dakota, the Bank administers several lending programs that promote agriculture, commerce and industry.
Financing economic development is the thrust of Bank of North Dakota’s efforts. The Bank is specifically authorized to assist numerous other financial institutions in providing financing to stimulate economic development in the state.
Lending Services announces Rural Mortgage Loan Program extension and Affordable Housing Program
The Rural Mortgage Loan Program will continue with a new commitment of $10 million from Bank of North Dakota. The program allows rural financial institutions that are not FHA approved with the ability to make and sell residential loans in rural North Dakota.
The Bank announced the Flex PACE Affordable Housing Program. This pilot program will assist in the financing of affordable multi-family housing units for individuals living in counties affected by oil and gas development.
BND Disaster Relief Loan Programs
BND's Disaster Relief Loan Programs are designed for North Dakota farmers, ranchers, home owners, and businesses affected by 2011 weather-related events.
Please review the Loan Program Fact Sheets below for more detailed information.
Flood Damaged Home?
Click here to calculate what your payment would be to refinance the loan on your flood damaged home and include funds for repairs or purchase another home.
Trade Area:
BND's primary trade area is the State of North Dakota. While not prohibited by law from reaching beyond the State's boundaries, BND will not make nor participate in loans to borrowers whose residence or place of business is outside of the State unless it can be shown that the benefits of a loan will flow to the State or its residents, BND will consider a loan participation outside of the State.
Type of Lending:
BND is involved in two types of lending: direct lending and participation loans.
BND by statute can do anything any other bank can do, unless restricted by statute. Mostly by practice we do not make direct loans. However, legislative action has given express lending authority to BND for:
- The purchase or acquisition of bank stock or the formation of a bank holding company.
- The acquisition or refinancing of farm real estate by qualified individuals.
- Assistance with post secondary educational costs (i.e., student loans).
All other lending by BND is through participation with a lead financial institution. This lead lender can be any qualified financial institution - most notably a bank, savings and loan, credit union or Farm Credit Services.
Loan Application:
All loans are reviewed on an individual basis to ensure the general credit standards of BND are met. All loans require an identified purpose and a specific source of cash flow which reasonably assures repayment of the loan.
Each loan program has specific requirements for the appropriate application procedure.
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